provides us 3 scenarios to trade. As mentioned in the chart above, we can have breakout in any direction, but broadening wedge
ideally results in Upside breakout. If USDCAD
decides to go on opposite direction, we can short USDCAD
with proper stops.
The 3rd scenario is we have retested the previous support @ 1.3130's in USDCAD
, so on Bullish
confirmation we can enter long positions with proper stops below the support area
. Before taking any type of trade either Pullback entry or Breakout, check your rules and risk-reward.
Happy Trading !