In my last trading idea for this pair, I mentioned that is a long term trade. Right now I see an AB=CD
pattern but not ready to entry because of RSI
in the 1 hour time frame ir
oversold so you will need to wait. Also you can see the simetrical triangle formed in the RSI
4h timeframe so if it is broken, so that is your time to entry. For TP1 I took my profits on time (almost the same price we´re right now) and waited for correction so now we´re ready for our next profits. This one wont be so profitable as TP1 but risk reward ratio is still 1 to 2 taking us to new support. Anyway, it will depends a lot of what happens to DXY
, and also we have CAD news for thursday and friday. Good luck with your trade.