brad_wp

brad_wp

Clearly we see a successful completion of the inverse H&S pattern in play. Retest of the neckline is expected in order to complete the long term movement towards our future target.With economies picking up globally we can expect the demand for oil to increase in the near future. Trade with caution and exercise risk management.

brad_wp

With out triple top/rejection on the Fib level 78.6 we see further downside on this pair. Approaching the trend line , price action appears to be breaking through. Should we get a daily or weekly close below this trend ,we could see a massive shift in momentum. Wait for retest of the ascending trend line and appropriate confluences to verify short position.

brad_wp

With the current situation my bias would be to the downside should we see a break of the trend line. The current H&S pattern has reached its target and has successfully completed the retest of the neckline. More downside is expected from this pair should we see a break of the trend line. Further downside targets will be updated accordingly should this happen.

brad_wp

Trade Idea - USDCAD Simple Bullish Flag Pattern formation, If we see a break of the current flag pattern then this will justify's the current long trend. Wait for break and enter on the retest depending on confluences.