Good day traders! A trading idea for the USD / CAD pair.
Last Friday, a rebound from the level of 1.33 occurred, indicating a clear monthly support level for the bulls, behind which they can safely hide their risks.
Find these stops as follows:
1-hour TF:
Work for the completion of the large ABC wave pattern (which started on July 20), aiming for an update of the monthly bulls' area below 1.33.
Profitability of about 1 to 1 will come, when the price reaches 50% Fibonacci.
Selling will be relevant until wave "A" breaks above the level of 1.36.
Such a trading idea is developed, on the grounds of Price Action and Stop Hunting strategies.
Good luck!