FX.co ★ Tips for trading USD/CAD

The latest trading plan for USD/CAD aimed to raise the price of the pair.

And as expected, the pair hit the first target today, leading to a breakout and a new, albeit small, ABC pattern.

Like before, wave "A" represents yesterday's upward movement. Traders could use this as basis when opening long positions, following the scheme presented above. Set stop-loss at 1.31200 and take profit upon the breakdown of 1.31930 and 1.32400.

The trading idea came from the "Price Action" and "Stop Hunting" methods.

Good luck in trading and don't forget to control the risks! Have a nice day.