I’ve entered a buy position on USD/CAD as the pair is maintaining a bullish market structure on the higher timeframes. The daily chart shows clear bullish momentum, while the 4-hour timeframe confirms a series of higher highs (HH) and higher lows (HL), indicating a healthy uptrend continuation.
The price recently retested the ascending trendline and is showing signs of rejection, suggesting strong buyer interest at this level. Additionally, the Alligator indicator is starting to realign in a bullish formation, supporting potential upward movement.
My entry aligns with the trendline support and structure-based confluence, with a target towards the previous swing high zone, while maintaining a well-defined risk-to-reward ratio.
The price recently retested the ascending trendline and is showing signs of rejection, suggesting strong buyer interest at this level. Additionally, the Alligator indicator is starting to realign in a bullish formation, supporting potential upward movement.
My entry aligns with the trendline support and structure-based confluence, with a target towards the previous swing high zone, while maintaining a well-defined risk-to-reward ratio.
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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.