USDCAD: Correction over, buy before NFP.
It seems that USDCAD has hit rock bottom, reaching a strong support level showing buyers have emerged at this level.
The fundamental landscape has been very negative for the US dollar but I think this time the unexpected will happen and we will see a rally.
Buying after this bar closes, as long as above the blue line is a good idea, but we can also attempt to buy a minor retracement, if any, or market buy now and scale in on a retracement.
Stop loss should be below the blue line, with some wiggle room based on ATR.
Good luck!
Ivan.
The fundamental landscape has been very negative for the US dollar but I think this time the unexpected will happen and we will see a rally.
Buying after this bar closes, as long as above the blue line is a good idea, but we can also attempt to buy a minor retracement, if any, or market buy now and scale in on a retracement.
Stop loss should be below the blue line, with some wiggle room based on ATR.
Good luck!
Ivan.
Trade fermée: ordre d’arrêt atteint
Target wasn't hit but the trade was profitable.
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🔒Want to dive deeper? Check out my paid services below🔒
ivanlabrie.substack.com/
ivanlabrie.substack.com/
Publications connexes
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.