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 :)
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.
+1 Reply
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.
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
Yes Ivan below 1.3134 it will decline to 1.2834...good luck everyone
+1 Reply
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.
+1 Reply
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
is this a butterfly pattern?
Got the same outlook, nice work :)
Still in this trade
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