Anatomy of a Potential Entry
A frequently asked question we get so often is how do we determine a potential entry level where there are multiple levels of interest within a particular zone or area.
So here is a brief 4 minute video on the Anatomy of a Potential Entry on USD/CAD for June 8, 2020.
We never know in advance which level or zone may work but one way to find out is determine how much you're willing to invest as a stop loss to see if a level or zone will hold.
If it does hold and you've defined an acceptable reward to risk ratio that fits within your style and risk tolerance then it becomes an exercise of trade management until price reaches your target profit level(s).
Update June 10, 2020
June 11, 2020 Update - Trade Entry and Management
Review our 2020 outlook for USD/CAD from December 2019 and how you could have benefited from ChartPros Market Insights.