Here we have a VALID PATTERN on FX:USDCAD , that is coming close to the completion point. The main point to note here is that, this pattern has been formed within the consolidation zone that we have been in for the past 12 days. In general, tend to work best when they are formed during consolidation phases. I wanted to place the stop loss below the key psychological level, but that just ended up lowering our risk to reward ratio. Thus, I have decided to hide the stop loss just under the consolidation zone, in order to keep a favourable risk to reward for this setup. See the chart above for more details.
NOTE #1: I previous posted 2 additional patterns on this pair, but the entry never got triggered. But those 2 patterns are still valid since the C point was never violated and I will also be looking to trade those patterns, if we get them to complete as well. I have posted a link to the other 2 patterns on this same pair under the RELATED IDEAS below, make sure to check it out.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)