Second Crab pattern emerges before FOMC
Very interesting setup on $USDCAD towards Fed's decision later today.
Second Crab pattern emerged and completed near 1.385.
This actually an Elite Zone setup sent earlier to the members and is the position is up 40 pips now.
Due to the expected volatility following the Fed's announcement, I think that $USDCAD will provide another chance to trade this strong harmonic setup as it'll probably spike above previous high.
In anyway, the key level is 1.385 and stop loss should be wide enough (above 1.4) in a way that it'll hold through the craziness
I suggest to wait for the potential upside spike and try to time the entry based on smaller time frame reversal patterns
Potential targets - 1.36, 1.345 and 1.3.
*If you liked this analysis, consider joining the Elite Zone service (see below)
Tomer, The MarketZone
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Second Crab pattern emerged and completed near 1.385.
This actually an Elite Zone setup sent earlier to the members and is the position is up 40 pips now.
Due to the expected volatility following the Fed's announcement, I think that $USDCAD will provide another chance to trade this strong harmonic setup as it'll probably spike above previous high.
In anyway, the key level is 1.385 and stop loss should be wide enough (above 1.4) in a way that it'll hold through the craziness
I suggest to wait for the potential upside spike and try to time the entry based on smaller time frame reversal patterns
Potential targets - 1.36, 1.345 and 1.3.
*If you liked this analysis, consider joining the Elite Zone service (see below)
Tomer, The MarketZone
To subscribe to the services - goo.gl/HXjCPV
Follow my blog - goo.gl/78KZsl
Subscribe to my Youtube channel - goo.gl/q8dbyT