USDCAD Long
Setup Timeframe: D
Execution Timframe: D
Risk: 3%
Reward: 13%
Reasons for Entry: Daily candle close showed bullish rejection of 50 fib and 50 EMA on the daily, but not quite yet at the bullish TL. Also, shows rejection of a demand zone on the daily chart.
Reasons for SL placement: Below the 61.8 fib zone, and below the demand zone.
Reasons for TP placement: At the -0.27 fib extension level.
Execution Timframe: D
Risk: 3%
Reward: 13%
Reasons for Entry: Daily candle close showed bullish rejection of 50 fib and 50 EMA on the daily, but not quite yet at the bullish TL. Also, shows rejection of a demand zone on the daily chart.
Reasons for SL placement: Below the 61.8 fib zone, and below the demand zone.
Reasons for TP placement: At the -0.27 fib extension level.
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