USDCAD.... LONG TRADE IDEA

Hello guys,

I hope this week has not been so bad. Anyways, This USDCAD trade could be a nice one to close the week assuming price gets to my point of interest and checks my criteria for entry.

USDCAD for me is bearish on longer timeframes like the weekly, daily etc. but why I am interested in this long is due to my understanding of the market. Which is, for price to go long or bearish, it needs to take liquidity and if you go on the 4H timeframe, you will see where liquidity is sitting (Just above my target exit). This is necessary and if you check this out during your free time, you will notice how the market takes out lows and highs only to continue to the same direction.

For me, I think this is the reason why I have an issue with the order block system. Although, I have order block system integrated in my trading plan, I do not categorically trade off it and I implement it in only the higher timeframes like the daily and above.

I feel the market movers are fully aware that people are now trading off order blocks that they tend to just go below the order block and continue in the desired direction.

I look out for where people's stop loss could be, and liquidity pool (this can only be found below or above an order block which is perfect for the market makers).

Always try to figure out why price should turn or continue. This does not mean order blocks do not work. I am just saying they are good traps for market makers if you do not know how best to use it.

Let me know what you think about my trade idea and insights so I know if I should continue.

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BR
David