USD/CAD Descending triangle short Idea.
Hey, I am back with another chart, this time looking at Forex chart of USD/CAD on a daily time frame.
This pair is in a descending triangle pattern which is formed by a downtrend and one support level and this is considered as a bearish🐻 pattern.
I would trade this as follows
Entering short position at the downtrend so that way if the downtrend gets broken you can have a tight SL
or
Entering short position after the bottom support line of the descending triangle is broken.
Have a good luck with trading, don't forget to stick to your strategy.
Each new follower and like is very much appreciated! 🙌
This pair is in a descending triangle pattern which is formed by a downtrend and one support level and this is considered as a bearish🐻 pattern.
I would trade this as follows
Entering short position at the downtrend so that way if the downtrend gets broken you can have a tight SL
or
Entering short position after the bottom support line of the descending triangle is broken.
Have a good luck with trading, don't forget to stick to your strategy.
Each new follower and like is very much appreciated! 🙌
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Another good profit of 118 pips has been taken!