USDCAD 1 week, 2%risk >100%Return on Capital

FX:USDCAD   U.S. Dollar / Canadian Dollar
1021 4
Guys see my post below where I explained my trade plan for USDCAD a week ago:

First of all, I never have more than 2% cumulative risk for my whole trading portfolio. For every new position I take my previous position should be at least at break even.
15min tf shows the trades.

Those who trade with me saw me enter the first aggressive buy at 15 min which I wasn't able to share on Tradingview. Although this was aggressive I followed my rules. The Posts here on Tradingview gave the second and more conservative trade set-up, if you traded only that set-up with 2% risk you are up 20%.

I'm not done with USDCAD yet, there is no reversal sign yet and we might even see another consolidation that gives us the opportunity to buy again keeping in mind the high probable targets I mentioned in my previous post.

If you like what you see follow me. My goal is to show you how to look at the market, Technical's, Fundamentals and market dynamic. You don't need to trade many pairs or many set-ups, you don't need a lot of capital. You need to know what to look for, when and where. I personally target 10% ROC a week and you can do the math even when you start with $100. Focus, hard work, discipline and patience is all you need.

Have a great trading week and I'll be posting more high probability set-ups.


www. facebook .com/wwwtimstuytscom/


Comment: To see my first entry and how to enter, add to me on Facebook since I can't post it here.
Comment: We might see another buy opportunity soon for USDCAD. However for now I think that a more significant retrace is more likely. This will indicate a bearish break out of the bullish channel. Selling a consolidation below the channel seems a good idea in that case.
Comment: The bearish break wasn't confirmed so there was no short trade (at least not for me). Nevertheless this bullish response also tells us something else. IF we see that high taken out we are dealing with an extension. A strong move but an extension so don't be surprised to see a strong bearish response to the 1.34 price zone which is also my long term target for months. Let's see what will be next but I will actively follow this pair and manage my long positions from last week.
15 min consolidation might present a sell trade first.
Have you turned bearish on this pair?
TimStuyts ezodisy
No not yet, but we saw that last bullish impulse (07-24) and new high which provided a short term buy, that's when I had to move my stop loss of my last position in this pair to the low for the last consolidation. Short term I expect a bearish continuation that can be traded from lower time frames. Then I will be looking for a reversal towards 1.34 or keep the short open once it accelerates lower. I also updated oil which will have a big impact on this instrument. But let's focus on what the data presents us which is most likely a short first. Have a look at my EURAUD update of yesterday, same concept. I expect at least a minor bearish continuation, this can either be the start of a bearish trend or result in a bottom (divergence) and reversal. I'll update this pair next week once we see some movement. Let me know if it is unclear. But the market is moving crazy so we need to join the move and then simply adjust and remember: there is no such thing as an impulse that comes in 1 wave so wait for the first and the consolidation and trade the third. This can be done on all time frames and works in all kind of markets, just move to a lower time frame when dealing with a ranging structure on higher time frames.
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Very informative! Great trade. here was my idea from a few weeks ago as well
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