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possible 1:6 risk reward on usdcad long setup daily timeframe
Short term sell to long term buy on USDCAD. Could bounce in the middle and not return to the 1 Hr order block at the bottom. Will look for lower time frame accumulation.
resets lower time frames, looks like possible rapid gain on cad
Price had a nice size bullish impulse, now we are looking for a retracement and a possible test of the previous high. I am expecting a retracement before it's next bullish impulse, ultimately creating a higher low. Price is also showing oversold on the 4 hour time frame. I am looking for price to also respect the trendline creating it's 4th touch. Like, Follow,...
buy @ 76.117
We have a 4H cypher to sell @0.99009 and a hourly cypher to sell @0.98446
short @1.67415 - Nice opportunity to hop on the downtrend for trend following traders!
We have a clear inverted head and shoulders pattern forming on the USDCAD which would indicate a further move back to previous sresistance. You can play it safe and wait until the price breaks the neckline or like me you could take entry where the second shoulder is forming at the current price with stops below the head