USD/CAD Buy Signal: Enter at Strong Support for Potential Gains
We look to Buy at 1.36.
This setup is based on the strong support at 1.36 and confirmation through a break above 1.365, indicating bullish momentum.
Risk/Reward would be poor to call a buy from current levels without further confirmation.
The measured move target is 1.369, which aligns with the 38.2% Fibonacci retracement level, often acting as a resistance point in corrective moves.
This setup is based on the strong support at 1.36 and confirmation through a break above 1.365, indicating bullish momentum.
Risk/Reward would be poor to call a buy from current levels without further confirmation.
The measured move target is 1.369, which aligns with the 38.2% Fibonacci retracement level, often acting as a resistance point in corrective moves.
Trade closed: target reached:
Closing at 20 pips priced highest at 1.36215
Taking profits early.
New week start.
Taking profits early.
New week start.
Trade active:
Our trade on this pair earlier was an easy 30 pips ( on minds)
We are looking to buy USD/CAD at 1.362. Recent speeches from Fed members have strengthened the USD, and market sentiment shows a significant number of traders are long on this pair.
Price is approaching our entry zone, which is a pivot support level. Both our stop loss (SL) and take profit (TP) are set at pivotal levels on the chart. The SL is placed at 1.3561, and the TP is at 1.3671.
Entry: 1.3615-1.362
Stop Loss: 1.3561 (Pivot Support)
Take Profit: 1.3671 (Pivot Resistance)
By following this plan, we aim to capitalize on the USD's recent strength and the market sentiment favoring long positions on this pair. This setup offers a clear strategy with defined risk and reward parameters, aligning with the current market conditions and technical indicators.
We are looking to buy USD/CAD at 1.362. Recent speeches from Fed members have strengthened the USD, and market sentiment shows a significant number of traders are long on this pair.
Price is approaching our entry zone, which is a pivot support level. Both our stop loss (SL) and take profit (TP) are set at pivotal levels on the chart. The SL is placed at 1.3561, and the TP is at 1.3671.
Entry: 1.3615-1.362
Stop Loss: 1.3561 (Pivot Support)
Take Profit: 1.3671 (Pivot Resistance)
By following this plan, we aim to capitalize on the USD's recent strength and the market sentiment favoring long positions on this pair. This setup offers a clear strategy with defined risk and reward parameters, aligning with the current market conditions and technical indicators.
Trade closed: target reached:
Huge 50 pips profits new entry below.
Trade active:
New trade
We are planning to enter a long position on USD/CAD at 1.3664, which aligns with the 61.8% Fibonacci retracement level.
Detailed Analysis:
- Price action appears to be forming a bottom, suggesting a potential reversal. The short-term RSI is moving higher, indicating increasing bullish momentum.
- Entry: 1.3664 (61.8% Fibonacci retracement level)
- Stop Loss: 1.3640 (placed below recent lows to manage risk)
- Take Profit: 1.3690 (targeting a key resistance level)
- The trend of higher lows is located at 1.359, indicating an underlying bullish trend.
- We anticipate further upside, with a move through 1.37 confirming bullish momentum.
By following this plan, we aim to capitalize on the developing bullish trend while managing risk effectively with well-defined stop loss and take profit levels.
We are planning to enter a long position on USD/CAD at 1.3664, which aligns with the 61.8% Fibonacci retracement level.
Detailed Analysis:
- Price action appears to be forming a bottom, suggesting a potential reversal. The short-term RSI is moving higher, indicating increasing bullish momentum.
- Entry: 1.3664 (61.8% Fibonacci retracement level)
- Stop Loss: 1.3640 (placed below recent lows to manage risk)
- Take Profit: 1.3690 (targeting a key resistance level)
- The trend of higher lows is located at 1.359, indicating an underlying bullish trend.
- We anticipate further upside, with a move through 1.37 confirming bullish momentum.
By following this plan, we aim to capitalize on the developing bullish trend while managing risk effectively with well-defined stop loss and take profit levels.
Trade closed: target reached:
This pair went to the moon!! Let's end this post brand new analysis tonight
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