USDCAD range-bound market to PICK A SIDE
USDCAD has been travelling in the range 1 between 1.350 to 1.368
Key things to take note for your trade planning:
- SUPPORT from previous opening gap on 8 March 2020, we can see that it formed as support for the range-bound market 3 June 2020, 23 June 2020, 9 July 2020 and today.
- Wait for a clean breakout before enter the market, either hammer/engulfing to enter long or clean breakout to range 2 to go short.
- With tight stoploss this can have a very good RR.
Key things to take note for your trade planning:
- SUPPORT from previous opening gap on 8 March 2020, we can see that it formed as support for the range-bound market 3 June 2020, 23 June 2020, 9 July 2020 and today.
- Wait for a clean breakout before enter the market, either hammer/engulfing to enter long or clean breakout to range 2 to go short.
- With tight stoploss this can have a very good RR.
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