As we can see, the price has lost its long-term downward trend in daily timeframes and is rising. It is now in a small uptrend channel and we assume that the price will maintain its support level and move towards the specified target.
What do you think about it ?
It breaks the last daily low and also it started an uptrend from the 4H demand zone
The TP is a again so conservative that only cover 48 pips, I can extend it to the weekly high, but I prefer not to do it.
R/R = 1:1
Usdcad - H4 - After a prolonged downtrend on this pair we are now seeing some consistent bullish continuations on H4 timeframes on usdcad so we can jump in with this bullish trend at the next pullback.
This one is the worst of the worst. The RBC couldn't steal, print or borrow one more dime - not even a Canadian one - even if their lives depended on it. (Which it just might)
Whom are they kidding?! Ride it up like a rented mule!
Chances are ....
.... this isn't coming back much, if at all.
We can see the strong trend bullish @4H timeframe
and also Falling Wedge Pattern @4H timeframe
usdcad might be as my forecast and we will be waiting for the next Higher Low to execute this pairs
USDCAD BULLISH GARTLEY PATTERN
Market Buy Order Set Up.
Buy Entry: (1.27120)
Take-Profit 1: (1.27545)
Take-Profit 2: (1.27854)
Max Risk-Reward: (1.62)
Smash a Like button and leave a Comment, I appreciate every support. Goodluck.
USDCAD has reach major key inflection point on the daily timeframe. What interseting is it approach this major key area with Descending corrective stucture which usually give signal for a move to the upside. The price has now rejected impulsively from the bottom of this descending structure. In addition it is now alreaddy forming a bullish continuation structure...
USDCAD has clearly made inverse heads and shoulders pattern and we expect price to push to the marked zone . Another possible re- entry will be when price breaks above the marked resistance which will now become our support .Trade will only become invalid if usdcad comes back to our right shoulder .