USD/CAD Long (1hour chart): Prepare for the Buys!!!
Prepare for the buys!!!
Greetings fellow traders, according to my personal analysis, I see a potential bullish move on USDCAD for the next few days.
First and foremost, price is reversing at that minor resistance level which indicates price will go down to find demand most probably at the upward trendline that I have drawn.
Secondly I can see that price tested a level that is a previous lower high of the downtrend, this gives us a signal that a change in trend is near.
I will wait for these three things before entry:
A bullish reversal candlestick pattern
A touch of the upward trendline
A touch of the support level
This is all the confluence I need to take my entry, making this a high probability setup.
Risk: 16pips
Reward: 77 pips
Please feel free to like if you agree with the idea and feel free to comment as well.
Please follow if you would like to see more quality ideas!!!
DR.Swing_Forex
Greetings fellow traders, according to my personal analysis, I see a potential bullish move on USDCAD for the next few days.
First and foremost, price is reversing at that minor resistance level which indicates price will go down to find demand most probably at the upward trendline that I have drawn.
Secondly I can see that price tested a level that is a previous lower high of the downtrend, this gives us a signal that a change in trend is near.
I will wait for these three things before entry:
A bullish reversal candlestick pattern
A touch of the upward trendline
A touch of the support level
This is all the confluence I need to take my entry, making this a high probability setup.
Risk: 16pips
Reward: 77 pips
Please feel free to like if you agree with the idea and feel free to comment as well.
Please follow if you would like to see more quality ideas!!!
DR.Swing_Forex