The following is the USDCAD hourly chart as of FEB. 15th., around 3 AM EST. If you observe the chart you can see that it is going in a downtrend. I have drawn two trend lines one at the bottom and one at the top and it formed a symmetrical triangle. It’s not exactly a symmetrical triangle but it formed a triangle we can say. Most of the times triangles are formed in the direction trend and since they are an indication of continuous trend I am hoping the bottom trend line broken soon. Once the bottom trend line is broke with a strong bearish candlestick I will enter the trade in that direction.
USDCAD Symmetrical Triangle
You can also observe the four hour chart for trend confirmation. The following is the four hour chart of USDCAD currency pair.
USDCAD Four Hour Chart
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