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Buylowsellhigh

Short term bullish play (taking advantage of daily retracement)Support zone validated from the rejections in the past. And breaches of opposing force. There are visible rejections from the recent points and dating back to 7/4/17. The trade has a high probability of working out because of the breach, that engulfed the opposing force. the trade has on obstruction if the price does decide to rally up from the predicted level until 82.20. Still giving the trade a Risk/Reward of 1:3 (standard profit rate)
Long
by AshirDanville
LONG TERM USDCAD SHORT @1.51800Despite all the talk of the Canadian economy in tatters as oil prices tumble, I focus on price and limit my risk. Catastrophic events happen causing erratic behaviour in the markets. But all things being equal, the charts are telling me there is a good chance that USDCAD will fall from 1.51800. Again, low risk, high potential reward is what I look for. I make sure I limit the things I can control. I cannot control oil prices, or Canadian economics. I control my trading account. This is a nice area for a short position high up on the curve. Price is struggling to get through orders in a poor zone. This suggests that the buying power might not carry much strength going into 1.51800. The mass of sell orders might overwhelm buyers. Entry: 1.51800 Stop: 1.53800 (200 pips, yikes! Trade carefully. Small positions and then build up) Reward: Straight away, I am looking at 1.40000 and then 1.34000 (so 200 pips isn't that much risk really)
Short
by selfrighteousgambler