I'm somewhat late posting details of this trade as it was entered by an electronic limit order at a time where I had no internet connection to tweet it live, although details of the trade possibility were posted on the ADVFN forum in advance.
In short, here is what attracted me to this trade, entered at 1.4260:
Following on from previous EUR USD analysis posted on this site over the last few Weeks, I've finally decided that I've spent too long waiting and missing desired entries!
The first ideal entry was 1.3000 and I missed that when it rallied 200 points within the couple of hours I was away from the screen.
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.
What a tough week it's been from a swing trading view point!
Woke up Monday morning, checked through the Watch list and the set-ups were coming together nicely, but by Monday afternoon everything seemed to be falling apart and I had one of those days where I started thinking all my TA posted last Weekend was a complete waste of time!
Approximately 18 Months ago I projected a USD CAD low in the region of 0.9400 - 0.9460This low was subsequently achieved earlier this year but this came without any real capitulation which kept me out of the long entry I'd waited so long for. Neither did my generally reliable system give a long signal on the rise from that low, so I post this analysis with relative caution.