The EUR/CAD is forming a new uptrend on the D1 time frame. This is the beginning of a new trading cycle on this pair. You can enter a buy trade on this pair and ride the trend upwards with confirmation on the entry point form The Forex Heatmap®. Start looking for heatmap buy signals on this pair starting tomorrow in the main trading session. The target price area is 1.4100, denoted by the yellow line on the left. The current resistance and price alert point is at 1.3845, so the overall potential is around 250 pips, which is excellent risk and reward ratio. At Forexearlywarning we prepare trading plans for 28 pairs similar to this plan. Check out our website and profitable forex trading system.
By analyzing the EUR/CAD across multiple time frames you can determine if the trend is fresh like the example above. If traders get into a forex trend near the beginning their risk to reward ratio is substantially in their favor. If you start this trade with a 30 pip stop order, your reward to risk ratio is excellent at 8 to 1 positive. This is a great way to ensure profitable forex trading.