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Akil_Stokes
Jan 5, 2017 11:25 AM

USDCAD: APutting In A Potential Right Shoulder Long

U.S. Dollar/Canadian DollarFXCM

Description

Dollar weakness in the markets have driven us down over 300 pips before finally looking as if we may see some relief. If you "look left" on this chart you'll see that current price action has made it's way down to an inside level of potential structure support which may also end up being the right shoulder in a potential head & shoulders pattern.

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Comments
ElPatron.Y
This is not a valid inverted head and shoulder.
Roker1
Different analysis, same outcome! Eyes open on this! Thanks Akil

Akil_Stokes
@Roker1, Not as different as you would think. Good stuff
jolicoeur342
@Roker1, AB=CD isnt valid... plus weekly and monthly bearish view... long before 1.27xxx even lower is too risky to trade this setup
Roker1
@jolicoeur342, I appreciate your feedback, but i have a different opinion
Gbprider
still the setup valid ?
Akil_Stokes
@Gbprider, Not for what I was looking at, no
WadeYendall
Another reverse HS forming on the 1H too.
Akil_Stokes
@WadeYendall, Thanks for sharing your idea
rangika_ailapperuma
It is also sitting on the 61.8 of the recent up move.
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