USDCAD Position trade LONG for SEP/OCT IDEA 1Hello all.
A rare UC trade idea from me.
I see a position traded unfolding.
Note the yellow box. that is my buy zone.
2 entries that I am willing to take.
For all position trades, only trade up to your normal risk per trade. NOTHING MORE. Losses can be largely magnified. Especially with the bigger stop loss.
E.G Entry1 has a SL of 150 pips. Entry2 has a SL of 90+ Pips. any larger position size could be devastating for your equity curve.
Thus, I will be taking half of my normal risk per trade. I am alright with missing out. there will be opportunities to scale-in in future.
Note the TP levels.
900+ pips for Trade1. that is the final target. Price may not get there. Scaling-out IS ESSENTIAL. Do not expect the entire position to hit that level.
IF price stops us out, I will be looking for signs of a reentry. that will be my position trade 2 for UC.
Safe Trading, Happy trading
Plan your risk and trade position sizes accordingly.
This is not trade advice, just an opinion on the markets.
Trading can lead to excessive losses and complete loss of one's equity if not managed properly.
