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Norwegiantrading

USDCAD BREAKING OUT OF DESCENDING CHANNEL!

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
Norwegiantrading  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Support and Resistance Trend Lines Parallel Channel USDCAD Descending Channel breakout
3
0
supportandresistance trendline parallelchannel usdcad descendingchannel breakout
Price broke out of a 2-month long descending channel 2 days ago. Now the price has reversed down and tested a small support area, and have resumed upwards. This could possibly show a trend reversal.

I am currently holding this pair, and aiming for 1.35400. Stop loss is placed below the wick of the last candle (1.31100).
If you want a safer and quicker trade, go for TP1 level. TP1 level has the risk to reward ratio (2/1))

If you like this idea please leave a like! :D

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