Saturday, May 19th, 2012

USDCAD May be Turning Around

3

1.0025 is still my line in the sand for this trade and price has really struggled there, but we may be seeing some signs of turn around on this one, now that it has had a chance to bounce around parity for awhile.    A close above 1.0025 on the 1h chart will signal a trade for me.  My first profit target for this trade will be 1.0070, but I’m willing to leave a little on for a longer term trade (possibly all the way back to 1.025).  If you like long term trading this pair is a total pain for that trading style…so be cautious.

Click to enlarge

Let me know what you’re watching/trading.

Comments

3 Responses to “USDCAD May be Turning Around”
  1. I’m in my first test position.

  2. Aby David says:

    I’ve been out of things lately, I hope to be back on track this month … but did i miss wednesday WLW, i tried a few times but the link kept saying waiting … did i miss it, is there something i’ve missed ?

  3. No, Aby… I was sick yesterday and didn’t have a WLW. Should be back on track by Monday. :)

    I’ll also be back in this long trade on a close above 1.01.

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