ABCDE TRIANGLE IN USDCAD - DAILY CHART

Hi people,

I put this idea on the table. I have analyzed this pair for a month already and as you see I drew a channel on the way to -D-

If market broke the structure I would have had then a simple ABC correction and I would sell the next flag to get profits downtrend.

Now we have broken that channel up and it's broken the trend from -C- to -D-

I expect the market to make a flag and then I will buy the brakeout to get a nice short term buy.

However, my trade is the sell from -E- And that move can triple my account!!

Carlos

Comment:

Didn't make the flag, but if you look into 1H chart you can trade the breakout of the downtrend move that just happened the last.

I would wait for reversal in E and go short for hundreds and hundreds of pips

Order cancelled:

We cancelled the buy order and we are now planing a sell for a long term trade!