Alex_BPTrader
Long

USDCAD - Potential Bullish Gartley

FX:USDCAD   U.S. Dollar/Canadian Dollar
6 months ago
There was a break of the bearish flag on the 1H (see orange lines) and there was a break of B leg of the potential Bullish Gartley Formation on 4H on USDCAD             .
This is interesting opportunity because if you look left you will see that market ended the sequence of NSL and OR also known as a bearish trend .
There was a NSH             at 9th May that signaled for a bullish rotation and there was an OR(X leg for the Bullish Gartley ) followed by NSH             - this is a confirmation for new bullish trend in play.
So we can take the potential Bullish Gartley as a reason for entry and hopping on the bullish trend .
We will enter right @ D completion or 1.272% of AB, but you can look carefully and see the bearish flag(you will see it better on 1H) so be careful with your targets on that flag - because there should be lower from D point if you go for equal measured move for target on that flag.
I will shoot for 0.382 for target 1 and a retest of A leg for 2nd target but you can still go for conventional targets. If you look to the left once again you will see previous NSL - a structure level, stops will be below it. - there is a breathing room for the stop.

Entry @ 1.2837
Min Stop @ 1.2723
Initial Target 1 @ 1.2970
Initial Target 2 @ 1.3052

Good Luck!
6 months ago
Trade active: I got filled
-Alex
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