Descending Triangle pattern in USDCAD. Wait for breakout.

USDCAD Descending Triangle chart pattern

USDCAD creates a chart structure with lower highs and equal lows.

it’s moving in a Descending Triangle pattern.

let’s wait for the confirmation of breakout from this descending triangle.

In another view, USDCAD forms a symmetrical triangle in 1 hour chart

Symmetrical triangle broken on USCAD 1 hr chart
Symmetrical triangle broken on USCAD 1 hr chart

After breakout happened at the bottom level of the symmetrical triangle, market re-tested the broken level twice.

Education notes:

Symmetrical Triangle = Lower highs, Higher lows

Descending Triangle = Lower highs, Equal lows

Check live Free forex signals now.

To increase your trading profits, read this below topics:

Forex Trading Complete Guide

How to trade profitably using Chart Patterns?

Low risk, High reward trading strategies

How to get rich trading forex market?

Best Forex Brokers

Most predictable Currency Markets

If you want to learn more successful trading techniques with free mentorship support, you can purchase the forex trading video course.

Thank you.

FOREX GDP

Forex GDP team provides High Quality Forex signals services exclusively to all type of traders around the world. Each signal given with chart analysis that helps you to trade with confidence on your account. Forex GDP team worked with Major banks, Financial Institutions, Liquidity providers, Forex brokers in different job positions such as Equity Dealer, Fund Manager, Senior Market Analyst, Risk Manager and other major roles in Forex Trading Companies. Try free now to see the quality trades on your account.

FOREX GDP

Don't trade all time, Trade Forex only at Confirmed Setup

X