ElemontFX
Long

USDCAD BOUNCE SETUP

FX:USDCAD   U.S. Dollar/Canadian Dollar
219 1 7
USDCAD             is currently testing the bottom of its main flag pattern and is finding demand early on. There is an opportunity here for a very high risk:reward trade, using a super-tight SL just below the trendline . Our loss will be very minimal whereas our profits would be over 7x the loss.

If the bottom trendline does break, it may warrant an entry short targeting the next support level upon confirmation.
Trade active: I moved my SL to just above my entry so I am in a risk-free trade, and I recommend the same for everyone else trading this
Trade closed: target reached: I took profit at the 200 MA
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out