Recent Posts

Buying USDCAD *30% Reversal

Traders! Happy Moneyday to you all!

I had a wild weekend so I am double thinking my actions today after I made a few mistakes over the weekend. (lost my wallet on Friday, I left it on top of my car and I drove off... worst Friday of the year!)

I was also away for quite some time from the markets and I kinda needed the time away to rest and refresh, the great thing about this rest is that I came back with a better approach of working. From today, PipsMatter is a 100% free traders blog and community. You are welcome!

Ok, I am running against the clock this morning, I have to go apply for a new ID and drivers license so lets shoot straight into this trade idea on USDCAD.

USDCAD Daily Chart

Here's my trade idea. I took a long trade on USDCAD, I am aiming for the minal profit target based on my TP zone.

As you can see, the yellow zone was broken because USDCAD gapped up in the early Asian session. Currently price is testing the yellow trend line and I believe we could see price head higher from this area and slowly head towards my TP.

The details

- Stop Loss: 107 pips

- Take Profit: 423 pips

So the risk/reward scenario is solid, just over 4 to 1 which is superb but it will take time to reach.

I dont expect to reach my TP today or tomorrow but I believe I can be there by sometime next week the latest. So the lifetime of this trade idea is between 5 and 7 trading days.

Thats all I have for you today. Have a prosperous trading week and i'll catch you guys later!

Follow Us
Archive
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square

Stay Connected

  • Black Facebook Icon
  • Black Twitter Icon
  • Black Instagram Icon
  • Black YouTube Icon

Member of Double D Ventures

Primed_V3.png
SUBSCRIBE AND GET FRESH POSTS & VIDEOS TO YOUR EMAIL:

Disclaimer: Any Advice or information on this website is general advice only. It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided by PipsMatter, or anyone associated with PipsMatter.

 

High-Risk Warning: Online trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of trading in forex, futures, commodities, cryptocurrencies, shares, and options and be willing to accept them in order to trade in these markets.

 

Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade or invest with borrowed money or money you cannot afford to lose.

 

Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.

 

Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.

© 2016-2019 Pipsmatter.com