Nice bullish weekly setup for USDCAD

9 thg 2, 2023

Doesn't get much more cut and dried than this... Momentum suggests it is starting out of a three-point corrective structure, but if it turns down one more time, then expecting a bounce on the bottom of the formation at 1.3276 before moving back up and out. A good entry point might be above the top side of the triangle once the 0.618 turns to support. Measured move out of the triangle suggests a target at the 1.272 fibonacci extension at ~1.43 for a 5.8% gain or so. Pump in USDCAD consistent with recent corrective turn (BTC and EURUSD down, toppy SPX). Use your own due diligence, stop loss, etc. Good luck!

24 thg 3, 2023

Ghi chú

Nice transition to a double-bottom formation. Assuming (re-)entry at neckline of W, a good entry point might be early next week. Based on a double bottom (check out TV's new pattern ID tools!), target would be slightly lower at 1.42, though I will probably throw on a trailing stop at that point and expect it to continue up to the 1.272 Fib, as descrbed in the OP