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Hello, dear traders! Here is my trading plan for USD/CAD.
After a steep drop in oil prices in the American session, the positions of the Canadian dollar were somewhat shaken.
After a false breakout on February 10, the instrument remained bullish. The pair has a great chance of rising to the level where stop orders of bears are set. See the chart below:
Thus, we have a tree-wave structure - ABC. In this case, Wave A indicates bullish activity during the Asian session today.
Long position could be considered after a bounce from the 50% Fibonacci level of 1.27100, as seen on the chart above.
A Stop Loss and a Take Profit should be placed at 1.26876 and 1.28000 respectively.
I use strategies such as Stop Hunting and Price Action when drawing up my trading plan.
Have a nice trading week! Always remember to control your risks!
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
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