USDCAD Possible breakout
I am waiting for a possible short position. If the specified supply area will reject the price down way it may also break the triangle line. Occurrence of both signals would increase the probability.
( For rejection I am expecting to see a wick from the most current bars reaches the supply area. )
( For rejection I am expecting to see a wick from the most current bars reaches the supply area. )
Note
Supply area is important because there is a symmetric engulf.Trade closed: target reached
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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.