SmartTradingZone

USD/CAD Is This Cup And Handle Valid

Long
FX:USDCAD   US-Dollar / Kanadischer Dollar
Hello fellow traders,

As you can see on a weekly time frame we can see a huge cup and handle formed. Is it showing that we will see the rising in the next months up to a year?

I would say yes.

After 6 years of down trend we started forming this huge cup and handle, and on a long term I think we are headed for retest of the highest highs.

As you can see on my chart, just to make clear, we did make a double top, ofcourse there is a high probability of touching the support. But after that I see USD/CAD climbing up from there. Please keep in mind, that like my previous analysis I am talking very long term here.
Once we break the double top level I will go long on this pair.

Managing my risk really changed my trading. I do like to swing trade mostly and that is why i usually post just my long term insight and how I see things on that level.
Looking for entries and outs and specific trade plan ofcourse go to lower frames, but keep this just as an idea and long term perspective.

I really appreciate every follow, comment and like, it really gives sense to posting my ideas.

Thank you very much, and wish you all smart and profitable trades.

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