USDCAD LONG

Jan 1, 2023

Hello traders,

Today we are looking at USDCAD.

Why are we entering?
- We are forming wave 5 subwave 2, microwave C
- We are expecting price to reject our 0.618 fibonacci before we see subwave 5 form

What is our confirmation?
- Rejection from our buy zone
- Break of WFB

Entry
- Safe Entry: Rejection of our buy zone with a break of our WFB
- Risk Entry: Rejection of our buy zone
- Risk Entry: Early break of descending WFB

Once entered, where will our Stoploss be?
- 30 pips below our 0.618 fibonacci: below 1.337
- Move SL to BE after running 30 pips

Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
- First TP - Previous high: 1.4 (600pips)
- Final TP - -0.27 fibonacci level: 1.43 (900pips)

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