Ascending Triangle (USDCAD, Daily)

21 thg 3, 2022

The canadian dollar has a text book ascending triangle and is currently sitting at the support line. WIll wait for bullish signs in order to enter (i.e. an up bar closing near the highs). That will show buying interest at the level. If it breaks the trendline then I may look to short it. If I find a long trade then I'll hold for the breakout of the top of the ascending triangle in anticipation of a move higher. The idea being that the bias for these patterns is for it to breakout of the top of the triangle.