Wednesday , 6 November 2024
Home Forex USD/CAD Price Forecast 31th October 2024
Forex

USD/CAD Price Forecast 31th October 2024

Strategy: Flip 55

The Flip 55 is a trend-following strategy. This straightforward approach utilizes 2 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%.

Recommended Timeframe

This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes.

Trade Details

Currently, the Flip 55 strategy has identified a trading opportunity on the USD/CAD pair within the H1 timeframe. I’ve shared a trade setup image for your reference. The details of the trade are as follows:

  • Pair: USD/CAD
  • Timeframe: H1
  • Sell Stop: 1.38785
  • Stop Loss (SL): 1.39425
  • Take Profit (TP) 1: 1.38545
  • Take Profit (TP) 2: 1.38545
  • Take Profit (TP) 3: 1.38065

Lot Size

For risk management, ensure you do not risk more than 2% of your account per trade. For instance, with a $10,000 account, the maximum risk should be $200.

This Trade Ideas is brought to you by:
=>> Forex Kick Start’s Systems

Get a FREE $50 trading bonus and 50% trade rebates/cashback when you sign up using this unique sign up link with Partner Code “7W3JQ“.

To Your Success!
Tim Morris

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

The US treasury auctions off $25B of 30 year bonds at a high yield of 4.608%

High Yield 4.608%WI level at the time of the auction: 4.63%Tail: -2.2...

US treasury to auction $25B of 30 year bonds testing the buyers appetite

The US treasury will auction off $25B of the "grand-daddy of them...

EURUSD moves down toward triple bottom in June and bounces. Sellers still in control.

The EURUSD moved higher before the results of the election started to...

Nomura now sees just one Fed rate cut in 2025 after Trump win

Nomura anticipates that the Fed will respond cautiously to a Trump administration...