USDCAD Analysis - Long Setup - Trendline Play
I have been activated in a long position on USDCAD.
Here’s my reasoning:
The downward trendline has been broken, as confirmed by a candle body close above it.
The upward trendline is still intact, suggesting potential bullish continuation.
Trade Details:
Entry Point: At the 1-hour resistance zone.
Stop Loss: Placed below the upward trendline and the recent lower low for added protection.
Target: Aiming for the daily high as the primary take-profit level.
This setup aligns with my strategy for trading trend reversals and continuations.
Here’s my reasoning:
The downward trendline has been broken, as confirmed by a candle body close above it.
The upward trendline is still intact, suggesting potential bullish continuation.
Trade Details:
Entry Point: At the 1-hour resistance zone.
Stop Loss: Placed below the upward trendline and the recent lower low for added protection.
Target: Aiming for the daily high as the primary take-profit level.
This setup aligns with my strategy for trading trend reversals and continuations.
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.