18% of return in just one trade?

euro

Looks like Greece finally agreed to the Euro terms… and that’s a good thing traders, I wouldn’t like to see what kind of volatility we’d get if Greece was to move out from the currency…

You know what though… I think it will happen, not right now, but in a year or two, I think they will have to let Greece out of it…

Its been years like this, and somehow they manage to get into trouble over and over again… Maybe next time the other Euro countries wouldn’t be able to deal with it, and they’ll have to let them go…

I’m just speculating here. What do you think?

Anyway, here is a good possibility for you.

GBPCAD Signal

If you take a look at the daily chart, it is clearly trading in a bullish condition, which means that we should be looking for long opportunities.

Ok, now, on to the short term charts.

Take a look at the 15M chart:

GBPCAD 15M

As you can see, it is trading in a very clear short term range, which allows us to look for long opportunities.

Here are the details of my trade:

Entry: 1.9679
SL: 1.9637
TP: 2.0463

See the risk reward ratio??? Its around 17:1, pretty good ha?

And what happens if you risk 1% of your account on this trade?

How much would you be getting just in this trade?

Your turn

What do you think about the things going on in Greece?

What currency pairs are you monitoring/trading?

What do you think about this signal? Are you going to take it?

Share your thoughts.

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Raul Lopez

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 .

  • Ben Horsfall

    Hey Raul,

    Fantastic pickup on the shorter time frame, personally would love a break out and retest of the upper range with a classic low test around the 1.967 level. But overall from a fundamental perspective (and I know your not a big fan of it) going long on the pound at the moment is key. With the uncertainly in the Euro, with Greece still its biggest factor, the pound will be seen as a safe haven for foreign money, hence a big influx of traders into stronger currencies. just my 2 cents, but would love to hear your thoughts on this.

    • Raul Lopez

      Hey Ben,

      I had to close this trade before the NFP report yesterday, and thought about looking for a new trade here on Monday as there is no much volume left today (US banks are closed today)…

      And I definitely agree with you, most GBP crosses have a very strong bullish sentiment (not the case of the GBPUSD though)… As you say, investors see the GBP now as a safe haven…

      We’ll see how the market behaves next Monday…

      Have a great weekend!

  • Chad Hogan

    Hi Raul,
    How are you?
    I was long on GBPCAD but closed it prior to the non farm employment change as I wasn’t in front enough. I was also long on GBPJPY last week but took a significant loss due to the negative news on the EURO. Thank god it was just my demo! ha ha.. I’ve been short on NZDUSD since last week and nearly at TP. Currently monitoring GBPNZD for retracement signal and looking closely at AUSUSD. A bearish break might see the Aussie dollar tumble to 62-63c.
    I look forward to the coaching sessions at 10pm next week.
    Thankyou
    Chad

    • Raul Lopez

      Hey Chad,

      Same here, we had to close our GBPCAD trade before the NFP report… And we also have a long trade in the NZDUSD, we had more then 80 pips on our favor on that one, so we were able to hold it (I think we’ll hold it over the weekend).

      AUDUSD already broke the lower support level, triggering a bearish condition, so yes, I’m with you here… I have my next LT level at 0.7046 though (from the weekly charts).

      Have a great weekend and I see you next week!

  • mueed

    Hy Raul GBP/cad sl hit .so what is your next trade plan about any pair.please share

    • Raul Lopez

      Hello Mueed,

      It didnt get hit, we closed that trade before the NFP announcement… we got to be careful about the most important announcements…

      Good luck!

  • Eric Aroh

    Hi Raul,

    Another excellent trade! The R:R is very impressive. However, I am already trading GBPNZD; this pair has a high (positive) correlation with GBPCAD. So I will wait until after the NFP news today.

    I was trading the following pairs (terminated them all @ 11:00 AM GMT today, due to pending NFP and uncertainty with the Grexit):

    * CADJPY, long, +50 pips
    * GBPNZD, long, +300 pips
    * NZDUSD, short, +50 pips (slighty negatively correlated with GBPNZD)

    I will stay on the sidelines until Friday, after July 4th USA independence celebration

    Grexit: I hate to think that Greece may go the way of Argentina by defaulting. However the EUR has gathered more strength than weakness in the ongoing drama. I believe that a Greek exit will actually STRENGTHEN the EUR; a case of getting rid of the weakest link thereby making the chain a lot stronger.

    What do you think?

    Eric

    • Raul Lopez

      Hello Eric,

      Wow! Congrats for those trades… I’m glad you decided to close everything before the NFP, you never know what could happen…

      I did close everything, but a trade I still have on the NZDUSD… I think I’ll hold it over the weekend!

      About Greece, it’s difficult to tell Eric… I’d like to see they come to an agreement, I think that’s the best for all! Some analysts say if Greece goes out of the Euro, it will be the beginning of the end of the single currency…

      We’ll see what happens!

  • Hey Raul. Looks a good trade. But tell me please. Why Entry: 1.9679 and TP: 2.0463. Sorry if this sounds dumb.
    Thanks,
    Andy

    • Raul Lopez

      Hello Andy,

      There are no dumb questions…

      My entry is at that level because I want to get in after the market breaks through the upper extreme of the range…

      And my TP level is just below the next long term resistance level.

      HTH

      • hira

        its also good to get in on the momentum its a lot easier the trying to find the retrace area …

        • Raul Lopez

          Yep, that’s the reason i like to take breakout trades, because the market is actually moving in the intended direction!

          Good luck!