USDCAD (3H chart) setup — here’s what can be seen and the likely target analysis based on my chart:
🔍 Chart Observations:
The pair has broken out of a descending channel (marked by the two slanting lines).
Price is currently around 1.3999 and testing the upper boundary of the breakout.
The chart also uses Ichimoku Cloud, with price beginning to move above the cloud area — a bullish sign.
Two target points are already drawn on my chart.
🎯 Target Levels:
1. First Target (Short-term):
📍 Around 1.4020 – 1.4030
→ This aligns with my first “target point” label and matches initial resistance from the cloud zone.
2. Second Target (Main Bullish Target):
📍 Around 1.4070 – 1.4080
→ This corresponds to the higher target level drawn on my chart and previous horizontal resistance zone.
✅ Summary:
Buy Zone: 1.3980 – 1.4000
TP1: 1.4020
TP2: 1.4070
Stop Loss (SL): Below 1.3960 (under the support base)
This setup supports a bullish breakout continuation toward 1.4070 if the price sustains above 1.4000.
🔍 Chart Observations:
The pair has broken out of a descending channel (marked by the two slanting lines).
Price is currently around 1.3999 and testing the upper boundary of the breakout.
The chart also uses Ichimoku Cloud, with price beginning to move above the cloud area — a bullish sign.
Two target points are already drawn on my chart.
🎯 Target Levels:
1. First Target (Short-term):
📍 Around 1.4020 – 1.4030
→ This aligns with my first “target point” label and matches initial resistance from the cloud zone.
2. Second Target (Main Bullish Target):
📍 Around 1.4070 – 1.4080
→ This corresponds to the higher target level drawn on my chart and previous horizontal resistance zone.
✅ Summary:
Buy Zone: 1.3980 – 1.4000
TP1: 1.4020
TP2: 1.4070
Stop Loss (SL): Below 1.3960 (under the support base)
This setup supports a bullish breakout continuation toward 1.4070 if the price sustains above 1.4000.
Trade active
active active Note
200 pips hit Trade closed: target reached
1st target done
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.