USD/CAD Is This Cup And Handle Valid
Hello fellow traders,
As you can see on a weekly time frame we can see a huge cup and handle formed. Is it showing that we will see the rising in the next months up to a year?
I would say yes.
After 6 years of down trend we started forming this huge cup and handle, and on a long term I think we are headed for retest of the highest highs.
As you can see on my chart, just to make clear, we did make a double top, ofcourse there is a high probability of touching the support. But after that I see USD/CAD climbing up from there. Please keep in mind, that like my previous analysis I am talking very long term here.
Once we break the double top level I will go long on this pair.
Managing my risk really changed my trading. I do like to swing trade mostly and that is why i usually post just my long term insight and how I see things on that level.
Looking for entries and outs and specific trade plan ofcourse go to lower frames, but keep this just as an idea and long term perspective.
I really appreciate every follow, comment and like, it really gives sense to posting my ideas.
Thank you very much, and wish you all smart and profitable trades.
As you can see on a weekly time frame we can see a huge cup and handle formed. Is it showing that we will see the rising in the next months up to a year?
I would say yes.
After 6 years of down trend we started forming this huge cup and handle, and on a long term I think we are headed for retest of the highest highs.
As you can see on my chart, just to make clear, we did make a double top, ofcourse there is a high probability of touching the support. But after that I see USD/CAD climbing up from there. Please keep in mind, that like my previous analysis I am talking very long term here.
Once we break the double top level I will go long on this pair.
Managing my risk really changed my trading. I do like to swing trade mostly and that is why i usually post just my long term insight and how I see things on that level.
Looking for entries and outs and specific trade plan ofcourse go to lower frames, but keep this just as an idea and long term perspective.
I really appreciate every follow, comment and like, it really gives sense to posting my ideas.
Thank you very much, and wish you all smart and profitable trades.
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.