Setup:
It was noted that USDCAD could be losing more steam to fall to the 1.26 1.73 handle.
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
SL: 1.29485
TP: 1.28100
Trade2:
SL: 1.29485
TP: 1.27098
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:1
TP2 - 1:2.5
Total Risk:
2% or 140 PIPS
Total Reward:
3.4% or 240 PIPS
Good Luck :-)
It was noted that USDCAD could be losing more steam to fall to the 1.26 1.73 handle.
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
SL: 1.29485
TP: 1.28100
Trade2:
SL: 1.29485
TP: 1.27098
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:1
TP2 - 1:2.5
Total Risk:
2% or 140 PIPS
Total Reward:
3.4% or 240 PIPS
Good Luck :-)