Possible Buy Zone - above 1.3140 Why; Buy Higher Highs because of strength Must have; USD Strength CAD weakness OIL weakness Potential Long Term; 14R 1400/100, 12R 600/50
Trade active
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Back in trade - buy on pullback at bottom of zone. NFP friday tomorrow.
Comment
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Plan A - Possible Long with Trend continuation. If: pullback to of value to entry (50 EMA). Then Long. Why: Oil remaining weak for the near future. CAD weak for near future. USD strong for near future. And follow shallow and very choppy bullish trend.
Or Plan B - Wait until NFP Friday /Oct is a good catalyst typically to find a breakout in either direction. Entry as swing trade. Long or Short.
Or Plan C- Watch for reversal - possible sell off on fridays /oil inventory reports. This pair is also well known for its swings between S/R Zone. Potential top now, Look for an indication of reversal for Swing trade. I never trade this pair for long term with a entry on friday. But I may take a few pips from a bracket trade on a news event.
Or Plan D - If: Too choppy and flat - Then: sit on my hands and watch, wait for NFP Friday.
Comments
4XRandalll
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Long on pullback, wait until bottom of channel, 1.2980 zone, This is a possible zone for a long entry, just depends on how aggressive you are.
4XRandalll
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Getting close to buy zone. Entry early next week. I will be watching oil prices, inventories and oil news closely