majorlee
Long

[USD/CAD] USDCAD long the loonie! low risk:reward [BTFD VIP]

FX:USDCAD   U.S. Dollar / Canadian Dollar
Our first VIP chart from BTFD is going to look at longing (buying) into the USDCAD (also known as 'The Loonie')

Price has stayed above fridays close, shown with the purple line which is key for price to gather more gains

Strong USD pushing up on this pair with DXY trying to push up to over 97

CAD had some weak data late last week and early for this one

Indicators:

Cycle of Power showing more bullishness to come and not overbought at all, VixFix gave us a clear market reversal signal in green from 2 weeks ago RSI is starting to touch the overbought areas but still plenty of upwards price action here....


Entry: 1.305-1.313
S/L: 1.30350
TP1 (R1): 1.31845
TP2 (R2): 1.32765
TP3 (R3): 1.34240

Risk Ratio: 2.88

Any Questions or not able to understand the charts, please contact me in the BTFD VIP chat

Welcome to the BTFD VIP Trade room and this is our first official trade, first of many successful ones we hope!

Disclaimer: All trades here are for Educational purposes ONLY

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