NZDCAD DAILY LONG TRADE SETUP

Price action has been making higher highs and higher lows indicating an upward trend. Notice Swing Level. A swing level is similar to a support level where price has actually come back and tested it as support. When price action rejects this swing level it indicates a probability price action will continue higher so this is a very good place to consider a long trade setup. Notice the red candle tested the swing level and started to bounce off it as noted by the lower shadow. Further notice the last candle also bounced off the swing level, moved higher forming a green candle closing above its midpoint indicating buyers are coming back into the market. I have setup my stop loss and take profit target for a nice 2:1 reward to risk ratio.