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amanpaulbhogal

Long USD/CAD

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
amanpaulbhogal  
FX:USDCAD   U.S. Dollar / Canadian Dollar
reversal_bar support 8ema-rejection 382 Fibonacci Retracement stochastic-convergence rsi-convergence
2
2
reversal_bar support 8ema-rejection 382fibonacciretracement stochastic-convergence rsi-convergence
Although the retracement/pullback on this pair is quite shallow my reasons for taking a long position are:

- Bullish/reversal bar following 2 seller bars
- Support at 1.3100 with close above
- 8 ema rejection/support and close above
- 0.382 Fibonacci level rejection and close above
- Stochastic and RSI convergence

entry - above high of low test bar
stop loss - below low of low test bar
target - above previous high for at least a 1:1 Reward:Risk trade
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