251119-041219 USDCAD PROFIT

PATTERN FORMATION

Not the typical pattern here. The amplitude is larger than the typical waves in the up move.

TRADE

In the blue highlighted area, a steep black candle which closes below the 100%. And a resistance region is also formed below the typical 100% zone instead of on the 100% zone. This creates a bit of uneasiness. The confirmation is also indicated by the candles in the green highlighted area. But this is a typical false confirmation. 

Consequently, this becomes a speculative trade. I entered above the 100% zone, and put take profit at 161% dot. This is not the regular trade at all and is quite speculative. It paid off in the end.