USD/CAD Medium Term down trend continuation or breakout

FX:USDCAD   U.S. Dollar / Canadian Dollar
42 0
This is a one to watch, i don't have any trades at the moment, since the price is halfway in-between the top and bottom of the small convergence triangle.

If the price breaks out the bottom side then i would put a sell order on the red line, if it breaks the top of the multi-week resistance then i would place a buy order at the green line. This trade could go either way.

Always remember to be weary of 'fake-outs' where the price breaks out of the S/R lines but goes back within them immediately after, having buy/sell lines helps determine whether or not the breakout is likely to continue in the direction it's heading
Comment: The pair made a nice clean breakout at the sell line, moved 138 pips
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out