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AndriyMoraru

Descending Channel on USD/CAD @ D1

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
AndriyMoraru Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD breakout canadiandollar Bullish Patterns Descending Channel Parallel Channel patterntrading
2
0
usdcad breakout canadiandollar bullish descendingchannel parallelchannel patterntrading
The descending channel pattern on the daily chart of USD/CAD can be a good idea to trade a bullish breakout. The channel's borders are marked with the yellow lines. The potential entry level is shown with the cyan line. The potential take-profit level is marked with the green line. I will set my stop-loss to the low of the breakout bar (not shown on the chart). Bearish breakouts will be ignored.

More information, an MT4 chart template, and free tools to trade this pattern can be found on www.earnforex.com/bl...-since-january-2016/
Trade active:
Entered trade yesterday at 12:58 UTC @ 1.28095. SL = 1.2696.3. TP = 1.32614 (will be going down).
Trade closed: target reached:
TP @ 1.30400 reached today at 00:44 UTC.
You can find useful tools to detect, build, and trade chart patterns - all completely free on www.earnforex.com.
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