USDCAD I Head And Shoulders Pattern And Trade Idea
Pair / Instrument: USDCAD
Time Frame: H4
The trend in the Timeframe: BULLISH
The trend in the Daily Chart: BULLISH
Description: We have reached our target 1.32600. As seen on the chart USDCAD is forming I Head And Shoulders Pattern. If USDCAD succeeds to break above the neckline, we see a potential 80 pips upwards movement. If it fails to break above possible reversal and 100 pips opportunity.
Trade Based On: I Head And Shoulders Pattern / Resistance Reversal
Entry:1.32600 – 1.32700
Stop Loss: TBA
Take Profit 1: TBA
Take Profit 2: TBA
Note: Entry alerts, direction, SL and TP levels will be sent to members.
Link to follow the chart and idea: USDCAD Trade Idea
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 Head And Shoulders Pattern: 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