USDCAD LONG

USDCAD LONG

Why are we entering?
- Expecting USD strength (26/27 July) during the FED meeting as they are increasing interest rates.
- Anticipating bounce off buy zone
- In wave 2 ABC

What is our confirmation?
- Bounce off structure & fibonacci level

Entry
- Safe Entry: No safe entry yet. Will look for WFB when we approach the buy zone
- Risk Entry: Entry of bounce off structure

Once entered, where will our Stoploss be?
- Below structure 1.279 (30 pips)

Where do we take profits?
First TP: 1.307 (250pips)
Second TP: 1.322 (400pips)
Third TP: 1.34 (580pips)
Long term TP: 1.365 (820pips)