The USDCAD has been ranging around the parity:
Here is my trading plan:
If the USDCAD breaks the top of the range (upper green line), It will trigger a bullish market condition and only long trades will be in play.
If the USDCAD breaks the bottom of the range (lower green line) it will trigger a bearish market condition and only short trades will be in play.
If the Canadian dollar keeps trading in between both green lines, I will do nothing.
I’ve been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .