Analysis of #USDCAD
Hi traders, today we will have a look at #USDCAD
as you can see on my chart we have a beautiful beautiful bearish harmonic Gartly pattern which may or may not complete near a very good structure resistance level.
There are two ways to enter this pattern as you know you can set a limit order at the D leg completion which will be near 1.3650, this way you will have a negative risk to reward.
the other way is to wait for the market to reach the optimum level near the structure resistance level of approximately 1.3675 which will give you the optimum risk to reward as you can see, which is how I like to trade
I rather wait and see the market pushing and testing the structure resistance level and after that, if I see a reversal pattern like double top or head and shoulders or any bearish candle formation I will take that as a signal to get in the pattern and short the market
I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one
Thanks for your continued support!
Hi traders, today we will have a look at #USDCAD
as you can see on my chart we have a beautiful beautiful bearish harmonic Gartly pattern which may or may not complete near a very good structure resistance level.
There are two ways to enter this pattern as you know you can set a limit order at the D leg completion which will be near 1.3650, this way you will have a negative risk to reward.
the other way is to wait for the market to reach the optimum level near the structure resistance level of approximately 1.3675 which will give you the optimum risk to reward as you can see, which is how I like to trade
I rather wait and see the market pushing and testing the structure resistance level and after that, if I see a reversal pattern like double top or head and shoulders or any bearish candle formation I will take that as a signal to get in the pattern and short the market
I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one
Thanks for your continued support!
