I've just entered a spur of the moment USD:CAD long at 0.9993 based on some of the following parameters.
Firstly, although not a major factor in this decision, this long position has the potential to act as a hedge against my existing GBP:CAD short position (showing a 10 pip profit as I type). Ultimately the real decision for the basis of this trade was made upon
GBP CAD is one pair that really hasn't responded to my previous analysis. I loved the idea of the Daily Ascending Triangle formation that would finally form a break-out from the 12 Month trading range. Thus far, that hasn't come close to materialising and further technical damage has been done since.
Because of it's choppy nature and wide spread,
My last trade on this pair was a short entry in a very high probability set-up that did begin to play out quite well but unfortunately price reversed with some gusto so I abandoned the trade.
Despite the recent strength I still have no interest in the
As there still isn't anything convincing for a Swing Trade right now, here's details of a day trade long entry I took this morning in GBP:CAD and an explanation of the methods I used to enter the position..
On the 15 minute time frame this morning's price action appeared to print a
As with practically everything that moves, I've been watching this for a while. My last trade was a swing short back in June of 2011.
It does tend to be slow moving which makes it more cost effective to trade on futures contracts rather than daily contracts where the financing can
Euro aside, not a great deal has changed following the last couple of Weeks worth of analysis detailing trading set-ups that still remain pretty solid, most of which are still valid or have moves still in their infancy. To avoid going over that ground again, here I'll cover a few possibilities from the watchlist where we can watch out for
I've been itching to post about my long term outlook for GBP:CAD for ages now and have been running a couple of small trades on and off the long side for a couple of Months now but haven't reached the level of confidence required to really jump into these in size or with real commitment.
Now that might be changing and here I present you with a trio of trading opportunities to make the most out of a bearish Canadian Dollar.