USD CAD TESTING KEY PIVOT LEVEL

Hi Traders,
USD CAD is testing the daily pivot point which is in confluence with the 38.2 retracement level. Since the 1hr chart is above the 50SMA a 15 pip buy opportunity can unfold. We recommend an entry if price gives a chart pattern in lower timeframe like 5min. Its safe to do scalp trades before the data release.
For queries comment below and dont forget to like and follow.
Happy Trading....

Comment:

Breakout of the pivot is not advised as there are lot of support levels where price can react.

Comment:

USD CAD is inside the golden zone. if the pair gives a chart pattern in 5MIN we can enter a buy with a target to nearest resistance...

Comment:

double bottom pattern forming in 5 min chart inside golden zone....

Comment:

we will be entering a call at the second bottom on stoch (5,3,3) crossover. This trade will be a bit risky as there is lot uncertainty in the markets because of data release.
Stoploss will be below the first bottom and the zone. Target would be near the recent resistance.

Comment:

this trade has the potential for 14 pips. but be cautious at resistance levels..bcoz there is lot of noise in the market today
Join the discussion

Comment:

expecting a heads & shoulders pattern in 5 min chart inside the golden zone.

Comment:

we will be entering a buy at the right shoulder on stoch (5,3,3) crossover. This trade will be a bit risky as there is lot uncertainty in the markets because of data release.
Stoploss will be below the head and target would be near the recent resistance.

Trade closed: target reached:

wow another great trade....