USDCAD Is Following Broadening Formation Pattern where Market is right now is on Resistance Level plus yesterday candle showing bearish pin bar we have very Good Rejection and very Good Risk to Reward ratio.
There is 25 pips Risk and 150 pips Reward
Entry point 1.31419
1st Target: 1.31228
2nd Target: 1.30904
3rd Target: 1.30257
4th Target: 1.29918
Stop loss: 1.31678
What is a Broadening Formation.
A broadening formation occurs during high volatility when a security shows greater movement with little direction. It can be identified by a series of higher pivot highs and lower pivot lows.
Note: This is only for Educational Purpose this is not Investment advice.
Please support the setup with your likes, comments and by following on Trading View.
Thanks
Adil Khan.
There is 25 pips Risk and 150 pips Reward
Entry point 1.31419
1st Target: 1.31228
2nd Target: 1.30904
3rd Target: 1.30257
4th Target: 1.29918
Stop loss: 1.31678
What is a Broadening Formation.
A broadening formation occurs during high volatility when a security shows greater movement with little direction. It can be identified by a series of higher pivot highs and lower pivot lows.
Note: This is only for Educational Purpose this is not Investment advice.
Please support the setup with your likes, comments and by following on Trading View.
Thanks
Adil Khan.
