Potential Long Position for USD/CAD_Trade Plan 2017.08.04

Panjang

Dolar A.S. / Dolar Kanada (OANDA:USDCAD)

OANDA:USDCAD Dolar A.S. / Dolar Kanada

trendanalysis chartpattern usdcad long tradeplan daytrade reversal

Legend for price level, trend line, and rectangle:
Dark Gray > Weekly Level
Blue > Daily Level
Red > H4 / H1 Level
Green > M15 / M5 Level
Yellow > M1 Level

D1 and H4 are both showing the overall trend is still down with price hold below MA200.
Currently in H1, for the last 2 days, price shows some momentum to the upside after succeeded breaks up confluences of resistance area around 1.25301 - 1.25452 (Price Structure, MA200, Major Down Trendline).

Trade Plan:
If price pull back to this area, re-test it, and rejectd up, long the market to follow the potential of trend reversal to the upside.
With Stop Loss 30 pips and Target Profit 100 pips, the potential trade offers 3.33 Reward-to-Risk Ratio.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.