USDCAD - Bullish Bat at H4 channel

Hi traders, just sharing one of the pair I will be monitoring very closely for this week.

I see a potential bullish bat on USDCAD.

This is gonna be a great setup because of the following reasons.

1. Aligned with uptrend
2. Entry price is very close to extreme of parallel channel
3. Aligns with previous resistance turn support area

How I will execute this trade

1. Wait for price to hit 1.33
2. Wait for a rejection of the PRZ between 1.3290 to 1.33
3. Enter trade if bullish divergence is present in RSI

Strongly encourage not to use a pending order

Comment:

Download my game plan for week 46 with video attached.

www.harmonicforex.co...-report/week46report

Comment:

It is almost here, I have to see some rejection of the PRZ at the H4 timeframe before entry. Finally close to execution after a 2 weeks wait.

Comment:

The spillover of the PRZ was completed last week.

Next step is to wait for the price to close above the yellow zone on the h4 chart and we have a long entry.

If price continues to drift lower and break new low next week, I will be shorting on pullbacks.

Comment:

Price has bounced off the PRZ.

Have executed my buy limit to go long, which is a queue to buy at 1.33.

EP 1.33
SL 1.3240
TP 1.3580

Trade closed: stop reached:

Got stopped out yesterday with a loss of 60 pips. Now I am looking to trade bearish setups on this pair.