USDCAD provides us 3 scenarios to trade. As mentioned in the chart above, we can have breakout in any direction, but broadening wedge ideally results in Upside breakout. If USDCAD decides to go on opposite direction, we can short USDCAD with proper stops.
The 3rd scenario is we have retested the previous support @ 1.3130's in USDCAD, so on Bullish confirmation we can enter long positions with proper stops below the support area. Before taking any type of trade either Pullback entry or Breakout, check your rules and risk-reward.
Happy Trading !
The 3rd scenario is we have retested the previous support @ 1.3130's in USDCAD, so on Bullish confirmation we can enter long positions with proper stops below the support area. Before taking any type of trade either Pullback entry or Breakout, check your rules and risk-reward.
Happy Trading !
