USD/CAD Long (1hour chart): Prepare for the Buys!!!
Hello traders, please take a moment to view my idea on USDCAD for the week, enjoy!!!
Reward: 617 pips 🤑
Risk: 34 pips ❌
Risk/Reward Ratio: 17.47 ✅
Chart Breakdown:📈📉
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DR.Swing_Forex
Reward: 617 pips 🤑
Risk: 34 pips ❌
Risk/Reward Ratio: 17.47 ✅
Chart Breakdown:📈📉
- 4 Hour: We are currently in a downtrend. Price formed a fake-out and re-tested the trendline again and is now approaching a support level close to the downward trendline that might be broken/respected and form a breakout.
- 1 Hour: Price approaching a pivotal support and resistance level that might act as support to give us a chance to enter buys in anticipation of price gathering enough bullish momentum to breakout of the downward trendline.
Price is approaching a upward trendline formed on the 15min trendline. I will enter upon a touch of the upward trendline and formation of a bullish reversal candlestick pattern.
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DR.Swing_Forex