USDCAD Potential Inverse Head And Shoulders Pattern
We have published a long setup this week and the trade reached the second target.
After FED statement Loonie pulled back.
Our pattern is still valid.
Now we see an emerging Inverse Head and Shoulders pattern on the H1 Chart.
Breakout of the neckline will trigger the bullish move.
Trade Setup:
Long
Entry: 1.33400 ( wait for the breakout )
Stop Loss: 1.3300
Target 1: 1.33800
Target 2: 1.34000
The ultimate target of the pattern: 1.34200
This pattern would be invalidated if the price breaks below 1.32450 before testing the neckline.
After FED statement Loonie pulled back.
Our pattern is still valid.
Now we see an emerging Inverse Head and Shoulders pattern on the H1 Chart.
Breakout of the neckline will trigger the bullish move.
Trade Setup:
Long
Entry: 1.33400 ( wait for the breakout )
Stop Loss: 1.3300
Target 1: 1.33800
Target 2: 1.34000
The ultimate target of the pattern: 1.34200
This pattern would be invalidated if the price breaks below 1.32450 before testing the neckline.
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