Hello traders today I have on my radar a swing trade on USDCAD.
A cypher is near completion. The completion point and the reversal zone is near the upper trendline of a daily channel. I'm planning to wait for a reversal sign near completion before taking the trade.
But for the target I'm planning to swing all the way to the support just up to the downside trendline. I can have a R:R of 2 for this type of trade. I'm not planning to take multiple target but move the stop to Break even if the price goes below 38,2% CD.