USD/CAD Price Forecast 6th November 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 H4 timeframe. I’ve shared a trade setup image for your reference. The details of the trade are as follows:

Pair: USD/CAD
Timeframe: H4
Sell Stop: 1.37590
Stop Loss (SL): 1.39910
Take Profit (TP) 1: 1.36430
Take Profit (TP) 2: 1.35260
Take Profit (TP) 3: 1.37710

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.

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To Your Success!
Tim Morris