21 February 2014

USD/CAD Monthly : Periscope

  • Apologies to jeffwarbus and anyone else reading blog who had not been given a true picture of my long USD/CAD trade due to laziness on my part.
  • As per original post for USD/CAD trade, was stopped out at 1.0960 but did not record that here.
  • Subsequently re-entered long trade at same rate (1.0960). Why?
  • Because of high conviction level in my favorite trading pattern = periscope-like pattern breakout of a long consolidation band. So I was prepared to give trade another go, and did.


Taichiseal said...

Sold another 1/3 at 1.1185

Left with 1 unit (from 3) now. Buy break of 1.1122 and also on setbacks.

Taichiseal said...

+1.1128 (long 2 units now)

jeffwarbus said...

Thanks TS! Appreciate you sharing your thought process. Periscope breakout is one of my favourite signals.

Taichiseal said...

Yes. Periscope

= Long period of consolidation + sudden strong break

= change in fundamentals/market perception + plenty of people still caught with stale old positions the opposite of the breakout direction

= fresh momentum

Taichiseal said...


Long position back to original 3 units now.

Taichiseal said...