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USDCAD - Follow The Trend 📈

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

📈 USDCAD has exhibited an overall bullish trend, trading inside the rising channel in blue.

At present, USDCAD is undergoing a correction phase and it is currently approaching the lower bound of the channel.

Moreover, it is retesting a strong resistance turned support highlighted in green.

🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green support and lower blue trendline acting as a non-horizontal support.

📚 As per my trading style:
As #USDCAD approaches the lower 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