USDCAD - Is History Repeating Itself?

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈 USDCAD has been overall bullish, trading within the rising wedge pattern marked in blue.

Today, USDCAD broke above its previous major high (marked in red).

🏹 As it retests this previous high, it will also intersect with the lower blue trendline, which acts as a dynamic support level.

📚 According to my trading style:
As #USDCAD approaches the red zone, I'll be watching for bullish reversal setups—such as a double bottom pattern, a trendline break, and more.

📚 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.

交易進行

The blue trendline has been broken, but the overall bias will remain bullish unless the last low marked in red is broken downward