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Usdcadbuy

USDCAD | Perspective for the new weekMy last speculation saw the price move over 150pips in our direction before the bulls took over ( see link below for reference purposes). Since breaking above the $1.25000 level in July 2021, I am labelling this level to be a very strong demand zone for the Greenback considering that the obvious that it has held price "supported' in the last couple of months. Since the value of the Loonie is directly connected to the oil situation. It is important to take into consideration that oil inventories are currently down from what they used to be prior to the Covid-19 pandemic. Coupled with the Hurricane Ida situation, there is more supply than demand which could have a negative impact on the Loonie in the coming week(s). Tendency: Uptrend (Bullish) Structure: Supply & Demand | Trendline Observation: i. Since hitting a peak @ $1.29500 on the 20th of August 2021, the price of USD have tumbled drastically and it is finally at our Demand zone. ii. The visual representation of a line drawn under pivot lows reveals the prevailing direction of price since June 2021. However, a sudden Breakdown of this Trendline (whatever way you draw your line) during last week trading session cast some doubt on the Bullish tendency on this pair. iii. At this juncture it is indeed appropriate that we remain patient and observe how price reacts to the Major Demand zone @ $1.25000/1.24200 area for confirmations. iv. To support my Bullish expectation on this pair, I shall be looking for rejections or engulfing candles off of the Key level @ $1.25000 (above key level - safe haven) in the coming week(s). v. Should price drop below Key level, then this will make the Breakdown of Bullish Trendline valid. Hence, a retest shall give me no choice but to switch bias in support of the Bears... Trade consciously!😊 Trading plan: BUY confirmation with a minimum potential profit of 250 pips. Risk/Reward : 1:4 Potential Duration: 3 to 7days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
Lets finish the day with another USDCAD trade 👊🤩This pair is not done for the day yet! Only shared the last long trade only few hours back, go check my profile for that idea. Now it's time for another long and this strategy is looking to go five out five trades hitting TP. Trade details are shown on the chart along with the previous four trades. Three out four of those trades were shared as ideas too. Come on guys surely that deserves some love. We are working the 30M time frame on this strategy. We're looking for the green line which is take profit target. Little blue arrow is entry point and purple line is stop loss. Trade history can be seen at the foot of this trade idea too for full transparency. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren
Long
by pow_removetheguesswork
USDCAD LongAs we can saw, USDCAD declined on Friday following the Fed Chair speech. Support is seen near the 200-day moving average at 1.2545. We expecting the pair to re-test the support level 1.25533 or the major support level 1.264956 before a bullish continuation. We taking this trade based on technical analysis and price action. (1) DO NOT ENTER ANY TRADE BEFORE THE ENTRY LEVEL (2) USE YOUR STOP LOSS (3) DO NOT HOLD A LOSS FOR MORE THAN 2 DAYS Please use proper risk management depending on your account size, Use lot sizes based on these calculations. Here is a break down of your pip value in ZAR and Dollars 0, 01 = R1,43 / $0,10c 0. 05 = R 7,15 / $ 0.50 0.10 = R 14,3 / $1.00 1 Lot size = R 146,26 How to calculate Margin = (Lot Size * Contract Size)/Leverage, Lets say your broker gives you 1:500, and you open 0,2 size, How much are you exposing ? calculations : (0.2 * 10 000) / 500 = $4 (R58) also (1 Lot * 100 000) / 500 = $200 (R2 960) So, each time I open (1 Lot size, am exposing R2960 (Down payment) Remember, These are long term trades, It is advisable to have enough margin to handle the fluctuation of the markets. Please like and share for more useful content:
Long
by Pro-Trading-Africa
LONG USDCADLONG USDCAD @ 1.2595 TP @ 1.28 SL @ 1.25 USDCAD testing the upward trend line and fibbo support around 1.2588. I have therefore bought some around that lvl as I expect it to rip from here. We have the Jackson Hole meeting on Friday where I feel that the it will either be neutral or bullish for the USD. I don't expect a dovish meeting. So therefore its best to go into this scenario with a bit of risk so that if USD rallies, we are already in the trade however if its neutral, we have some more time to re think and assess what we want to do. This trade offers over 2:1 R/R Good luck!
Long
by WhosPipsAreTheseAnyway
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