Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈USDCAD has been overall bullish from a macro perspective trading within the rising blue channel.
This week, USDCAD has been in a correction phase trading within the falling red channel.
Moreover, the green zone is a strong resistance turned support.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower red/blue trendlines acting non-horizontal support.
📚 As per my trading style:
As #USDCAD approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 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.
📈USDCAD has been overall bullish from a macro perspective trading within the rising blue channel.
This week, USDCAD has been in a correction phase trading within the falling red channel.
Moreover, the green zone is a strong resistance turned support.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower red/blue trendlines acting non-horizontal support.
📚 As per my trading style:
As #USDCAD approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 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.
Trade Made Simple
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
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.
Trade Made Simple
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
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.