POTENTIAL CYPHER PATTERN
USDCAD has been following a downtrend recently. However looking at the daily timeframe we are pulling towards a major support level. This presents the opportunity to go long on this pair. I will be looking for signs of oversold conditions.
ENTRY:1.2936
TARGET1: 1.3043
TARGET2: 1.3111
1:1 RISK TO REWARD ON FIRST TARGET
USDCAD has been following a downtrend recently. However looking at the daily timeframe we are pulling towards a major support level. This presents the opportunity to go long on this pair. I will be looking for signs of oversold conditions.
ENTRY:1.2936
TARGET1: 1.3043
TARGET2: 1.3111
1:1 RISK TO REWARD ON FIRST TARGET
Trade closed: stop reached