Get started
U.S. Dollar / Canadian Dollar
Long

USDCAD long setup

By TradingFellow
Updated
The USDCAD pair has been in an uptrend in the medium-term direction. Recently this pair has been retracing since the 6th of October. This retracement falls right into the round 1.2500 level, together with a 61.8% retracement off the impulsleg and a forming AB=CD pattern this creates a solid buy setup.

Targets will be taken @1.2586
Stoploss beneath the entry point @1.2480

Happy banking!
Trade active
AB=CDfibbsFibonacciLONGsetupSupport and ResistancetradingtradingfellowTrend LinesUSDCAD
TradingFellow

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.