USDCAD - Is History Repeating Itself?

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

📈 USDCAD has been overall bullish, trading within the rising wedge pattern marked in blue.

Today, USDCAD broke above its previous major high (marked in red).

🏹 As it retests this previous high, it will also intersect with the lower blue trendline, which acts as a dynamic support level.

📚 According to my trading style:
As #USDCAD approaches the red zone, I'll be watching for bullish reversal setups—such as a double bottom pattern, a trendline break, and more.

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

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تم فتح الصفقة

The blue trendline has been broken, but the overall bias will remain bullish unless the last low marked in red is broken downward