USDCAD Triangle Short

FX:USDCAD   U.S. Dollar / Canadian Dollar
53 0 4
I have had a few posts in the recent past, looking for the long side of USDCAD             to formulate out of this triangle. As I mentioned in my last post, the larger time frame and pattern will eventually rule over the shorter one. Luckily, I haven't lost too much on the long side of this pair.

I'm going to look into this set up:

Pattern: 20 wk triangle
Trade: Short
Units: 26k
Basis Point Risk: 50 basis points (for now)

Entry: 1.2850 (upon close)
SL: TBD, but will use Last Day Rule
TP: 1.2029

I am fully aware of the monthly support from 1.26170 to 1.2452. I am also aware of the larger H&S pattern on the weekly chart of this pair as well, if we get PA to the downside.

Let me know what you guys think and if you're waiting for something else.
Trade active: Triggered, but watching closely to see if we bounce off of a support level here with price action or follow through.
Comment: Thank you, FED! Stop moved to 1.2920.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder 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