Price is bouncing of a minor support zone. CAD remains one of the weakest currencies out there so this could provide a nice long trade opportunity with a tight stop just under today's bar.
CAD weakened further today. I anticipate further upside in this pair. However, if I see price action failing at 1.86 level, I'd take my trade off the table or at the very least, move the stop to break-even.
I'd enter the trade with a limit order to get a better Reward to Risk ration. Hopefully, price retraces a little and fills my order.
CAD weakened further today. I anticipate further upside in this pair. However, if I see price action failing at 1.86 level, I'd take my trade off the table or at the very least, move the stop to break-even.
I'd enter the trade with a limit order to get a better Reward to Risk ration. Hopefully, price retraces a little and fills my order.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.