USDCAD - Bullish?

Jul 24, 2023

USDCAD

I entered a buy position on USDCAD at the pullback to the swing discount, targeting the old high on 4H.

Why the old high?

Above the old high there is a weekly FVG.

Reason Behind The Buy?

Price created a swing low on the weekly time frame right at the the weekly order block serving as support for price.

So, I expect price to bounce off weekly level to fill the FVG above, which is the external liquidity.
Price already took liquidity from the old lows.

Those are my thoughts behind the trade.

Jul 27, 2023

Trade closed: stop reached

This trade hit my stop loss.

But it was a beautiful trade nonetheless.