USDCAD 240 Trend Continuation - Reversal Zone
USDCAD is coming into Daily Support. This is a Potential Reversal Zone for the resumption of the uptrend. Price has created a descending channel right into the support area. These descending channels tend to breakout to the upside.
Stops - Need to be at least 1 ATR below reversal zone.
Targets - Potential Targets are shown on the chart.. They are based upon Structure.. They are simply Resistance Levels overhead.
Stops - Need to be at least 1 ATR below reversal zone.
Targets - Potential Targets are shown on the chart.. They are based upon Structure.. They are simply Resistance Levels overhead.
Trade active:
I bought after the Break and Close out of the Descending Channel.
Stops are for me are 1 ATR Below the Breakout bar. IF that gets stopped out THEN i have to be willing to take this a pure structure trade by buying again at a better price and getting stops below the Reversal Zone!
Stops are for me are 1 ATR Below the Breakout bar. IF that gets stopped out THEN i have to be willing to take this a pure structure trade by buying again at a better price and getting stops below the Reversal Zone!