USDCAD: High-RR Bullish Reversal at Daily Support (1:20 RR)U.S. Dollar / Canadian DollarFOREXCOM:USDCADsco_solomon📌 Trade Overview We have a highly confluent bullish setup forming on USDCAD as price taps into a major daily support zone. The lower timeframes are showing clear signs of institutional buying and a shift in market structure. I am looking for a discount entry on a retracement to catch the next major impulse leg up. 🔍 Technical Confluences Higher Timeframe Bias (Daily): Price has mitigated and tapped directly into a key Daily Support Zone, showing initial buying pressure. 2-Hour Timeframe: We received a clean wick rejection, indicating that sellers are losing momentum and liquidity has been swept. 1-Hour Timeframe (Structural Shift): A clear Change of Character (CHoCH) has occurred, confirming a shift from a bearish to a bullish market structure. A strong 1-Hour Bullish Engulfing candle has closed, confirming buyer dominance. 🎯 Entry Strategy & Execution I am not chasing the price here. Instead, I am waiting for a healthy pullback to get the best possible risk-to-reward ratio. Entry Zone: Around the 50% Fibonacci Retracement level at 1.40351. Trigger: Looking for a 1-Hour bullish confirmation candle (like a hammer or another engulfing candle) inside the entry zone before executing. Target: Full Take Profit (TP) yields an incredible 1:20 Risk-to-Reward (RR) ratio if the bullish momentum holds. ⚠️ Risk Disclaimer & Management Invalidation: The setup is invalidated if price closes firmly below our local structure/HTF support. Always manage your risk and size appropriately for high-RR setups! 💬 What do you think? Do you see USDCAD heading higher from this daily support, or do you think the bears will break through? Drop your thoughts, targets, or charts in the comments below! If you find this analysis helpful, please hit the 👍 Like button and Follow for more high-quality setups!