USDCAD LONG

15 mai 2020

Over the past couple of days USDCAD has been an an obvious uptrend showcasing higher high and high lows throughout the week. As you can see price got within a few pips of my daily supply zone before going to the downside again. With the pair being in an uptrend I am looking to to go long now on this trade willing to risk about 20 pips or so to see how this one will play out. To add some confluence I drew a fibonnaci retracement from the recent low to high and price has been rejecting in between the 61.8% and the 78.6% level. Two confirmations so I am in comfortably setting my stop loss just past the 78.6% level. Keep trading guys and remember to always use proper risk management.