USDCAD LONG
Why are we entering?
- Expecting CAD weakness & USD strength
- We are forming wave 3 subwave 5, microwave 1
- We are expecting price to reject our 0.618 fibonacci and wave 4invalidation zone
What is our confirmation?
- Rejection from our buy zone
- Break of WFB
Entry
- Safe Entry: Rejection of our buy zone with a break of our WFB
- Risk Entry: Rejection of our buy zone
- Risk Entry: Early break of descending WFB
Once entered, where will our Stoploss be?
- 30 pips below our 0.618 fibonacci: below 1.317
- Move SL to BE after running 30 pips
Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
- First TP - Previous high: 1.398 (780pips)
- Second TP - -0.27 fibonacci level: 1.425 (1050pips)
- Final TP - -0.618 fibonacci level: 1.46 (1400pips)
Why are we entering?
- Expecting CAD weakness & USD strength
- We are forming wave 3 subwave 5, microwave 1
- We are expecting price to reject our 0.618 fibonacci and wave 4invalidation zone
What is our confirmation?
- Rejection from our buy zone
- Break of WFB
Entry
- Safe Entry: Rejection of our buy zone with a break of our WFB
- Risk Entry: Rejection of our buy zone
- Risk Entry: Early break of descending WFB
Once entered, where will our Stoploss be?
- 30 pips below our 0.618 fibonacci: below 1.317
- Move SL to BE after running 30 pips
Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
- First TP - Previous high: 1.398 (780pips)
- Second TP - -0.27 fibonacci level: 1.425 (1050pips)
- Final TP - -0.618 fibonacci level: 1.46 (1400pips)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want more chart ups like this? Click the links below:
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.