USDCAD Analysis - Long Setup - Trendline Play

2024년 11월 27일

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.