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USD/CAD Up trend in 4 hours – Reloaded
Tuesday, November 3, 2015 17:58
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Trend is bullish in USD/CAD currency pair in four hours time frame. I have closed my previous buy trade in USD/CAD with 40 pips profit. Now I am back again with another buy trading chance. Vital support is present at 1.2829 price level. Based on Elliott wave analysis, I expect price to move up towards 1.3475 price area in next coming trading days. However; a bearish break down in price below 1.2829 support level will end the up trend. In such case I will stay out of the market and re-analyze the price action of USD/CAD 4 hours chart.
Source: http://www.fxinstructor.com/blog/usdcad-up-trend-in-4-hours-reloaded
I am always careful even with trend looking pretty obvious, as Forex is very surprising work where the most unexpected thing can occur. I am extremely lucky that I work with OctaFX, so that makes me safe with their rebate program that allows me to get 15 dollars profits per lot size trade and this is counted with the losing trade as well, so that’s why I can be bit aggressive even without been certain of the forecast to either direction.