USDCAD: Watch For A Buy Setup At Key Level

Looking at the 4h chart we may see price in an uptrend making HH and HL. It's now retracing and most likely will test a slide parallel of a median line where previously we had price action (red arrows). If price reaches the trendline we should start watching for a buy setup to complete and go long.

Remember that a level in a chart is only something to watch closely for a setup to complete. Our strategy defines if we should enter a market or not. So use your own strategy and follow its rules.!