USDCAD
1. The last retest off the trend line offered a great opportunity for a buy order so I am looking to possibly do the same again
2. Price is currently on the neck line of an inverse head and shoulder pattern (retest)
3. Retest of trend line taking place as we speak
I will look for:
1. A buy signal to print
2. 50ema to be broken (area of value)
3. Targeting previous resistance
This setup offers a 1:2 risk to reward ratio
**NB - NFP news this afternoon that may violate this setup entirely so expect heavy volatility
Trade closed: target reached