**S W I P E right**Happy Sunday Traders! Sunday is the day that I use to prepare my pairs for the upcoming week. And like last week I also have a nice setup for you. But this time it is more special because all the credit goes to one of our most dedicated students :John a.k.a. "Tradewithpappasloth" @tradewithpappasloth .
John has been working with us since the 20th of July as has never stopped working hard ever since. His progress, journey, results, and view on the market make me very proud. And after seeing his USD/CAD setup I just had to feature it here today.
Now let's hop on the chart, where firstly we see a clear ascending channel on USD/CAD. With the recent weaking of the dollar we might see a potential break of the channel mentioned above.Once this channel confirms a solid break below (this can happen at the beginning but also later in the week) the ascending trendline we will look to short/sell from there.
The other option for this pair is that it keeps respecting the channel and moves upwards the the top and resistance zone of the channel. Either way be sure to see how the market develops and candles close next week, and then determine your direction and if you will trade that move.
Good luck next week!
And don't forget this is only my(our) view on this pair,not a signal. Always stick to your own trading plan and risk management!