Signal Stream - USDCAD Long Signal

2018年8月6日Just now getting some time to sit down and make a few posts. There have been a number of excellent signals generated lately.

** Note - lines were drawn by me. The vertical lines are where the signal generated, and the horizontal lines are initial close range targets.

USDCAD has been ranging recently, with a long signal appearing a few days ago towards the bottom of it.

This trade was fairly straight forward. The initial close range target was at 1.30267, which lined up nicely with the top of the trading range. Price moved up to reach our target, and has continued to range since.

Price is currently considering the 1.3000 level, which is significant for this pair.

The 1.3000 S/R level was very clearly established by prices back in 2003/4 and strong resistance in 2008/9. Furthermore, price in the last two years seems to be hovering around this level, ranging around and coming back to it.

In addition to the strong horizontal S/R level we're at, price is also sitting on an ascending trend line formed by lows back in January and April.

Support has has been holding, and while I personally am waiting for more clear long signals on this currency, I will definitely be taking the recent downtrend and Signal Stream signals into account.

There are many ways to trade Signal Stream.

Signal Stream signals have a high chance of hitting their targets even if the market moves in the opposite direction, long after the signal appears.

It's like the market is attracted back to these levels if they don't hit it immediately.

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