USD/CAD price action is outlining what LOOKS to be a possible Ascending Triangle!
Ascending Triangles, made of Higher Lows into a Resistance zone, typically mean BULLISH momentum is starting to step in!!
*Ascending Triangle will be Tried and True if price action is able to break up above 1.35242!
**Price breaking down below Bottom Leg will INVALIDATE Chart Pattern!
-Keep in mind, Chart Patterns are known to fail 1/3 of the Time!
-BE AWARE OR FALSE BREAKS!
Ascending Triangles, made of Higher Lows into a Resistance zone, typically mean BULLISH momentum is starting to step in!!
*Ascending Triangle will be Tried and True if price action is able to break up above 1.35242!
**Price breaking down below Bottom Leg will INVALIDATE Chart Pattern!
-Keep in mind, Chart Patterns are known to fail 1/3 of the Time!
-BE AWARE OR FALSE BREAKS!
Note
Price has made its way up to and is now struggling to break the Resistance level at 1.35242!!-I believe this is a good indicator that this Ascending Triangle could play out correctly!!
*Need to see the bulls get price HIGHER!!
Note
Last 4Hr candle gave us that False Break I warned about!! DXY is charging Higher so we should see USD pull CAD up out of this resistance no problem!!
-Wait for the Valid Break!!
Note
ITS PINCH TIME!!!Price has made its 5th bounce off the Rising Support of the Ascending Triangle containing PA within the tip!
-Is this a sign USD is getting ready to break free?!?
Note
We were given a FALSE BREAK!! Price is now workings its way back through pattern for a BULLISH BREAK which will initiate my TRADE ACTION PLAN!!
STAYED TUNED!!
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
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Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
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.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
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.