USDCAD Monthly looking to form monthly tweezer top
USDCAD Monthly Bearish Bat pattern with Monthly Tweezer Top
Price is currently rallying (and I hope it does), but I will be scouring lower time frames to find a low risk sell setup to line up a position trade
Longer term (if this were to play out) typical harmonic pattern targets are 161.8% extensions, which in this case lines up with the highlighted demand level lower which is quite a large gap
It would take months but if I can grab a daily or lower time frame setup that could get a lower risk entry into a bigger position play the R:R would be substantial
Keeping an eye on the rally within this months candle and looking for position zones to sell
Price is currently rallying (and I hope it does), but I will be scouring lower time frames to find a low risk sell setup to line up a position trade
Longer term (if this were to play out) typical harmonic pattern targets are 161.8% extensions, which in this case lines up with the highlighted demand level lower which is quite a large gap
It would take months but if I can grab a daily or lower time frame setup that could get a lower risk entry into a bigger position play the R:R would be substantial
Keeping an eye on the rally within this months candle and looking for position zones to sell
Comment:
4hr supply around 1.3470 which I will be having a go at with final target at 1.10211, Risk is around 40 pips/ but final target is 2447 pips, this would be for only a tiny % of the trade - the majority if well off the Table by 1.30 but still.. would be pretty fantastic to see a 60:1 trade play out - time will tell... will ahve to buckle in for a while and try not to do something stupid and manage the trade poorly along the way!
(not to say I won't be scaling out along the way)