USDCAD, Bullish Potentials
Price reacted to the support structure in the bearish channel with rejections and some bullish momentum.
This gives us a descent trading range to go bullish in the descended structure.
Price could continue to move to the upside once a breakout above the current resistance is confirmed.
Expect some invalidation of the setup, should price continue to move to the downside and break current support levels.
Goal:
- Execution near support zone
- Invalidation 10 pips < Support
- Target at Current Resistance
This gives us a descent trading range to go bullish in the descended structure.
Price could continue to move to the upside once a breakout above the current resistance is confirmed.
Expect some invalidation of the setup, should price continue to move to the downside and break current support levels.
Goal:
- Execution near support zone
- Invalidation 10 pips < Support
- Target at Current Resistance
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