📈 USDCAD Long Setup Idea – Weekly Play 💯
Here’s a clean bullish setup on USDCAD (2H timeframe) I’m eyeing for this week:
🔹 Key Zones:
- Demand Zone: Strong reaction from the 1.35500–1.36000 area, with price respecting this grey support block multiple times.
- Supply Flip: Previous structure zone turned potential demand.
🔹 Entry:
- Long position placed after liquidity grab and bullish rejection within the demand zone.
- Market structure is beginning to shift bullish after consecutive lower highs and lows broke.
🔹 Risk Management:
- SL below the demand zone at ~1.35512
- TP set near previous high around 1.37960 (resistance zone)
🔹 RRR (Risk to Reward Ratio):
- Solid risk/reward potential on this play – targeting a 3R move if momentum holds.
🔹 Trade Bias:
- Looking for a deeper retracement continuation up, aligning with possible DXY pullback.
- Watching for confirmations like bullish engulfing or structure break for entry trigger.
📊 Stay patient, follow price action, and manage risk properly.
Here’s a clean bullish setup on USDCAD (2H timeframe) I’m eyeing for this week:
🔹 Key Zones:
- Demand Zone: Strong reaction from the 1.35500–1.36000 area, with price respecting this grey support block multiple times.
- Supply Flip: Previous structure zone turned potential demand.
🔹 Entry:
- Long position placed after liquidity grab and bullish rejection within the demand zone.
- Market structure is beginning to shift bullish after consecutive lower highs and lows broke.
🔹 Risk Management:
- SL below the demand zone at ~1.35512
- TP set near previous high around 1.37960 (resistance zone)
🔹 RRR (Risk to Reward Ratio):
- Solid risk/reward potential on this play – targeting a 3R move if momentum holds.
🔹 Trade Bias:
- Looking for a deeper retracement continuation up, aligning with possible DXY pullback.
- Watching for confirmations like bullish engulfing or structure break for entry trigger.
📊 Stay patient, follow price action, and manage risk properly.
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.