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USDCAD trade ideas

Tips for Managing EntriesGetting your entries right is a big step forward on the path to successful trading. In this post, we’re going over three techniques to potentially improve your entry point and, by extension, hopefully get in trades at more favorable price levels that could ultimately increase your profit per trade. 1. Planning For Breakouts (Or Breakdowns) Use pullbacks and breakouts to enter at the beginning or end of a trend. Draw out your desired levels, write them down, and get prepared for the exact entry that you see on the chart. Breakouts occur when a market trades through support or resistance levels, signaling a start to a new trend. However, be cautious of fake-outs, and remember to use stops to manage risk. Preparing for breakouts, and clearly marking them on your chart, can help you optimize entries. On the chart above, we show the USDCAD pair and an example of a trading range that, if broken through, could signal the start of a breakout. Where would you plan your entry if that happens? This is the type of education we hope to provide. 2. Confirmed Entries Across Multiple Timeframes Confirm trends by using additional timeframes. For example, if you spot a pullback on a four-hour chart, check a daily chart to confirm the broader trend. Alternatively, you could zoom in even more, for example, on a ten-minute chart, to see short-term buyer or sellers and where the ideal entry might be, as the price nears your desired level. Using multiple timeframes can help you see the bigger picture, as well as the finer details. This can ensure you’re aligned with both the macro and micro trends. 3. Taking a Broader View Understand the broader market conditions, including major trends and fundamental factors like economic releases. This holistic approach tells you a few important details about the market, and if it’s moving in the same direction as your trade, or if there’s major news coming that could potentially spur volatility. We hope these three helpful tips will be valuable on your trading journey, specifically showing you some ways of looking for the best possible entries for your positions. Thank you for reading our latest educational post about becoming a swing trader! Be sure to follow us for more updates and educational resources like this. MB
by FOREXcom
USDCAD Prepare for red October - November.The USDCAD pair hit both of our Targets on the July 25 (see chart below) sell signal: The initial rebound stopped on the 1D MA50 (blue trend-line) where the price was rejected with the 1D RSI forming a pattern similar to May 2023. As a result, it is possible to see another short-term rebound but on the medium-term, we expect October and November to be another sell sequence. The March - July 2023 fractal had two similar Bearish Legs of -4.10% each. So since the current first Leg was -3.64%, we expect the one that will follow now to be of around the same strength. As a result we can target 1.32000 on low risk, just above the Support 1 level. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
USDCAD Buy ForecastUSDCAD New forecast👨‍💻👨‍💻 Note: Follow proper risk management rules. Never risk more then 2% of your total capital. Money management is the key of success in this business...... Set your own SL & TP. Please support this idea with a Like and COMMENT if you find it useful click "follow" on our profile if you will like these type of trading ideas delivered straight to your email in the future. Thanks for your continued support!! lemme know your thoughts in the comment sec...
Long
by King_CityStar_Fx
Heading into 38.2% Fibonacci resistance?USD/CAD is rising towards the pivot which has been identified as a pullback resistance and could reverse to the pullback support. Pivot: 1.3502 1st Support: 1.3423 1st Resistance: 1.3549 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
1
USDCAD H4 I Bullish Bounce Based on the H4 chart analysis, we can see that the price has just bounced off our buy entry at 1.3483 which is a pullback support. Our take profit will be at 1.3543, which is an overlap resistance close to 50% Fibonacci retracement. The stop loss will be placed at 1.3421, a swing-low support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
1