FX:USDCAD U.S. Dollar/Canadian Dollar
Risk/Reward ratio on this trade setup is really good right now. It has reached the top of an 18 month trending channel with confluence from 1.618 fib extension. It just broke out of an ascending wedge on the 30 minute chart, and retraced back to 88.6%, may be ready for a big move during the next London session, to the downside. Use your entry strategy to profit on these trades. The head and shoulders is speculative, but is completed based on confluence from previous trends and fib. levels.