forming a textbook flag pattern
, where AB=CD
. Therefore PA is squeezing in the consolidating flag, waiting for the next pop to the long side. 10:1 RR on this trade due to strong daily trend lines
is weakening, therefore correlating USDCAD
will fall and make way for oil
longs. Price bounced of daily .618 fibonacci level making way for a severe bull
run up to the end of the month.