USDCAD - Wait For The Rejection 📈

١٨ ديسمبر ٢٠٢٣Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📉USDCAD has been overall bullish trading inside the ascending triangle in red, and it is currently approaching around the lower bound / trendline.

Moreover, the zone 1.33 - 1.34 is a strong support.

🏹 So the highlighted red circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline acting as a non-horizontal support.

📚 As per my trading style:
As USDCAD is sitting around the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich