Invictavis
Short

Rising Wedge forming on USDCAD

FX:USDCAD   US-Dollar / Kanadischer Dollar
Despite being relatively more unpredictable than usual in the past few days, the pair seems to be forming a rising wedge . This is an indication that the strength of the bulls is waning, and that all signs point to an impending downturn for the pair.

However, there are 3 realistic targets that I can see from the chart which makes me a little uneasy about my TP levels. Due to its unpredictability, I will be focusing more on Target 1 (which is very strong here) and then planning accordingly based on price action.

As always, take the necessary precautions when trading!

Setup:
Entry: 1.33354
TP: 1.32952
SL: 1.33464
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