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radeStation Chart Analysis - USDCAD Weekly

Hi=1.1665 Lo=...

CAD-Weekly FOREX    B=1.1651 A=1.1656

"-WEEKLY CHART - LONG TERM TRADE POTENTIAL

i thinkthere issome potential here for a good trade. not a recommendation this is a marathon and not a race so just derno it if your not comfortable. i never risk morę than 3% on any one trade. i will set a buy stop at 1.1733 my initial stop 7 ticks below the current bar wherever that is when i enter. letssay that is 1.1640. on a 10,000 dollar account it would look like this.

10,000 x 3% = $300. 1733 minus 1640 = 93 pips. 300/93 = 3.2 lots either play 3 mini lots or 32 micro lots. i will move my stop to breakeven at 50 to 75 pips profit, this is the part that is descretionary. i trade by feel and do not have set or mechanical way of playing price action. i know some of you like mechanical trading, thats why i included Charles and rnichael. I do not let wmn.ęrs turn into losers. if i get up i move stop to BE asap and look for a ... a good run. i will also take partial profit atsome point.

[ \ i    if i lose its just 3 percent of my account at worse.

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