FX:USDCAD   U.S. Dollar/Canadian Dollar
Hi everyone we have a pattern on USDCAD             which in my opinion is valid. The targets are highlighted on the chart as well.

Lets see and Good Luck :)
Still in this trade
snapshot
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Got the same outlook, nice work :)
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is this a butterfly pattern?
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Crab
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Hello, im looking at this pattern long time and difficult to find an entry point. The exact bearish crab is little higher and has not filled yet. I prefer to play safe and place a sell limit order there and have a better R/R ratio. According to EW the price could be forming an expanding ending diagonal and we could have one more leg up the last high. On the other hand we have a pinbar on W1 chart, mmm difficult to know........ Regards.
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KevinSinghDhaliwal FullTimeTrader
Hi, yes there's a possibility of making another high but have to see as you said little hard to say. Lets see
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Yes Ivan below 1.3134 it will decline to 1.2834...good luck everyone
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I agree.
Where would you place a stop here Kevin?
I'm thinking of selling under 1.3134 to be safe, and stop above the high, but not sure yet.
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Hey Ivan, its hard to determine a SL on this type of patterns, so I would have to see how the pair forms up or low more etc. But yes it would be more safe to sell around your entry price.
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IvanLabrie PRO KevinSinghDhaliwal
Ah, ok. Thought so.
I don't like too wide a stop, and here I'd be forced to use an ATR based one over the high to be safe, so yes, let's wait.
+1 Reply
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