Shark patterns ideally have 3 PRZs. This shark pattern has 2 PRZs, where PRZ 1 is invalid IF price goes way beyond that zone.
The cut in oil production didn't affect USDCAD drastically, price is settling close to the bottom of the daily ED channel.
If pattern completes at PRZ 1 before the Fed interest rate decision and FOMC, I will be looking to long this pair.
Market sentiment is toward the rise in interest rate, and the risk : reward ratio is good for this crab pattern at 3.82 (PRZ 1) and 5.4 (PRZ 2).
I will update when pattern completes. Cheers.
The cut in oil production didn't affect USDCAD drastically, price is settling close to the bottom of the daily ED channel.
If pattern completes at PRZ 1 before the Fed interest rate decision and FOMC, I will be looking to long this pair.
Market sentiment is toward the rise in interest rate, and the risk : reward ratio is good for this crab pattern at 3.82 (PRZ 1) and 5.4 (PRZ 2).
I will update when pattern completes. Cheers.
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What a rally from the increase in interest rates, no PRZ was hit and price rallied beyond TP.Hope you guys caught some profit for USD pairs.
For me, I was sleeping due to the difference in time zone haha.
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