After falling to its June 14 low, the USD/CAD currency pair began rising slowly, forming a perfect ascending channel pattern on its
The channel is marked with the yellow borders on the image below. The cyan line is my entry trigger, which is placed at 10% of the channel’s width below the lower border. The same (but at 100% of the width) goes for the green line, which is my target trigger in case the short position is opened. I will put my
I detected this channel using the Channel Pattern Detector indicator and built this chart using the ChannelPattern script. You can download my MetaTrader 4 chart template for this USD/CAD pattern. You can trade it using my free Chart Pattern Helper EA.
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