Price formed this nice H&S Pattern, suggesting price is going up.
Target 1 : 1.322
Target 2 : 1.3364
SL : last low
or below Right Shoulder.
** Tomorrow will be the BoC Rate decision, wich is expected to go up 25bps to 1.75%.
This rate hike is already priced in in current price, therefore don't expect huge moves because of it.
Volatility will come from BoC stance for the future.
Target 1 : 1.322
Target 2 : 1.3364
SL : last low
or below Right Shoulder.
** Tomorrow will be the BoC Rate decision, wich is expected to go up 25bps to 1.75%.
This rate hike is already priced in in current price, therefore don't expect huge moves because of it.
Volatility will come from BoC stance for the future.
Note
Better Entry possibility if you are not in yet.Note
First entry closed at 1.315 with +57pips.Second entry, took 1/3 profits and SL moved to break-even.
Trade closed manually
Looks like a leading diagonal with correction now in place but not sure about, so leave this one be until clearer patterns appear.Therefore, Closing second position also, with +114pips.
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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.