RaynLim

Trade Ideas Position: USDCAD Bat

Short
RaynLim Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Having the current candle movement, the market does suggest a potential breakout and close above the resistance.

My EA pattern recognition software I've been testing for 1-year plus picked this up as you can see it spotted a bigger picture that can't even fit the entire bat in the chart.

Definitely a countertrend setup on this.
If you had read the previous analysis the head and shoulders formation has formed up, hits its target area and move rebound from the target.
Trade active:
Sell Limit: 1.3380(28)
ISL: 1.3460(-80)
SLE: 1.3377(+3)
TP1: 1.3245(+135)
Comment:
Stops at Profit to prevent Whipsaw by US NFP
SLP: 1.3273(+107)
Trade closed manually:
Target 2 1.3161(+219)

We believe that we should not slog our life away. Keep working to the minimum. How about 15mins a day?

Get into our 15mins workday community
discord.gg/AKDr9vPqH7

Live session & Trading Tips on the GO
www.tiktok.com/@raynlim
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.