CAD has finished its own retracement and is now very near the recent low at 1.0785. Decision time? I traded it down all last week and'm going careful for the beginning of next week, however if the pace of dollar weakness picks up following week, then we can see another powerful move south. Not certain what will occur, and will follow PA..
Waiting for it to develop, although looking at a trade about the CAD. Would go after another surge south and on a fantastic break north using a first goal take profit price of 1.0850. The trade will make the most of this potential upcoming move to square up at greater rates.
Now watching the GBP/$ to the next surge, which might be south when it determines to square the 1.6820 degree, and then return to 1,6760. On the other hand, the trend is still up.
Long the E/J at 136.83, now shielding the entrance price
Edit: Now shielding 136.93
Edit: Can take profit at 137.32, also have moved protection to 136.88. Want a rest of 137.13 before 137.50 is in sight. If I get stopped out will remain on this for its opening into 137.50
Edit: 127.13 still comprising the up move; shielding 136.93
Edit: 137.13 has been broken into 137.20 but must see a close above 13
Edit: Square at 136.06, and will wait to hit a long position if scenario presents
Time to take a rest. Are in trades and netted about 6% on my margin account so much today. The basic idea behind my trading egy would be to risk no more than 3 percent on each transaction and attempt to hang in for twice that amount. I like to get a start to the week and am usually careful on Monday's. Back in about 20-30 minutes.
Only finished chart work and am in the $/Y in 94.92 and have been in for about 45 minutes now. Protecting entry price as I complete analysis. Back later.