USDCAD – Buy Setup From Support Zone Profits | Feb 26

NOTE: Today we launched the Advanced Traders Mindset Course. Learn to re-wire your brain for successful trading and get over your biggest trading challenges. Click here to learn more (available till April 2nd, 2015)

USDCAD – Buy Setup From Support Zone Profits (1hr chart)
We talked about buying in the support zone in our last few members commentary. As you can see, this is a live trade setup I’m in right now, currently up about +112 pips of profit and a 33 pip stop, for a +3.39R at the moment. I was going to buy a little higher in the support zone, but my price action read in real time suggested it will likely ping the bids lower before bouncing.

As you can see from the chart below, we literally caught the lows of the day by 6 pips. Once again, good trades do not take a long time to profit. This one was in profit within an hour, was at +2R in 3 hours, and +3R in 6 hours. Trades with good entry locations and timing do not take weeks to make a good profit. Only bad trades do.

For now, I’ll probably neutralize the risk and take some profit off the board as there is no reason to lose money on this trade heading into the weekend. My upside target is 1.2650 for now which was the recent peak before we had some impulsive price action selling, so am expecting some offers parked there. Only a daily close below 1.2350 negates the bull trend MT.

usdcad live price action trade 2ndskiesforex

Also in our members trade setups commentary, we cover the EURUSD, GBPUSD, & the EURGBP (Live Trade Setup). Click here to become a member.

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18yrs of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.

Related Article