USD/CAD – High Probability Long Setup

Hey guys, welcome back! I'm Skeptic, and today I want to share an interesting long setup on USD/CAD that could present a solid trading opportunity. Let's break it down!

📌 1D Timeframe Analysis

• After the previous uptrend, USD/CAD entered a long consolidation phase within a daily range.
  
• Recently, we saw a fake breakout of the range low, followed by strong bullish momentum, indicating a potential attempt to break the key resistance at 1.45172.
  
• If this breakout is successful, we could see higher targets being tested.
  

📌 4H Timeframe & Entry Plan

🔹 Trigger: Entry after the breakout of 1.44545 resistance.
🔹 Execution: You can either place a stop-buy order or wait for a breakout confirmation on lower timeframes.
🔹 Stop-Loss: Below 1.43677 (safe level).
🔹 Target: Holding towards the daily resistance at 1.45172 and beyond.

📌 Why take this trade?

• We are anticipating the daily breakout before it happens, rather than chasing it after the fact.
  
• If you wait for confirmation above 1.45172, you may need a wider stop-loss, making the entry less favorable due to increased volatility.
  

📉 Risk management remains key! Make sure to size your position accordingly and avoid overleveraging.

💬 What’s your take on this USD/CAD setup? Drop your thoughts below!

🚀 See you in the next analysis!