USDCAD 325pip LONG

20 oct. 2021

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

30 oct. 2021

Transaction en cours

Trade active, we are monitoring trade as the price is approaching the structure line and we are looking for a break!