USDCAD GEOMETRIC TRADING DIAMOND PATTERN

USDCAD
IS forming a Diamond mid trend or top reversal on its minutes chart.
The price is trading the mid range of the diamond pattern at 50% 1.27506 AB.
The "Diamond" pattern is very reliable and consists of four-sided price action.
"Diamond" patterns are both continuation and reversal patterns.
If the pattern occurs in the midst of a trend.
It will present a continuation of the trend in the same direction prior to the formation.
If the pattern occurs at the tops or bottoms, it will be a reversal pattern.
Diamonds patterns can be trade both directions after the breakout levels.
If the diamond pattern breaks above 1.27832, them will be looking at TP1 1.28233 61.8% AB and TP2 1.28479 100% AB.
If breaks below 1.27186 them we will be looking to target the downside TP1 1.26791 61.8% BA and TP21.26544 100% BA
STPS will be placed above/below the high/low previous to the breakout.

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