This chart shows a technical analysis setup for the USD/CAD pair on the 30-minute timeframe.
Key Elements:
Descending Channel: The price is in a downtrend, forming lower highs and lower lows within a clearly defined downward channel.
Double Bottom Pattern (Orange Circle): Suggests a potential bullish reversal, but not confirmed unless the neckline is broken.
Stop Loss Level: Marked just above the recent lower high within the channel—logical risk management in case the trend reverses.
Take Profit Zone: Located at a horizontal support level, where price has previously
Key Elements:
Descending Channel: The price is in a downtrend, forming lower highs and lower lows within a clearly defined downward channel.
Double Bottom Pattern (Orange Circle): Suggests a potential bullish reversal, but not confirmed unless the neckline is broken.
Stop Loss Level: Marked just above the recent lower high within the channel—logical risk management in case the trend reverses.
Take Profit Zone: Located at a horizontal support level, where price has previously
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
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Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
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Gold Signal's with proper TP & SL for high profit opportunities..
t.me/Money_Magnet08
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Money_Magnet08
Gold Signal's with proper TP & SL for high profit opportunities..
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.