Hello everyone,
This is my plan on the USD/CAD currency pair. According to my analysis price have reached a strong weekly support area from which it seems it bounced. My long term views for the pair is to go up, that is why I have divided the area I believe price will cover in to 2 Buy Zones. At the moment the pair is standing in a small range formation, thus forming a square, which is confirmed also by the BB indicator. For this week I believe we can cover at least the first Buy Zone, after which we will probably have a small correction and a new move up in to our second Buy Zone. Since there is good room below the square until the end of the Weekly Support Area, I have added a Sell Zone. If the price drops back to the Sell zone, it can move all the way down to the end of the Weekly Support Area, but we will trade it with caution and small investment. The end of the Buy Zone 2 is our Target 1, where a nice H4 uptrend might stop. In a more long term fashion if that Target 1 level is broken the price upswing might continue all the way up to the Target 2 level. For now we will focus on Buy Zone 1 and Buy Zone 2. As usual I will post signals on our Twitter page with deals made on the M30 time frame. Below you can find the zones in numbers:
Sell Zone: 1.2140 to 1.1960
Buy Zone 1: 1.2230 to 1.2360
Buy Zone 2: 1.2430 to 1.2600
Long term areas:
1. Buy: 1.2635 to 1.2775
2. Buy: 1.2790 to 1.2930
3. Buy: 1.2955 to 1.3200
I wish everyone good luck and profitable trading!
This is my plan on the USD/CAD currency pair. According to my analysis price have reached a strong weekly support area from which it seems it bounced. My long term views for the pair is to go up, that is why I have divided the area I believe price will cover in to 2 Buy Zones. At the moment the pair is standing in a small range formation, thus forming a square, which is confirmed also by the BB indicator. For this week I believe we can cover at least the first Buy Zone, after which we will probably have a small correction and a new move up in to our second Buy Zone. Since there is good room below the square until the end of the Weekly Support Area, I have added a Sell Zone. If the price drops back to the Sell zone, it can move all the way down to the end of the Weekly Support Area, but we will trade it with caution and small investment. The end of the Buy Zone 2 is our Target 1, where a nice H4 uptrend might stop. In a more long term fashion if that Target 1 level is broken the price upswing might continue all the way up to the Target 2 level. For now we will focus on Buy Zone 1 and Buy Zone 2. As usual I will post signals on our Twitter page with deals made on the M30 time frame. Below you can find the zones in numbers:
Sell Zone: 1.2140 to 1.1960
Buy Zone 1: 1.2230 to 1.2360
Buy Zone 2: 1.2430 to 1.2600
Long term areas:
1. Buy: 1.2635 to 1.2775
2. Buy: 1.2790 to 1.2930
3. Buy: 1.2955 to 1.3200
I wish everyone good luck and profitable trading!
Order cancelled
Price covered both our Buy zones and the trading plan gave what we wanted from him. Follow up for more plans :)
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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.
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.