usdcad diamond breakout soon.
UsdCad has been in a diamond price formation and due for a breakout soon.
Since USD is very bullish recently, I predict a bullish breakout and retest on the diamond structure.. then resume the price channel created in the diamond structure. This is a daily time frame so you will have to use a lover time frame for a buy entry. But it is sitting on a strong support now so there is a very good opportunity.
*I only try to identify chart patterns, it's up to you to make your decisions whether to buy or sell.
Good luck to everyone. Follow me for more patterns early
Since USD is very bullish recently, I predict a bullish breakout and retest on the diamond structure.. then resume the price channel created in the diamond structure. This is a daily time frame so you will have to use a lover time frame for a buy entry. But it is sitting on a strong support now so there is a very good opportunity.
*I only try to identify chart patterns, it's up to you to make your decisions whether to buy or sell.
Good luck to everyone. Follow me for more patterns early
Note
Trading is still very much active for buyers. Breakout may occur early next week.And wait for a retest of the channel with the thicker line. to possibly resume price action in the intra-channel.
Goodluck!
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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.