USD/CAD - Swing Trade - Trendline break
Trendline Break Play:
1.Wait for a valid trendline break on a higher timeframe (e.g., 1-hour chart).
2.Wait for Closure Above 1-Hour Resistance:
Wait for a full candle to close above this resistance to ensure a genuine breakout.
3.Wait for Retest of Support:
After the breakout and closure above resistance, wait for the price to retrace.
The previous resistance should now act as support.
4.Take Entry on Support:
Enter the trade when the price touches the newly formed support.
5.Risk Management:
Place a stop loss below the retested support level, giving some buffer to account for volatility.
1.Wait for a valid trendline break on a higher timeframe (e.g., 1-hour chart).
2.Wait for Closure Above 1-Hour Resistance:
Wait for a full candle to close above this resistance to ensure a genuine breakout.
3.Wait for Retest of Support:
After the breakout and closure above resistance, wait for the price to retrace.
The previous resistance should now act as support.
4.Take Entry on Support:
Enter the trade when the price touches the newly formed support.
5.Risk Management:
Place a stop loss below the retested support level, giving some buffer to account for volatility.
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