**USDCAD Trade Idea (1H Chart Analysis)**
**Market Structure:**
- The price is in a **downtrend** on the 1H chart, with lower highs and lower lows forming.
- It is currently testing a **key support level** around **1.4350**.
- The **50 EMA (black line) is above the price**, confirming bearish momentum.
- The recent candles show **decreasing volume**, indicating possible consolidation before the next move.
**Trade Plan**
**Scenario 1: Bearish Breakdown (Sell Trade)**
📉 **Entry:** Below **1.4350**, after a strong bearish candle closes.
🎯 **Target 1:** **1.4320** (previous minor support)
🎯 **Target 2:** **1.4280** (stronger support zone)
🛑 **Stop Loss:** **1.4375** (above recent lower high)
📊 **Risk-to-Reward Ratio:** 1:2 or better
**Confirmation:** If price breaks 1.4350 with strong volume, it signals continuation of the downtrend.
**Scenario 2: Bullish Reversal (Buy Trade)**
📈 **Entry:** If price **bounces from 1.4350** and forms a strong bullish engulfing candle.
🎯 **Target 1:** **1.4395** (previous resistance)
🎯 **Target 2:** **1.4415-1.4420** (major resistance zone)
🛑 **Stop Loss:** **1.4335** (below recent low)
📊 **Risk-to-Reward Ratio:** 1:2
**Confirmation:** A strong rejection from 1.4350 with bullish volume indicates potential reversal.
**Final Thoughts**
- **Bias:** Bearish unless we see a clear reversal signal at 1.4350.
- **Watch for a breakout or bounce at key levels before entering.**
- **Always use risk management** – never risk more than 1-2% per trade!https://www.tradingview.com/x/NRcnbgEW/
**Market Structure:**
- The price is in a **downtrend** on the 1H chart, with lower highs and lower lows forming.
- It is currently testing a **key support level** around **1.4350**.
- The **50 EMA (black line) is above the price**, confirming bearish momentum.
- The recent candles show **decreasing volume**, indicating possible consolidation before the next move.
**Trade Plan**
**Scenario 1: Bearish Breakdown (Sell Trade)**
📉 **Entry:** Below **1.4350**, after a strong bearish candle closes.
🎯 **Target 1:** **1.4320** (previous minor support)
🎯 **Target 2:** **1.4280** (stronger support zone)
🛑 **Stop Loss:** **1.4375** (above recent lower high)
📊 **Risk-to-Reward Ratio:** 1:2 or better
**Confirmation:** If price breaks 1.4350 with strong volume, it signals continuation of the downtrend.
**Scenario 2: Bullish Reversal (Buy Trade)**
📈 **Entry:** If price **bounces from 1.4350** and forms a strong bullish engulfing candle.
🎯 **Target 1:** **1.4395** (previous resistance)
🎯 **Target 2:** **1.4415-1.4420** (major resistance zone)
🛑 **Stop Loss:** **1.4335** (below recent low)
📊 **Risk-to-Reward Ratio:** 1:2
**Confirmation:** A strong rejection from 1.4350 with bullish volume indicates potential reversal.
**Final Thoughts**
- **Bias:** Bearish unless we see a clear reversal signal at 1.4350.
- **Watch for a breakout or bounce at key levels before entering.**
- **Always use risk management** – never risk more than 1-2% per trade!https://www.tradingview.com/x/NRcnbgEW/
Trade active
### **USD/CAD Trade Update 🚀** ✅ **Target Hit!** USD/CAD reached **TP2 at 1.44500**, confirming the **bullish scenario**.
📈 **All trades closed**—secure your profits!
🔔 **Next Steps:** Stay tuned for more **trading ideas & market updates.**
Trade closed: target reached
close all 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.
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.