Hello trader,
I am back after some moment with a potential setup that can move up 700pip or more on the USDCAD, the USDCAD is trend down for a long time without giving a clear pullback till it makes it to its last clear setup that leads to its initial uptrend before the drop.
the initial setup is a swing low then the price fails to break it and create a new swing high low which I illustrated it as (SMS), then a clear break of structure which i illustrated as (BOS) then the price rallied far away without returning till this date to the last candle with is engulfed pinbar which is my decision point for a reversal pattern.
I am back after some moment with a potential setup that can move up 700pip or more on the USDCAD, the USDCAD is trend down for a long time without giving a clear pullback till it makes it to its last clear setup that leads to its initial uptrend before the drop.
the initial setup is a swing low then the price fails to break it and create a new swing high low which I illustrated it as (SMS), then a clear break of structure which i illustrated as (BOS) then the price rallied far away without returning till this date to the last candle with is engulfed pinbar which is my decision point for a reversal pattern.
Comment:
As shown in the weekly analysis that the price range and then grab liquidity then its final move with the same candlestick pattern which is the pin bar