Wednesday, September 2, 2009

USDCAD

Hello folks...Pretty straightforward trade again today. Prevailing dollar strength is suggesting longing the USD/CAD and shorts on the other dollar-related pairs. We are getting a nice signal here on the 4 hour chart.
Yesterday's trades were pretty good. I made about 70 pips on the EUR/JPY, when I was about to sleep and price was stalling, so I decided to bolt. If I stayed in it would have hit my original target another 40 50 pips away. I was also short the EUR/USD, but it was reversing on me just as I was about to hit the sack so I got out with 10 pips. Not bad I guess.
Good luck for the day, and as always, your thoughts are appreciated.

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