TIME TO SELL USDCAD (when the setup presents itself)
Updated
Fundas - The oil bulls are rampant and pushing on, all dips being bought. Canada (as a major oil exporter) will surely start to see the effects and as such i expect there will be short term speculation by CAD bulls.
Techs - Major upside fakeout at the 1.3000 handle, sellers cam in full force. I am now looking for a correction after these two heavy days of selling. My entry area would be 1.2850-1.2900 with an initial stop above 1.2950. Then we can look for a ride down to the 1.2700-1.2650 area once direction is confirmed.
I wont chase the trade, I will let it come to me.
Happy Trading
Techs - Major upside fakeout at the 1.3000 handle, sellers cam in full force. I am now looking for a correction after these two heavy days of selling. My entry area would be 1.2850-1.2900 with an initial stop above 1.2950. Then we can look for a ride down to the 1.2700-1.2650 area once direction is confirmed.
I wont chase the trade, I will let it come to me.
Happy Trading
Comment
Trade going well so far...enjoy the profits!Trade active
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