USDCAD - PERFECT Bullish Flag - Trend Continuation
Updated
Hi Traders!
The market is in a healthy uptrend.
As you can see, the market has risen strongly.
It is making big trend moves and then some midterm retracement moves.
Now the market is in a retracement move.
It is at a resistance, but higher lows are coming in.
That means that the traders are ready to buy the market.
This creates an ascending triangle.
If we put all these information together, we can see that the market has formed a bullish flag.
So, because of the higher lows we can have a smaller Stop Loss and a greater risk-to-reward ratio.
Out target is at the same height as from the last swing.
We recommend to buy the breakout with a small SL and a RTR of 1 to 4.
Thanks and good luck :)!
The market is in a healthy uptrend.
As you can see, the market has risen strongly.
It is making big trend moves and then some midterm retracement moves.
Now the market is in a retracement move.
It is at a resistance, but higher lows are coming in.
That means that the traders are ready to buy the market.
This creates an ascending triangle.
If we put all these information together, we can see that the market has formed a bullish flag.
So, because of the higher lows we can have a smaller Stop Loss and a greater risk-to-reward ratio.
Out target is at the same height as from the last swing.
We recommend to buy the breakout with a small SL and a RTR of 1 to 4.
Thanks and good luck :)!
Trade closed: target reached
Hey Followers!The target reached - and reached not!
The reason is that the market opened with a huge gap and the pending order couldn't be triggered.
The markets are stirred up, as we all fell it ;).
Nevertheless, have a nice day :)
Order cancelled
Hey Followers!The target reached - and reached not!
The reason is that the market opened with a huge gap and the pending order couldn't be triggered.
The markets are stirred up, as we all fell it ;).
Nevertheless, have a nice day :)
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