13 April 2012

USD/CAD : Feeling Foolish is Part of the Game

  • Trade : Long at 1.0037, stopped out at 0.9970 in less than 24 hours. A good example to show the importance of waiting for weekly confirmation (in this case the SHS reversal). But sometimes, by week's end, available good entry levels long left behind. Dilemma.
  • Daily : Loss of strong upside momentum followed by immediate sharp downside reversal. Sigh. I have been hit by too many such price action this whole year. Still, have to roll with the punches. Will I buy again if we now go on to break above 1.0052? You bet!
  • About time I am due a break; perhaps the short Copper trade will be the one. Certainly that chart looks good. (Please God, let this not be the kiss of death). Naked short HG now. Without the short TY hedge (out at 131-03 and 131-08), risk exposure is actually now quite high.
  • [Chart annotations done with iPad Skitch App. Very cool App by the Evernote team]

1 comment:

Taichiseal said...

1. Chart captured from Saxotrader on Windows PC.

2. Saved to Dropbox on Windows PC.

3. Open file in Dropbox/Camera Roll in iPad. Open in Skitch. Make annotations. Save annotated file to Camera Roll.

4. Email back to self and open on Windows PC. Post.