USDCAD – Live Price Action Trade At LLT +100 Pips in Profit | Sep 1

USDCAD – Buy Trade At LLT Up +100 Pips, MT Still Bullish (4hr chart)
A lot of members in the course were asking about this potential LLT trade so I wanted to share my trade on this one. I’ve been bullish on the USDCAD for some time in the members trade setups commentary, and we had a nice LLT setup yesterday.

I placed my order at 1.3150 as the last two touches back on August 24th were just a few pips below 1.3150 (red arrows), hence I made that my trade location.

After forming an inside bar at this level, the pair bounced, sold off on today’s CAD numbers, held, then has bounced since now up about +100 pips since.

My initial SL was below 1.3100. Why there? I felt like with the increased volatility this week (and last), I wanted to give my trade a little buffer, so put it at 1.3096.

If I wanted to be more conservative, I’d put it below 1.3060 which was the base on Aug 20/21 before making a new swing high.

My target is in the high 1.33’s, hence offering me +225 pips on about a 53 pips stop, or +4R. Currently I’m up about +1.75/2R so will be locking in profit shortly along with neutralizing the risk.

We’ll need to clear the 1.33 handle if it’s going to hit the August highs, but am staying ST/MT bullish while above 1.3150 on a daily closing basis.

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Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Max Ahartz

    Hi Chris,
    How did this one work out for you? I noticed price reached just above the 1.33 level before sharply pulling back. Did it hit your adjusted in profit SL level? What was the final RR? If you manually exited, what structure did you recognize that made you decide to exit?

    • Chris Capre

      Closed but not for as much profit as I wanted. Didn’t like the volatility selling before NFP so let it go.

      Final +R was around 1.5, so a B- in my book.