USDCAD | Cup & Handle

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Reason for a Long Position: Price forming a Cup & Handle. Price was supported by Pivot Point and Ichi Cloud support zone.

-You can consider to initiate a long position on a breakout of horizontal resistance for the pattern to be fully confirmed.

Always use Stop-Losses in your trades! (little recommendation - Choose your Stop-Loss in the way to get 1/3 Risk Reward ratio at least.)

Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.

Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.

The information given is not a Financial Advice.