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Here is the possible corrective triangle in uptrend with target.
1. was trading Usd/cad last week and i saw few reversal signs and i want to share.. 1. Rsi double bottom on weekly chart, 2. classic abcd was finished 1.38-1.21 -weekly chart, 3. i saw 2 head and shoulders which are reversal trend patterns - one on 1h chart and 1 on 5min chart, 4. trendline hited on monthly chart with 50% fibo retracemant.. Go long at...
Buy at 1.223-1.225 tp/ 1.242 s/l 1.218 Sell at 1.242 tp/ 1.211 s/l 1.25
Buy at 1.25782 with target 1.35 stop loss 1.248
Possible H&S pattern on 1h chart If price come to 1.22170-1.22180 buy and take profit at 1.24 - 1.242 daily target resistance. Stop/loss 1.2180 = 40 pips Tp = 200 pips
This can happen in future, go short 1.097 and take profit at 1.083 area. Fibo extension also poiting 1.097 is area ok to sell.
As you can see abcd pattern mathces with upper trendline and resistence at 1.097 area.
Go long take profit at 1.265 = 180 pips Stop loss 1.24660 = 30 pips Risk/reward Ratio: 6.3 Good luck
The pair will rise more when neckline of that Head and shoulders will be broken. First target is 1.086-1.087 and final target is Fibo target 1.090. !.090 target is target of abcd pattern too, i will sell when it reach. Good luck and have a nice trading weeks :)
This can happen in few months
ABCD pattern which ends with final target 1.090-1.091. I will sell when reach this target. I come to this target with Fibo extension too... Good luck and have a nice weekend
Correlates nicely with DX too