As you already know, one of our main jobs as traders is to scan the markets and try to find the instruments that have two things:
Clear S&R levels, this way we know what the market is doing and most important, what it is likely to do, and
Good profit potential, well, this one is self explanatory.
If you keep trading those instruments, you’ll get results.
Of course, sometimes the market will move against you, but it doesn’t matter, because above all, you’ll be focusing in your trading as a whole, a group of trades, not individual trades.
So you only need to make sure to win more when the market goes on your favor… and that’s it!
Forget about the accuracy of the system.
Most profesional traders will tell you that 80% of their profits, come from 20% of their trades.
Do you agree with me?
Here is the signal.
I already talked about the USDCAD a few weeks ago, it is trading in a very clear bullish condition and what I like about this one is that, the next LT resistance level is at 1.3958, it is currently trading at 1.3123, so we’ve got plenty of profit potential in this chart.
Now, lets take a look at the short term chart and look for our entry:
Entry stop order: 1.3190
The next LT resistance level is at 1.3954.
What currency pairs are you currently trading/monitoring?
What do you think about the USDCAD? Are you going to take this signal?
Share your thoughts.