Possible trade setup on the USDCAD pair. Longer term up trend followed by a retracement down to the 1.06 area. Now we have a trend change on the Daily chart back in the direction of the longer term trend. Will buy a dip down at the big figure, 38% Fib, Weekly Pivot, and Daily Support level.
20 pip stop and a 100 pip profit target.
Possible trade setup on the USDCAD pair. Longer term up trend followed by a retracement down to the 1.06 area. Now we have a trend change on the Daily chart back in the direction of the longer term trend. Will buy a dip down to the big figure, 38% Fib, Weekly Pivot, and Daily Support level.
30 pip stop and a 120 pip profit target.
Entered short here
AB=CD price continuation pattern unfolding on the 4hr chart
Weekly trend is down and price just recently pulled back to resistance.
Feel like we will see a push down from here to the 1.3470ish area
30 pip stop with a 130 pip profit target.
Planning to initiate long position on this pair between the 38% and 50% retracement area. This price area is HTF support and the trade direction is also in line with the fundamental. Essentially buying a dip in the up trend!!!!
My stop will be 30pips and my take profit will be 100pips
