Hello trader,
I am back after some moment with a potential setup that can move up 700pip or more on the USDCAD, the USDCAD is trend down for a long time without giving a clear pullback till it makes it to its last clear setup that leads to its initial uptrend before the drop.
the initial setup is a swing low then the price fails to break it and create a new swing high low which I illustrated it as (SMS), then a clear break of structure which i illustrated as (BOS) then the price rallied far away without returning till this date to the last candle with is engulfed pinbar which is my decision point for a reversal pattern.
I am back after some moment with a potential setup that can move up 700pip or more on the USDCAD, the USDCAD is trend down for a long time without giving a clear pullback till it makes it to its last clear setup that leads to its initial uptrend before the drop.
the initial setup is a swing low then the price fails to break it and create a new swing high low which I illustrated it as (SMS), then a clear break of structure which i illustrated as (BOS) then the price rallied far away without returning till this date to the last candle with is engulfed pinbar which is my decision point for a reversal pattern.
Note
As shown in the weekly analysis that the price range and then grab liquidity then its final move with the same candlestick pattern which is the pin bar
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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.