UCAD Dropping Signs of Potentially Strong Reversal

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USDCAD has followed suit with last week so far with starting this week off continuing the decline in price from the Sept. 11th High beginning to form what looks to be a "Right Shoulder" or Lower High then the previous.

This strong triple Reversal Pattern is the Head and Shoulders!

Now the Right Shoulder was created but still has yet to form completely which will happen once price revisits the "Neckline" or Support Line price has been bouncing from to create the 3 peaks.

Once Price has Confirmed the Pattern, this should deliver potential Short Opportunities as a Head and Shoulders Breakout and Retest Scenario!

*The next suspected area Price will travel to if the Pattern is confirmed will be the Last Support Zone Price visited before beginning the formation of the Pattern.

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Ghi chú

Head and Shoulders Confirmed!

Now we wait for the Breakout.