Watch this Pattern: USDCAD Daily Rectangle
Rectangle pattern is obviously a sideways consolidion or range pattern. The price tend to find demand near the rectangle bottom and oppositely, it finds supply at the rectangle top. Shorting rallies towards the top and buying dips towards the bottom is the favored strategy to deal with rectangles, until PROVEN wrong through a breakout and daily closing.
The best indicators to use with rectangles are oscillators that provide overbought and oversold indications.
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Regards,
Technician
The best indicators to use with rectangles are oscillators that provide overbought and oversold indications.
Join me, thefxchannel.com visit.. vote..subscribe
Regards,
Technician
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