USDCAD - M15 Ascending Triangle Breakout
Updated
On a higher time frame H4 and Daily, price closed above 1.618 extension of last up swing and aiming towards 2 and 2.24 levels.
When zoomed into smaller time frame M15, found Ascending Triangle suggesting a possible breakout upwards.
More aggressive traders can consider taking trade on the M15 time frame if price closes outside the triangle,
Entry: M15 candle closes outside the triangle
Stop Loss: 1.3278
Target 1 (T1): 1.33085 (shift stop loss to entry after T1 hit)
Final Target (FT): 1.33964
You can have multiple take profit targets between T1 and FT.
May all of your trades be green and achieve all your financial goals!
When zoomed into smaller time frame M15, found Ascending Triangle suggesting a possible breakout upwards.
More aggressive traders can consider taking trade on the M15 time frame if price closes outside the triangle,
Entry: M15 candle closes outside the triangle
Stop Loss: 1.3278
Target 1 (T1): 1.33085 (shift stop loss to entry after T1 hit)
Final Target (FT): 1.33964
You can have multiple take profit targets between T1 and FT.
May all of your trades be green and achieve all your financial goals!
Note
I will be looking to sell when price approaches 61.8 retracement level, around the 1.34 area.
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