USDCAD - Long - Daily Chart - 3 : 1 Win vs Risk
Updated
Hello all - DuncanForex with another trade idea
With USD gaining strength - I am looking to go long on USDCAD
I missed the 4hour bullish engulfing this afternoon therefore I am entering on the daily chart - with also a buy limit set at the 50% retrace point so if that triggers I will have a larger lot size
I am looking for 2 targets - first arrow is the downward trend line that may act as resistance.
The second is a major swing low area and further area of resistance
Lets see how this plays out.
I can see USD being strong until the FOMC rate on the 31st July and then I think USD is going to weaken dramatically and the overall trends will resume of USD being weak
Thanks for looking Duncan
With USD gaining strength - I am looking to go long on USDCAD
I missed the 4hour bullish engulfing this afternoon therefore I am entering on the daily chart - with also a buy limit set at the 50% retrace point so if that triggers I will have a larger lot size
I am looking for 2 targets - first arrow is the downward trend line that may act as resistance.
The second is a major swing low area and further area of resistance
Lets see how this plays out.
I can see USD being strong until the FOMC rate on the 31st July and then I think USD is going to weaken dramatically and the overall trends will resume of USD being weak
Thanks for looking Duncan
Trade active
Trades active albeit in drawdown - will let it play out as USD weaker sooner than expected. Offset with GOLD flying this afternoon.Trade active
Trades live and going well - TP 1 in sight
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