Possible Head & Shoulders; USDCAD
Good Day All,
Stumbling across the USDCAD 1D Chart, I observed a possible Head & Shoulders pattern ranging from 23th Sept to 4th Nov.
Though by chance, After the major price rejection at 1.39790 not letting price touch the 1.4 mark, The traders seems to have taken control sending it down a controlled pattern giving Novice Traders like myself the idea it'll fall.
At first sight it may seem the case but by recent personal events I've determined it isn't always the case.
Do pay attention to incoming news and such as they can either slingshot prices toward the SL or the TP hopefully.
Please do your own analysis first before deciding whether to follow this or not, while I may not mind sharing gains, I wouldn't like to see others suffer losses due to my own.
Recommended Order Type : Market Sell
Take Profit 1 : 1.33250
Take Profit 2 : 1.32600
Take Profit 3 : 1.31820
Stop Loss : 1.35750
R/R Ratio : 2+ (ONLY IF TP3 HIT!)
R/R Ratio : 0.9 (TP 1)
Prediction Nullifying Requiems: Price out of bounds or beyond the 1 W mark.
P/S: Do Consider Lowering The SL before letting it run as R/R seems a bit low.
Stumbling across the USDCAD 1D Chart, I observed a possible Head & Shoulders pattern ranging from 23th Sept to 4th Nov.
Though by chance, After the major price rejection at 1.39790 not letting price touch the 1.4 mark, The traders seems to have taken control sending it down a controlled pattern giving Novice Traders like myself the idea it'll fall.
At first sight it may seem the case but by recent personal events I've determined it isn't always the case.
Do pay attention to incoming news and such as they can either slingshot prices toward the SL or the TP hopefully.
Please do your own analysis first before deciding whether to follow this or not, while I may not mind sharing gains, I wouldn't like to see others suffer losses due to my own.
Recommended Order Type : Market Sell
Take Profit 1 : 1.33250
Take Profit 2 : 1.32600
Take Profit 3 : 1.31820
Stop Loss : 1.35750
R/R Ratio : 2+ (ONLY IF TP3 HIT!)
R/R Ratio : 0.9 (TP 1)
Prediction Nullifying Requiems: Price out of bounds or beyond the 1 W mark.
P/S: Do Consider Lowering The SL before letting it run as R/R seems a bit low.