I'll be scouring the charts for "actionable masterpieces". These will be signficant chart patterns or set-ups that I feel are not only tradeable, but also have a high probability of making big profits with little risk. Whenever I spot an "actionable masterpiece", I will post an annotated chart (my chart art) along with an explanation. My goal is to help you learn how to spot these low ocurring but highly profitable "actionable masterpieces" yourself.
Buy USD/CAD
With oil prices receding and the dollar currently bouncing higher, I'm looking to go long USD/CAD for a possible short-term correction from its recent downtrend. There is bullish divergence present with price making lower lows while the oscillator has been rising.
I'm going to buy now at parity (1.000). My stop loss (SL) will be .9920, below yesterday's low. My profit target (PT) will be 1.0275. I will post any trade adjustments below in my comments section.
Buy USD/CAD @ 1.000 | SL: 0.9920 | PT: 1.0275
