USDCAD double scenario!
Symmetrical triangle down break with subsequent retracement to the break level. However, the long-term Guppy GMMA is still fairly spread, which may indicate that the up trend is still in place. Thus two scenarios may occur:
- Scenario 1:
Short @ 1.3200 - 1.3210 range
Stoploss @ 1.3275 level
Target 1 @ 1.3064 level ( 50% of the base of the triangle)
Target 2 @ 1.2982 level or lower...
- Scenario 2:
Long if price closes above 1.3310 level
Stoploss @ 1.3260
Target 1 @ 1.3437 level ( 50% of the base of the triangle)
Target 2 @ 1.3516 level or higher
Happy trading!
- Scenario 1:
Short @ 1.3200 - 1.3210 range
Stoploss @ 1.3275 level
Target 1 @ 1.3064 level ( 50% of the base of the triangle)
Target 2 @ 1.2982 level or lower...
- Scenario 2:
Long if price closes above 1.3310 level
Stoploss @ 1.3260
Target 1 @ 1.3437 level ( 50% of the base of the triangle)
Target 2 @ 1.3516 level or higher
Happy trading!
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