USDCAD 325pip LONG
Updated
Hello Traders,
Here we have a
USDCAD long trade idea. If you like this idea please show your support!
This trade idea is based off the fact of the USD reaching a weekly low and we can see some resistance beginning to occur. Also the Canadian Dollar is reaching its peak combined with oil prices maxing out. This has given us a lovely zone of interest for a entry on this pair.
We have 2 zones of interest as we do not want to miss this entry however if we continue to see a weaker US Dollar scenario A will most likely play out
This trade has 2 TP zones
Take Profit 1 : 165 pips
Take Profit 2 : 325 pips
Stop Loss : 30 pips
Overall RISK:REWARD : 10.83
Wondering why CAD and OIL have such a similar reaction? Check out my post on correlation below
Here we have a
USDCAD long trade idea. If you like this idea please show your support!This trade idea is based off the fact of the USD reaching a weekly low and we can see some resistance beginning to occur. Also the Canadian Dollar is reaching its peak combined with oil prices maxing out. This has given us a lovely zone of interest for a entry on this pair.
We have 2 zones of interest as we do not want to miss this entry however if we continue to see a weaker US Dollar scenario A will most likely play out
This trade has 2 TP zones
Take Profit 1 : 165 pips
Take Profit 2 : 325 pips
Stop Loss : 30 pips
Overall RISK:REWARD : 10.83
Wondering why CAD and OIL have such a similar reaction? Check out my post on correlation below
Trade active
Trade active, we are monitoring trade as the price is approaching the structure line and we are looking for a break!
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