Trading USDCAD in the channel

FX:USDCAD   U.S. Dollar / Canadian Dollar
34 0 0
Technical picture
As price stays in channel currently, it would be good idea to go long in area 1.1985-1.1942 as that is local support area that was tested recently two times, also that is PWL and 38% fibo level of the last big swing. And alternatively on the M chart is clearly seen that price rebounded from resistance area and heading down, so I'll put in sell stop just below s/l of the limit buy order.
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