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USD/CAD Potential Upward Movement

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.27620, 1.28083, 1.28953.

Key Support Levels: 1.26039, 1.25903, 1.24966.

Daily Time Frame:

The price on the higher time frame is in a clear uptrend where we can see a series of higher highs and lows. The market found support around the 1.26784 CAD mark which could lead to the end of the correction and then a new impulsive wave to the upside.

USD/CAD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price is traded inside a bullish flag where it found buyers near the 61.80 % Fibonacci retracement which indicates the end of the correction and then a move to the upside toward the target profits indicated below.

Signal Idea:

Buy Limit Order @ 1.26603

TP 1 @ 1.27345

TP 2 @ 1.28083

Stop Loss @ 1.26380

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

  1. I do have some serious concerns around some of these recent signals. This one for example – you mentioned a bullish flag on the 1 hour, I personally can’t see that, there is a descending channel which it has broke out from, but a bullish flag would come after an impulse move to the upside, not it in a downtrend continuation. I was speaking to another VIP member and they have stated after backtesting your signals they said you have a 20% win rate and there seems to be some dishonesty around results, specifically around. Quoting winning trades where the orders didn’t even fill! I am still new to this group so I’m prepared to give you the benefit of the doubt, but as things stand I don’t see myself paying for another month as VIP.

    • Hey Scott,

      Thanks for your feedback.

      I will reply to you by saying that this trade was a successful one and it reached Target Profit with RRR of 3.33.

      Dont listen to others, evaluate by yourself.

      Happy Trading.

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