USDCAD Long Setup

2020年4月30日

After the blow off top at around 1.46$ we seem to have found a support on the 50 MA on the daily timeframe @ 1.39$. The overall trend is bearish as we have been forming a descending triangle for the past couple weeks, which explains the tight stop-loss at around 1.3875. That being said we have been selling off this whole week totaling at around 3% so I expect a little breather to the 1.40 range before further downside movement.

I'm personally looking to enter next trading week but I do have I buy order at 1.39. Cheers.
TP @ 1.403
SL @1.3875