USDCAD some Possible Patterns on the Daily
This Pair is currently in a stong Bullish trend which will most likely continue, however i feel we will see an outside return soon.
I can see we have 2 possible advanced Patterns forming on the Daily timeframe.
A Bearish Gartley is possible, D completion does line up with some previous structure which could act as resistance, however this was broken last time. Also the RR for the pattern is only really 1:1 if you're going for the 618 target.
The second possible pattern which also has a better RR is the Bearish Bat, D completion is around the area where we really saw the pair drop at the beginning of the year. The stop would be at previous resistance, the pair tried to push past this level but couldnt so for me this is a safer area.
All imo of course and will see what happens
I can see we have 2 possible advanced Patterns forming on the Daily timeframe.
A Bearish Gartley is possible, D completion does line up with some previous structure which could act as resistance, however this was broken last time. Also the RR for the pattern is only really 1:1 if you're going for the 618 target.
The second possible pattern which also has a better RR is the Bearish Bat, D completion is around the area where we really saw the pair drop at the beginning of the year. The stop would be at previous resistance, the pair tried to push past this level but couldnt so for me this is a safer area.
All imo of course and will see what happens