09 October 2012

USD/CAD : Try Again - Short @ 0.9790

  • Recent attempt shorting at 0.9812 unsuccessful, stopped out for small loss (out 0.9822). Shaken out by the rally to 0.9888.
  • Technicals which got me in then are still valid. Weekly chart showing signs of multiple tops in place and NL (at 0.9799) of that broad formation is broken. Hence, trying new short at 0.9790.
  • Large stop set above recent high at 0.9888, so this is not going to be a cheap trade. Hence, no pyramiding on the new trade. Only single unit risk until trade is proven (by going deep into the money) and a tighter (but sensible) stop becomes evident.

1 comment:

Taichiseal said...

Stopped out at 0.9901