USDCAD Long opportunity ahead.
USDCAD is stuck between the 1.2670-1.2900 range from quite sometime. It has tried to rally above 1.2900 thrice but failed on each attempt. Now it is going for a test of lows at 1.2670. That level held the downwards movement twice and is likely to do so again due to the uncertainty over NAFTA and also due to a bit bearish stance by the B.O.C. I will place a long order at 1.2680 with a stop at 1.2610 and my take profit will be 1.2880. very good risk-reward ratio on this trade as we are risking just 70 pips for a profit of 200 pips.
Transaction en cours
Long order got filled at 1.2680. Trade in progressSL: 1.2610
Tp: 1.2880
Note
stop loss got hit at 1.2610. It is consolidating in this area. So I will look for opportunity to enter long again with a tight stop if this consolidation continues and I see some bullish indications
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.