glennmercer
Long

LONG USDCAD: Possible Butterfly Complete at Trendline Support

FX:USDCAD   U.S. Dollar/Canadian Dollar
USDCAD             may potentially be completing a bullish butterfly pattern at a key support trendline that dates back to May, 2015. At the butterfly completion point, there are three key levels that are precisely confluent: 1.272XA, 2.24BC, and 1.5AB=CD. To add to the bullish bias, MACD and momentum divergence are present on the 1HR TF and an unhit daily pivot sits above price. This pivot provides a nice target as it coincides with the . 618 retracement of the butterfly CD leg. SL is placed below the long term trendline support.

Confluence in the PRZ:
  • Bullish butterfly pattern completion
  • Long term trendline support
  • Bullish MACD Divergence
  • Bullish momentum divergence
  • Unhit daily pivot above price
  • 1.5AB=CD
  • 2..24BC Projection

Thank you for viewing!
Trade closed: target reached: USDCAD Long target achieved
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out