USDCAD - 240 - Good luck and break a... neck!
This is a quick view on what potentially could work out.
It seems that it wants to form a H-a-S. Now, I understand that there is still some potential to the downside, if we look at the Daily. But looking short-term, we can see that there is a possibility for that formation to happen.
At the moment, Volume is confirming the idea. But because the right shoulder is not finished yet, it still might end up being a false alarm. But if this will start heading back up towards the "neckline", then stay sharp, because we could potentially have a good trade.
You can either wait for a move closer to the "neckline" and then enter, or you can enter now, but have a stop at the lows of the "head".
Stay safe and keep an eye on the price action!
It seems that it wants to form a H-a-S. Now, I understand that there is still some potential to the downside, if we look at the Daily. But looking short-term, we can see that there is a possibility for that formation to happen.
At the moment, Volume is confirming the idea. But because the right shoulder is not finished yet, it still might end up being a false alarm. But if this will start heading back up towards the "neckline", then stay sharp, because we could potentially have a good trade.
You can either wait for a move closer to the "neckline" and then enter, or you can enter now, but have a stop at the lows of the "head".
Stay safe and keep an eye on the price action!