USDCAD MWR LONG TRADE IDEA
Updated
#USDCAD
BUY @1.3304
STOP @1.3343
TARGET @1.3500
R/R 4.4 for 1
COMMENTS
The CAD has extended to the downside doe 3 days in a row and broke the MAR creating a false trend at the beginning of the week. Currently, it's trading at the zone of support with DIV and a W pattern. Price breaking trendline giving a conservative entry.
BUY @1.3304
STOP @1.3343
TARGET @1.3500
R/R 4.4 for 1
COMMENTS
The CAD has extended to the downside doe 3 days in a row and broke the MAR creating a false trend at the beginning of the week. Currently, it's trading at the zone of support with DIV and a W pattern. Price breaking trendline giving a conservative entry.
Note
Correction in stop loss at 1.3243Note
Price is heading to the next zone of support between 1.3220 to 1.3213. We are looking to reenter after price gets to that area.Note
After fundie, price has done a spike from the zone of support. Weekly ATR is completed and price has closed a CAR. Look to reenter at market price with SL below the wick at 1.3173
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