Week ending soon, USDCAD is consolidating. With the previous bearish Cypher pattern, a support has been met and the currency is now stuck in a range and not breaking yet. According to what I'm seeing, the result of the Cypher pattern might have created a bullish Flag formation, which would break out from E to 1.3585, the last structure high there was. My second TP would be around 1.37.
Risk reward of 5? Is it possible? We'll see monday.
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Well, the Cypher pattern was still effective. Didn't get that one right!