USDCAD H4 CHART

USDCAD Trade Set Up October 18th

We are looking for a short trade opportunity on USDCAD pair.

The current level of USDCAD is 1.25110.

We see that price is below MA50 and inside the KUMO cloud. We see a bearish signal. 1.26000 works as a strong resistance for USDCAD.

We will enter a short trade with the breakout of rising trend line of the symmetric triangle. Please wait for the hourly closing below the trend line and enter the SHORT trade.

We will keep you updated as long as the pattern is completed.

Our target will be 1.24500 and 1.23600.

UPDATE:

TRADE TRIGGERED WITH U.S DATA. YOU CAN ENTER SHORT FROM CURRENT LEVEL OR WAIT FOR THE HOURLY CLOSINGS BELOW THE TREND LINE.

TRADE: SHORT

ENTRY: 1.25050

TP1: 1.24500

TP2: 1.24000

TP3: 1.23600

UPDATE: HITS TP1. PROFIT SO FAR 55 PIPS. CLOSE 30% OF THE POSITIONS MOVE STOP LOSS TO ENTRY AND WAIT FOR THE NEXT TARGET.

 

 

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Warning: All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases.

If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.

WARNING ABOUT TRADE IDEAS

  1. We enter trades on different pairs and we look for other trade opportunities. So we recommend you to enter trades with the smaller size.
  2. Do not exceed 10% margin.
  3. Stop Loss and Take Profit Levels are +/- 15 pips minimum.
  4. If we do not publish an update close the 40% of your position on the TP1 level and move your stop loss to entry level.
  5. Some trades ( especially with 300-500 pips profit target) can take 5-6 days to hit the targets. If you do not have patience, do not enter the trade.
  6. Our aim is to close each with week 2500-3000 pips profit minimum.
  7. If we mention as “pullbacks are buying/selling “ opportunities and we publish pullback levels, you do not need to wait for a signal from us. Use these opportunities at the mentioned levels.
  8. All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases. If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.

 

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