Trading Analysis for USDCAD - Potential scenarios and entries
Upside Breakout: If the price breaks above the upper red trend line with confirmation, it suggests a bullish breakout.
Downside Breakout: If the price breaks below the lower green trend line with confirmation, it suggests a bearish breakout.
Entry:
Upside Breakout: Consider a long position with confirmation above the upper red trend line.
Look for a move toward the upper target indicated by the upper arrow.
Downside Breakout: Consider a short position with confirmation below the higher red line and then below the lower green trend line with confirmation.
Look for a move toward the lower target indicated by the lower arrows.
Watch for the confirmations to enter the trade in each direction.
Disclaimer: This is not financial advice. Always do your own analysis and consider your risk tolerance before entering any trades.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.