JD_TeenTrader

USDCAD Buying trade for 150 pips profit (1:3 Risk to Reward)

Long
JD_TeenTrader Updated   
FOREXCOM:USDCAD   U.S. Dollar / Canadian Dollar
FACTS:

1) USDCAD is in a strong uptrend
2) This is seen in the daily and H4 charts
3) USD is still very strong but going through a retracement
4) There is a harmonic pattern completing around 1.2730 - 1.2740
5) Oversold in M15, M30 and H1

Let's wait for divergence to hop into this trade.

Good luck!
Trade active:
There is a small inverted H&S in M15. This is the trigger I am waiting for and it is a BUY now. SL just 40 pips
Trade closed: target reached:
A near perfect trade. I left 50 pips on the table sadly and took profit with about 70 pips only. Split the trade with AUDUSD as it paid out higher.

29/04/22 DEAL USD/CAD Mini converted at 1.07354490320793 SD SD32.26
29/04/22 DEAL AUD/USD Mini converted at 1.374876075 SD SD39.53

Closing 10 days of trading with 3.9968% gain.

Funds: SD10,399.68

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.