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USDCAD Trendline Breakout And Bearish Dragon Update: Targets Reached 45 pips

USDCAD Trendline Breakout And Bearish Dragon

Published: 08-16-2018

Pair / Instrument:USDCAD

Time Frame: H1

The trend in the Timeframe: BULLISH

The trend in the Daily Chart: BULLISH

Description:  Shortterm rising trend line is broken. Bearish Dragon harmonic Pattern Formation. Possible bearish correction.

Trade Based On: Bearish Dragon

Accuracy: %90

Trade:SHORT

Entry: 1.31440

Stop Loss: Above 1.31670

Take Profit: 1.31220

TakeProfit 2: 1.31020

Note: 1.31830 has been tested twice. If the pair breaks below 1.31020 double top formation would be completed. A further drop is expected.

Update: Targets Reached. Trade Closed at 1.30600. 45 Pips

Rules To Keep In Your Mind:  Trade Safe. Money  Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

 

 

USDCAD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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