Stop: 1.3631 (43 pips)
Target: 1.3434 (4h50, 154 pips, 3.58 RR)
Mindset: Relatively comfortable
I’ve been staying clear of USDCAD lately; the charts are really choppy and I felt they were difficult to read. However, trading mechanically, I have elected to take the trade. The RR is good and the volatility has picked up so we could make a quick buck!
I did this at lunch so didn’t get a chance to screenshot my charts. I did screenshot my ticket to help me blog this later, so here you go.
I can see this going either way, as usual, so we’ll see how it goes.
Stopped out overnight – 27 Apr
Didn’t go my way, again trading lots of different markets means I’m more subject to getting bigger runs of losers and winners. So not much to say on this trade. I don’t think I did anything wrong, just one of those things. The move in my direction was ultimately a good one, so unfortunate with timing and entry.
On to the next trade … which might very well be USDCAD again! The daily chart is setting up to go short now. We’ll see if the bar closes inside the bands and I can get a good entry tomorrow.