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USD/CAD BUY TRADE REVIEW (OCTOBER 20TH 2022)

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USD/CAD BUY TRADE REVIEW (OCTOBER 20TH 2022)


Analyse

Two days of sideways price movements bring us to the 20th October 2022. If you read our content, then you will know that a price move in any direction below 90% of the ADR (average daily rate) is a sideways movement. Trading an open bias is also possible when there are two consecutive days with sideways movements.

 

We accept trades on both sides of the price in an open bias. This means we can take long and short positions within the trade parameters. This logic allows us to capture a range border and is useful because the price is less likely than to move in large swings. We try to profit from this by trading the lower and upper bounds of the range.

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