I am watching a potential swing trading setting up on the eurcad currency pair. The daily chart below shows the current pullback that is underway after the up move that took the pair above the down trendline. I would like to see a retest of the 1.2800 area in order to position long at the right shoulder of the inverse head and shoulders formation. My trading strategy will be to wait for the retest of the area specified. Next, I will wait for a bullish engulfing candle to form. I will buy, with a stop loss below 1.2650. For profit-taking, I will be targeting three levels: 1.3050, 1.3200, and finally at 1.3250. Read more »