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SifuS

USDCAD D1 Potential long setup

Long
U.S. Dollar / Canadian Dollar (OANDA:USDCAD)  
SifuS  
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Double Top or Bottom
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doubletoporbottom
Last week we have seen the recent lower timeframe (H1, H4) resistance broken, and we are awaiting for price to build a flag/pennant pattern in that timeframe to confirm long opportunity. Price also has arrived to daily's bottom, making it a potential double bottom setup on D1 timeframe.

This setup would have RRR 2:1 for TP1 and 3.5:1 for TP2.
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