USD/CAD Swing Trading 10 Pip Stop Loss 200 Pip Take Profit Target

11 December 2016, 08:21
Ahmad Hassam
0
34

USD/CAD is a highly volatile pair. It changes direction all of a sudden.

If you want to trade USD/CAD profitable then you must focus on keep the stop loss small.

I use H4 timeframe to make the entry direction once I have analyze the daily and the weekly timeframes.

Read this new blog post in which I analyze a USD/CAD naked swing trade that made 200 pips profit with a small 10 pips stop loss.

USD/CAD moves a lot on Bank of Canada announcements. You should keep an eye on Bank of Canada news release schedule.

USD/CAD is also negatively correlated with Crude Oil. After all Canada is a major oil exporting country perhaps the biggest oil exporter to USA.

Whatever happens in the oil market affects USD/CAD.

Keep these facts in mind.

As always focus on risk management more than anything else.

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