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USDCAD Trendline Breakout and Potential Trade Opportunites

USDCAD Trendline Breakout and Potential Trade Opportunites

Description: The pair is trading in a triangle lately. The intersection of the midterm bearish trendline and the shorter term bullish trend line is very close. Latest Bullish Bat pattern worked well so far. The new direction and midterm trend will be determined by the direction of the breakout.If the pattern keeps working 1.29800 – 1.29900 will be tested.

LONG SETUP

Pair / Instrument: USCAD

Time Frame: H1

The trend in the Timeframe: Bullish

The trend in the Daily Chart:  Bearish

Trade Based On: Trendline Breakout

Accuracy: %78

Recommended Lot Size: 0.03 @ 10 K Account with 1:100 Leverage

Trade: LONG

The Area Of The Entry:  Est. Breakout 1.29900

Stop Loss: 1.29500

Target 1: 1.30600

Target 2: 1.31100

Target 3: 

What to Pay Attention: Wait for our entry alert. It will be sent to members.

SHORT SETUP: – If the pair fails to break above the bearish trenline –

Time Frame: H1

The trend in the Timeframe: Bullish

The trend in the Daily Chart:  Bearish

Trade Based On: Trendline Breakout

Accuracy: %78

Recommended Lot Size: 0.03 @ 10 K Account with 1:100 Leverage

Trade:SHORT

The Area Of The Entry:  Est. Breakout 1.29400

Stop Loss: 1.29990

Target 1: .129000

Target 2: 1.28300

Target 3: 1.28000

What to Pay Attention: Wait for our entry alert. It will be sent to members.

You can follow the trade:USDCAD Trendline Breakout

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You can follow the result of trade setups based on harmonic and breakout patterns:

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 Trendline Breakout: 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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