USDCAD H4 Cypher on a daily channel
Hello traders today I have on my radar a swing trade on USDCAD.
A cypher is near completion. The completion point and the reversal zone is near the upper trendline of a daily channel. I'm planning to wait for a reversal sign near completion before taking the trade.
But for the target I'm planning to swing all the way to the support just up to the downside trendline. I can have a R:R of 2 for this type of trade.
I'm not planning to take multiple target but move the stop to Break even if the price goes below 38,2% CD.
Stay tuned for this set up.
Happy trading
A cypher is near completion. The completion point and the reversal zone is near the upper trendline of a daily channel. I'm planning to wait for a reversal sign near completion before taking the trade.
But for the target I'm planning to swing all the way to the support just up to the downside trendline. I can have a R:R of 2 for this type of trade.
I'm not planning to take multiple target but move the stop to Break even if the price goes below 38,2% CD.
Stay tuned for this set up.
Happy trading
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