USDCAD TRIANGLE PATTERN. ANALYSIS: H4 PRICE HAS MET RESISTANCE FROM 200 50 20 SMA AND BEING SQUEEZED BY THE DESCENDING TRIANGLE
NOTE: 20 AND 50 SMA ARE TRADING SIDEWAYS, THIS IS A CONSOLIDATION MARKET THUS BREAKOUT COULD HAPPEN EITHER SIDE. BUT A BREAKOUT IT WILL BE. WAIT FOR A SUSTAINED CLOSE D1 OUTSIDE OF THE TRIANGLE BEFORE TRADING UNLESS YOU ARE ADVENTUROUS.
I PERSONALLY HAVE A UPWARD BIAS FOR USDCAD. PRICE WILL MOVE BELOW 1.24, CAUSING PEOPLE'S SELL ORDER TO TRIGGER AND THEN MOVING ABOVE 1.24 AND CLOSING HIGHER THAN 1.24. TRAPPING ALL THE GREEDY BEARS.