How to Measure a Move: USDCAD
Hi traders, today we’re looking at a measured move in the video below.
The USDCAD formed a descending triangle and broke out of that pattern last week. Yesterday sellers continued to confirm the breakout with a 1.46% move lower.
Measured moves are used to gauge an idea of where a breakout could end up, it’s not a hard target but more of an estimation. We run over how to measure a move in our latest video below using the pattern from the USDCAD.
USDCAD Measured Move Breakdown.