USDCAD Trading Setup

The trading week has not been that turbulent so far. Apart from the GBP-pairs, we did not see a lot of action.

by: Colibri Trader

The trading setup from last time start showing profits from the very beginning. Today we saw a small healthy retracement, which could have made you add an additional small position if you are following my strategy. If not, I do not see a reason to take profits at this stage. You can let this one run more.

USDCAD Trading Setup

Today’s trading idea is coming from the USDCAD. The pair has broken the closest resistance and has tested it once. It looks like the bulls are just getting prepared for more upside action. There is a daily pin bar that formed just above the resistance area. My trading idea is a long trade from here. I will be looking to enter at around 1.3250. My stop loss would be placed just under 1.3150. My initial target is located at the psychological level of 1.3500.

Happy Trading,

Colibri Trader

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