empty
 
 
17.07.2020 08:47 AM
Trading idea for the USD/CAD pair

This image is no longer relevant

Good afternoon traders! Here is a new trading plan for the USD/CAD pair.

Yesterday, the plan was to work out wave "A" that was formed on July 14 and 15. It led to a 50% pullback, which creates good conditions and profitability for shorting the quote to a new low after the level of 1.34900:

This image is no longer relevant

It is clear that the buy stop orders are at the level of 1.34900. Therefore, work on its breakdown, after which hold part of the position at 161.8% Fibonacci.

Cancel the short scenario if the quote breaks out of the level 1.36400.

This trading idea is based on the Price Action and Stop Hunting strategies.

Have a successful trading and always remember to control the risks!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback