USDCAD Long On 200 SMA Bounce

10 thg 12, 2018

USDCAD has been trading within a daily uptrend channel. The 4H shows a long swing opportunity where the price has already bounced off the 200 SMA twice. Entry can be set around the 200 SMA with a stop loss set below the previous swing low. If you switch to the daily you'll see this stop loss is also protected by the 50 EMA. Profit target can be set between 2-2.5.