Dollar A.S. / Dollar KanadaDiupdate USDCAD 30M | Range Between Resistance and Support – Breakout Pen
USDCAD is trading inside a clear range on the 30-minute timeframe. Price is respecting the support and resistance levels marked on the chart.
Resistance levels:
1.37435
1.37732
Support levels:
1.37208
1.36914
Current price is trading near 1.37300, sitting between the first resistance and first support.
Bullish Scenario
If price breaks above 1.37435 and a 30M candle closes above it, I expect continuation up to the next resistance at 1.37732.
Entry: Above 1.37435 after confirmation
Target: 1.37732
Invalidation: Below 1.37208
Bearish Scenario
If price breaks below 1.37208 and a 30M candle closes below it, I expect a drop down to the next support at 1.36914.
Entry: Below 1.37208 after confirmation
Target: 1.36914
Invalidation: Above 1.37435
Key Levels
Resistance: 1.37435 / 1.37732
Support: 1.37208 / 1.36914
Pro Tips from a real trader
Tip 1: This is a 30-minute timeframe. Tighter stops and smaller targets. Do not use the same risk as a 1H or 4H trade.
Tip 2: Never enter at the exact level. Wait for a full 30M candle close above resistance or below support.
Tip 3: If you miss the breakout, wait for a pullback. For longs, let price retest the broken resistance as support. For shorts, let price retest the broken support as resistance.
Tip 4: USDCAD moves with oil prices. When oil goes up, USDCAD usually goes down. Check crude oil before trading.
Tip 5: Keep your stop loss tight but reasonable. The 30M chart can be noisy.
My personal view
Price is squeezed between 1.37435 resistance and 1.37208 support. This is a very tight range. A breakout in either direction could trigger a quick move. I am waiting for a clean 30M candle close above resistance for longs or below support for shorts. No close = no trade.
Not financial advice. Trade at your own risk.
Tags: USDCAD, Forex, 30Minute, Breakout, PriceAction, TradingView, SupportAndResistance
Trading ditutup: target tercapai
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.