USDCAD Swing setup possibly forming....
On the Weekly timeframe, USDCAD is slowly nearing a very interesting area. Watch this carefully, might take 1-3 weeks to reach there. This area has two times before been slightly touched. Jan 2016, REJECTED. March 2020, REJECTED.
My dream scenario is a triple tap to this resistance line and immediately followed by a big SELL.
This can be traded as a swing trade, or by using the sell off weeks for smaller day/intraday trades.
My plan is to open one swing trade with 0.5% risk and keep it running for as long as it takes. Then I will use another 0.5% risk on this pair for day trading on the way down.
My dream scenario is a triple tap to this resistance line and immediately followed by a big SELL.
This can be traded as a swing trade, or by using the sell off weeks for smaller day/intraday trades.
My plan is to open one swing trade with 0.5% risk and keep it running for as long as it takes. Then I will use another 0.5% risk on this pair for day trading on the way down.
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