a-ads

Tuesday, October 17, 2017

[FOREX TIP] USDCAD Price Action Analysis – 1st Sept 2017

Before you continue, we want to make sure you understand that this is a past trade idea found inside The Price Action Club which is a premium Price Action trade signal service. This post is 1 week delayed and this idea is no longer valid but the lesson is still valid. We post this to show you what is inside the Price Action Club. It would be awesome if you join us to learn and to trade our trade ideas. We hope to see you inside the Price Action Club soon. Click here to join us…

Join The Price Action Club Here…

USDCAD Price Action Analysis – 1st Sept 2017

USDCAD produced some solid H4 Bearish candles. The price might have found a Support, but the pair looks good to make another bearish ride if it retraces from a good level of Resistance. Let us have a look at the H4-USDCAD chart….

Have a look at those Bearish candles. The price seems to have started its retracement from the level of 1.24500. If the price goes up to 1.25300 and if the level produces an Engulfing Bearish Candle, then selling the pair would get us some green pips. Let us have a look at the summary of the trade…

  • Sell Limit Order: 1.25300
  • Stop Loss Level: 1.26000
  • Take Profit Target: 1.24000
  • Validity: 72 hours
  • Whenever possible, move the stop loss to the entry price and whenever you want, you can take profit anytime as long as you feel comfortable

Today the USD is going to have one of the biggest news events for a month. Thus, the pair might get into its extreme volatility. Ideally, this setup would need about 6/7 candles to get at the Resistance level and to produce the trading signal. However, it might be different today since “Unemployment Rate” to be declared at 12.30 GMT. Thus, it might not take as long as it would usually take. The worst thing would be if the level is not held because of the extreme volatility. Then, this setup would be a void setup. Whether the level is held or not held, we have to make sure one thing that we wait for the trade signal after the news event hour. This means H4 candle, which ends at 13.00 GMT that should be the signal candle.

You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.

We hope that you enjoy our Free Forex Trading Signal today: USDCAD Price Action Analysis – 1st Sept 2017

Join The Price Action Club Here…

 

The post USDCAD Price Action Analysis – 1st Sept 2017 appeared first on Advanced Forex Strategies.



from Advanced Forex Strategies

No comments:

Post a Comment

bitcoin faucet

Popular Posts