ForexForex SignalsForex Trade IdeaJanuary 2011Looniesimple tradingsupport and resistanceUSD/CAD

Loonie Trade Idea – Part II

by Walter January 23, 2011 0 comment
The USD/CAD falls down to 0.9850 once again. (Click chart to enlarge.)

Where did the USD/CAD fall to? It fell to the 0.9850, which is the same level the USD/CAD previously found support.

Recently we looked at the USD/CAD chart, I suggested that the pair was due for a fall. The pair did indeed fall. Where did the USD/CAD find support? At the 0.9850 level, which is the same price the USD/CAD found support at on January 12, 2011.

Forex trading does not have to be difficult, it can be as easy as finding places on the chart where price reverses over and over again. These support and resistance zones are great places to look for high probability trade setups.

0 comment
0
Facebook Twitter Google + Pinterest

How far back should I start from? As a youngin', I used to go to birthdays, just about every weekend as a magician. This went on for about 11 years, then I retired from magic at age 21. I became a Psychologist and helped insurance companies choose the jury for high stakes cases. That was interesting, but not so much fun. Then I found forex. This is fun. I would be happy to show you how I trade for a living. Spend time on this forum, there is a wealth of information here for you. I am here to help as well as many of my trading buddies from around the globe. Happy Trading! Trading, talking about trading, traveling and surfing!

You may also like

Sweet Spots in Forex – Revisited

January 7, 2011

Working For You

October 19, 2010

The Myth Of Correlated Markets – A Trader’s...

March 10, 2015

What Traders Can Learn From Sushi

July 14, 2013

The Kangaroos Are Out at the Forum

October 8, 2011

Patience = Profits?

October 24, 2010

Loonie Trade Idea

January 17, 2011

Stop vs. Limit Orders in Forex

February 9, 2011

When Will Price Reverse?

January 7, 2011

How I made $33,000.73 trading today

April 12, 2011

Leave a Comment