USDCAD H4 LONG TRADE SETUP & ANALISYS

USDCAD has been trading in a descending triangle in D1, H4 price is forming and short-term uptrend bias supported by the trendline, before reaching the top from the descending triangle MACD is showing diminished bullish momentum. Price action should reverse till reaching FIB level 0.5 + testing support from trendline and triggering the order. Finding strong support from fib level and trendline for further uptrend continuation.

S/L: 37.5 PIPS
R:R 1:2

Trade closed: stop reached

#USD came into strong bearish pressure and it wasn't able to hold its grounds, price action broke even the the support level from the consolidation pattern.

@transparent-fx showed that in his technical analysis. Good call

OGFXTRADER

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