USD/CAD – 1H Chart
Trend: Bullish Reversal in Play
Technical Confluence:
🔹 Harmonic Pattern: AB=CD
🔹 Chart Formation: Falling Wedge
🔹 Momentum Signal: Bullish Divergence Spotted
🚀 A strong confluence of bullish indicators is setting up a potential reversal on USD/CAD. The AB=CD harmonic pattern aligns with a classic falling wedge breakout, supported by visible bullish divergence on the momentum indicators — all pointing to upside potential.
📌 Trade Setup:
🔹 Entry (Buy Stop): 1.37076
🔹 Stop Loss (SL): 1.36309
🔹 Take Profit 1 (TP1): 1.37843
🔹 Take Profit 2 (TP2): 1.38610
🔹 Lot Size: 0.17
🔹 Risk/Reward: 1:1 and 1:2
🔹 Risk: $200 💸
🔹 Reward: Up to $300 💰
📊 This setup offers a clean entry with defined structure, favoring smart risk management. If price confirms the wedge breakout, we could see a sharp move to TP1 and possibly TP2.
⚠️ Always monitor price action around key levels and adjust stop-loss accordingly.
#USDCAD #ForexSetup #BullishReversal #FallingWedge #HarmonicPattern #ABCDPattern #TechnicalAnalysis #1HChart #ForexTrading #TradeSetup #PriceAction #RiskReward #DivergenceSignal #SmartTrading
Trend: Bullish Reversal in Play
Technical Confluence:
🔹 Harmonic Pattern: AB=CD
🔹 Chart Formation: Falling Wedge
🔹 Momentum Signal: Bullish Divergence Spotted
🚀 A strong confluence of bullish indicators is setting up a potential reversal on USD/CAD. The AB=CD harmonic pattern aligns with a classic falling wedge breakout, supported by visible bullish divergence on the momentum indicators — all pointing to upside potential.
📌 Trade Setup:
🔹 Entry (Buy Stop): 1.37076
🔹 Stop Loss (SL): 1.36309
🔹 Take Profit 1 (TP1): 1.37843
🔹 Take Profit 2 (TP2): 1.38610
🔹 Lot Size: 0.17
🔹 Risk/Reward: 1:1 and 1:2
🔹 Risk: $200 💸
🔹 Reward: Up to $300 💰
📊 This setup offers a clean entry with defined structure, favoring smart risk management. If price confirms the wedge breakout, we could see a sharp move to TP1 and possibly TP2.
⚠️ Always monitor price action around key levels and adjust stop-loss accordingly.
#USDCAD #ForexSetup #BullishReversal #FallingWedge #HarmonicPattern #ABCDPattern #TechnicalAnalysis #1HChart #ForexTrading #TradeSetup #PriceAction #RiskReward #DivergenceSignal #SmartTrading
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.