Trading (FXC) With Integrated Risk Controls
April 11, 2024, 19:52 pm ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for FXC
- Buy FXC slightly over 70.96 target 72.08 stop loss @ 70.76 Details
The technical summary data tells us to buy FXC near 70.96 with an upside target of 72.08. This data also tells us to set a stop loss @ 70.76 to protect against excessive loss in case the stock begins to move against the trade. 70.96 is the first level of support below 71.4965 , and by rule, any test of support is a buy signal. In this case, support 70.96 would be being tested, so a buy signal would exist.
- Short FXC slightly under 72.08, target 70.96, stop loss @ 72.29 Details
The technical summary data is suggesting a short of FXC as it gets near 72.08 with a downside target of 70.96. We should have a stop loss in place at 72.29though. 72.08 is the first level of resistance above 71.4965, and by rule, any test of resistance is a short signal. In this case, if resistance 72.08 is being tested, so a short signal would exist.
Swing Trading Plans for FXC
- Buy FXC slightly over 72.08, target 73.16, Stop Loss @ 71.87 Details
If 72.08 begins to break higher, the technical summary data tells us to buy FXC just slightly over 72.08, with an upside target of 73.16. The data also tells us to set a stop loss @ 71.87 in case the stock turns against the trade. 72.08 is the first level of resistance above 71.4965, and by rule, any break above resistance is a buy signal. In this case, 72.08, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short FXC slightly near 72.08, target 71.47, Stop Loss @ 72.29. Details
The technical summary data is suggesting a short of FXC if it tests 72.08 with a downside target of 71.47. We should have a stop loss in place at 72.29 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 72.08, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Day Trading Plans for FXC
- Buy FXC slightly over 71.59, target 72.08, Stop Loss @ 71.42 Details
If 71.59 begins to break higher, the technical summary data tells us to buy FXC just slightly over 71.59, with an upside target of 72.08. The data also tells us to set a stop loss @ 71.42 in case the stock turns against the trade. 71.59 is the first level of resistance above 71.4965, and by rule, any break above resistance is a buy signal. In this case, 71.59, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.
- Short FXC slightly near 71.59, target 71.23, Stop Loss @ 71.76. Details
The technical summary data is suggesting a short of FXC if it tests 71.59 with a downside target of 71.23. We should have a stop loss in place at 71.76 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 71.59, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.
Check the time stamp on this data. Updated AI-Generated Signals for Invesco Currencyshares Canadian Dollar Trust (FXC) available here: FXC.
FXC Ratings for April 11:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Neutral |
Neutral |
| P1 |
0 |
0 |
70.96 |
| P2 |
71.23 |
71.47 |
72.08 |
| P3 |
71.59 |
72 |
73.16 |
AI Generated Signals for FXC
Blue = Current Price
Red= Resistance
Green = Support
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Fundamental Charts for FXC:
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