It's on a daily chart. A huge butterfly pattern. Its impulse leg started in 2015.
It's valid on all points, it'll probably be a good trade.
I'm aiming 1.12 on this one!
Unfortunately, I saw it late and my trade is not perfect, the stop loss is kind of big...
Beautiful symmetrical triangle breakout trade opportunity here.
TP: 1.2933 (132 pips)
SL: 1.30965 (39 pips)
Low risk, High reward.
The big black lines you see are the fib retracement of last week.
Since the US election, the dollar/yen hasn't stopped to go up. A beautiful bearish bat pattern formation, high RSI, bollinger band topping as a good Stoch indicator, could these finally signal the end of the uptrend?
I'm going short:
SL : 55 pips
TP : 189 pips.
RR : 3.41
Really good setup.
Good luck on this one ! :)
Week ending soon, USDCAD is consolidating. With the previous bearish Cypher pattern, a support has been met and the currency is now stuck in a range and not breaking yet.
According to what I'm seeing, the result of the Cypher pattern might have created a bullish Flag formation, which would break out from E to ...
USDCAD, 1 Hour.
Elliott Wave - suggests corrective waves (we're basically at the end of the B leg at the time I'm writing this), it might form an advanced pattern to go short. But nothing is complete yet, I'll update this topic when I see changes in the market.
News - RBC (Royal Bank of Canada) as well as other ...