USDCAD BULLISH FOR 100PIPS
. Entry Point:
Current Price: Check the current price of USDCAD. A good entry would typically be on a pullback or a confirmation of bullish momentum.
Technical Analysis: Identify a support level or a technical signal (e.g., price action, moving average crossover, or bullish candlestick patterns) to enter the trade.
2. Target (100 Pips Bullish):
If you're aiming for a 100-pip gain, the target price would be set 100 pips above your entry point. For example, if your entry is at 1.3450, your target would be 1.3550.
Use resistance levels or previous highs to validate that your target aligns with realistic price movement within the given timeframe.
3. Stop Loss (30 Pips):
Set the stop loss 30 pips below your entry. If your entry is 1.3450, the stop loss would be at 1.3420.
Ensure that the stop loss is placed below a key support level to avoid being prematurely stopped out due to market fluctuations.
Current Price: Check the current price of USDCAD. A good entry would typically be on a pullback or a confirmation of bullish momentum.
Technical Analysis: Identify a support level or a technical signal (e.g., price action, moving average crossover, or bullish candlestick patterns) to enter the trade.
2. Target (100 Pips Bullish):
If you're aiming for a 100-pip gain, the target price would be set 100 pips above your entry point. For example, if your entry is at 1.3450, your target would be 1.3550.
Use resistance levels or previous highs to validate that your target aligns with realistic price movement within the given timeframe.
3. Stop Loss (30 Pips):
Set the stop loss 30 pips below your entry. If your entry is 1.3450, the stop loss would be at 1.3420.
Ensure that the stop loss is placed below a key support level to avoid being prematurely stopped out due to market fluctuations.
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