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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.
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