Hey Bros!!! Today is the 29th of October 2024, and as usual Bro In Finance is back with a USDCAD Trading Setup for you to get into and make some MONEYYYY!!!!
So as always lets analyse today’s USDCAD chart,
Its been only 1 day since the start of this week and so far the price of USDCAD is bouncing in between 1.3900 and 1.38785 making them good zones to target our next entries based on our company’s AI based machine learning model value.
AI Prediction
Today’s mean value generated by our Bro In Finance model is 1.38839. Our model analyse historical data, historical trends, market data and price movements to provide a better prediction with higher accuracy.
The model suggests a Sell trade but if we analyse the current price, you can see that there is no room for us to enter a Sell trade based on the value that has been generated. So the best move is to setup a pending trade with all the proper calculations.
Trade Setup
- Type – Sell
- Entry – 1.39034
- Take Profit – 1.38859
- Stop Loss – 1.39167
This Sell trading setup aims to get in the trade at 1.39034 and exit at 1.38859 as TP with 17.5 pips and 1.39167 as SL with 13.3 pips, while having a 1:1.32 risk to ratio.
Important
- This trading setup is only valid for 29th of October 2024. And it is advised to close the trade by the end of the day is either the Take Profit or the Stop Loss is not hit.
- Its always better to have the 15 mins chart and the 1 hr charts opened to get insights due to its clarity on how the price actually move. While the 15 mins chart shows you the changes in a shorter period, the 1 hr chart captures the overal movement. We do not recommend trading on anything less than 15 mins chart because it can sway you in your judgements with sudden price movements. And same thing goes to anything larger than 1 hr chart because we are aiming to hit day trades.
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Disclaimer: Forex trading carries significant risk and may not be suitable for all investors. This analysis, based on Bro In Finance’s proprietary data, is provided for informational purposes and should not be considered investment advice.
