USDCAD Trendline Breakout And Bearish Dragon
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
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