USDCAD long entry at massive structure

FX:USDCAD   U.S. Dollar / Canadian Dollar
Hi all,

For the USDCAD             I am looking for a bullish move around the 1.283 area. This area looks like a huge turning point to me.

Entry: 1.2835
Stop: 1.2536
Target 1: 1.3399
Target 2: 1.3939
Target 3: 1.45876

Best of luck!
Comment: Getting closer and closer
Trade active
I am very new to trading, question..do you think this will actually happen Sunday when the markets open? or Monday or even Tuesday...Ok..I see its a daily chart..so it must be a prediction over a few days or so...am I correct? And when doing the longer trades, I suppose you make sure the lot size is real small? Any advice or comments are appreciated...Here to learn! :)
11021992 bobbysims3
If it happens, it will probably happen by the end of this month. It's quite a gap towards the area that I am looking for for my entry.
And the trade will probably also take a few weeks to reach the targets. Because of the pretty big stop loss, it's best to open a smaller lot size than you would normally do.
Or you can keep a tighter stoploss.
+1 Reply
bobbysims3 11021992
Wow...ok..like small as in .01? Looks like its a big stretch of movement. Would probably be a good thing to implement trailing stop loss once it gets gong good...you agree? Thats alot of pips that could be caught!
11021992 bobbysims3
It is about a 300 pip stop loss. I use a maximum of 5% risk of my equity per trade.
So with a $ 1.000 account, thats a maximum of $ 50 loss on this trade.
So yeah, somewhere between 0.01 and 0.015 if you have a $ 1.000 account.

You can also send me a private message if you need any information.
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