USD/CAD – 30-Min Long Trade Setup!
🔍 🚀
🔹 Asset: USD/CAD
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Falling Wedge Breakout (Long Trade)
📌 Trade Plan (Long Position)
✅ Entry Zone: Above 1.43512 (Breakout Confirmation)
✅ Stop-Loss (SL): Below 1.43098 (Invalidation Level)
🎯 Take Profit Targets:
📌 TP1: 1.44211 (First Resistance)
📌 TP2: 1.45058 (Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance): 1.43512 - 1.43098 = 0.00414 per USD/CAD
📈 Reward to TP1: 1.44211 - 1.43512 = 0.00699 (1:1.7 R/R)
📈 Reward to TP2: 1.45058 - 1.43512 = 0.01546 (1:3.7 R/R)
🔍 Technical Analysis & Strategy
📌 Falling Wedge Breakout: Price is breaking out of a downward trendline, signaling a potential bullish reversal.
📌 Support Rejection: Strong bounce from 1.43098 support, confirming buyer interest.
📌 Breakout Confirmation Needed: Price should hold above 1.43512 with strong volume.
📌 Momentum Shift Expected: If price stays above 1.43512, an upside move to 1.44211, then 1.45058, is likely.
📊 Key Support & Resistance Levels
🟢 1.43098 – Stop-Loss / Strong Support
🟡 1.43512 – Breakout Level / Long Entry
🔴 1.44211 – First Resistance / TP1
🔴 1.45058 – Final Target / TP2
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Look for high buying volume above 1.43512 before entering.
📉 Trailing Stop Strategy: Move SL to break-even (1.43512) after TP1 (1.44211) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at 1.44211, let the rest run toward 1.45058.
✔ Adjust Stop-Loss to Break-even (1.43512) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If price fails to hold above 1.43512 and drops back, exit early to avoid losses.
❌ Wait for a strong bullish candle close above 1.43512 before entering aggressively.
🚀 Final Thoughts
✔ Bullish Setup – Breakout from a falling wedge suggests a potential trend reversal.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.7 to TP1, 1:3.7 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📈
🔹 Asset: USD/CAD
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Falling Wedge Breakout (Long Trade)
📌 Trade Plan (Long Position)
✅ Entry Zone: Above 1.43512 (Breakout Confirmation)
✅ Stop-Loss (SL): Below 1.43098 (Invalidation Level)
🎯 Take Profit Targets:
📌 TP1: 1.44211 (First Resistance)
📌 TP2: 1.45058 (Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance): 1.43512 - 1.43098 = 0.00414 per USD/CAD
📈 Reward to TP1: 1.44211 - 1.43512 = 0.00699 (1:1.7 R/R)
📈 Reward to TP2: 1.45058 - 1.43512 = 0.01546 (1:3.7 R/R)
🔍 Technical Analysis & Strategy
📌 Falling Wedge Breakout: Price is breaking out of a downward trendline, signaling a potential bullish reversal.
📌 Support Rejection: Strong bounce from 1.43098 support, confirming buyer interest.
📌 Breakout Confirmation Needed: Price should hold above 1.43512 with strong volume.
📌 Momentum Shift Expected: If price stays above 1.43512, an upside move to 1.44211, then 1.45058, is likely.
📊 Key Support & Resistance Levels
🟢 1.43098 – Stop-Loss / Strong Support
🟡 1.43512 – Breakout Level / Long Entry
🔴 1.44211 – First Resistance / TP1
🔴 1.45058 – Final Target / TP2
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Look for high buying volume above 1.43512 before entering.
📉 Trailing Stop Strategy: Move SL to break-even (1.43512) after TP1 (1.44211) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at 1.44211, let the rest run toward 1.45058.
✔ Adjust Stop-Loss to Break-even (1.43512) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If price fails to hold above 1.43512 and drops back, exit early to avoid losses.
❌ Wait for a strong bullish candle close above 1.43512 before entering aggressively.
🚀 Final Thoughts
✔ Bullish Setup – Breakout from a falling wedge suggests a potential trend reversal.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:1.7 to TP1, 1:3.7 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📈
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.