In this forex trading video we cover the entry,exit reasons and management for our forex trade today on the USD/CAD & how you can trade the forex structure on Daily & 4 Hourly charts using the lower timeframes. In the last two videos we covered the steps to find and trade structure. In this video you will learn how we traded the USD/CAD structure today using the intra day trading charts and price action.
How to find consistently profitable trading ideas on the daily basis (trading strategy to trade forex structure):
1) Clear direction & structure (Combine at least two time-frames).
2) Price close to the Support/Resistance (Do not buy the top/Sell the low!).
3) Bullish/Bearish PA with sizeable Risk:Reward ratio.
This forex trading video covers the trading strategy for forex structure, trading the forex major pair USD/CAD after price bounced from S&Rs and showed us bullish forex price action momentum. You will learn how to target yesterday highs and lows. Risk management and trading psychologys are major keys to stay consistently profitable forex trader. When you will learn this forex trading strategy on structure you will be able to find forex day trades consistently on week to week basis. In this forex trade video you will also learn very important tips on your trading psychology and mindset for your long-term forex trading success. In this forex trading video we discussed the reason behind taking this those forex trades, trading strategy, top-down approach using the price action, support & resistance zones, timing and most importantly - trading psychology and risk management. Without those two you will not be able to succeed as a trader. Remember this!
Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the fx market. Don’t trade with money you can’t afford to lose. You must be aware of the risks of investing in forex and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Weekly forex outlook opinions on this page are for informational purposes only and are not investment advice. You should do your own research before making any investment decisions and take full responsibility for your own results, performance.
Editors’ Picks
AUD/USD stays defensive below 0.6650 amid China worries
![AUD/USD stays defensive below 0.6650 amid China worries](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/AUDUSD/macro-of-aussie-100-note-8615104_XtraSmall.jpg)
AUD/USD seems vulnerable below 0.6650 in Asian trading on Tuesday, undermined by mounting worries over China's economic slowdown. The Aussie shrugs off small rate cuts by the PBOC and a subdued US Dollar. Pre-US earnings results caution also weighs on the pair.
USD/JPY keeps losses below 157.00, as risk-off mood returns
![USD/JPY keeps losses below 157.00, as risk-off mood returns](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/USDJPY/japanese-yen-currency-and-dollar-bank-note-60447626_XtraSmall.jpg)
USD/JPY remains under pressure below 157.00 early Tuesday. The Japanese Yen stays bid as risk-off flows return in the Asian session, sustaining the US Dollar weakness-driven downside in the pair. The pair looks to Japanese verbal intervention and mid-tier US data.
Gold price remains on the defensive below $2,400 mark, over one-week low
![Gold price remains on the defensive below $2,400 mark, over one-week low](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/stacks-of-gold-bars-19033163_XtraSmall.jpg)
Gold price struggles to attract any meaningful buyers during the Asian session on Tuesday and languishes near a one-and-half-week low touched the previous day. Biden’s withdrawal from the US Presidential race and unexpected interest rate cuts by the People's Bank of China boosted the global risk sentiment on Monday.
This week could be explosive for ETH: Ethereum ETFs to debut in the US on Tuesday
![This week could be explosive for ETH: Ethereum ETFs to debut in the US on Tuesday](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Coins/Ethereum/ethereum_XtraSmall.jpg)
Ethereum is down nearly 1% on Monday as the SEC confirmed via its website on Tuesday that it has given the final approval for spot ETH ETFs. Considering the ETH ETF launch and the upcoming Bitcoin Conference, this week could prove crucial for Ethereum.
Earnings review
![Earnings review](https://editorial.fxstreet.com/images/Psychology/earning-balance-26172140_XtraSmall.jpg)
In recent years, the focus has been on the Magnificent 7, particularly Nvidia’s monster earnings reports, which have dominated the market. While Nvidia’s results are still extremely important for overall sentiment, there is a hope that sales growth and revenues can pick up across a broad range of global markets and sectors.
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