25 June 2013

USD/CAD : Inverse SHS

  • Believe I have put in enough time to cool off after making a mess of my long USD+short Rates trade earlier. Time to re-start in small. Plus - this break is fresh so is a cheap trade if signal fails.
  • USD/CAD monthly has broken the 1.0445 neckline of an inverse SHS bottom. Objective is some 10 big figures away at 1.1485.
  • Trade : Long at 1.0471, stop close below 1.0445.
  • Main focus remains selling a ED retracement. Will have to be a process of averaging in slowly. Impossible and foolish to try to pinpoint an exact top.

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