FX:USDCAD U.S. Dollar / Canadian Dollar
This daily chart USD/CAD formation resembles a symmetrical triangle pattern. It can be used for a trend continuation breakout setup. My potential entry is marked with the cyan line, which is located at 10% of the triangle's base width above the upper border. My take-profit will be at the green line, which is located at 100% of the triangle's base width above the upper border. I will set my stop-loss to the triangle's lower corner (1.36292). Bearish breakouts from this formation are to be ignored.
Trade setup cancelled due to the pattern's invalidation.
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