Discussion in 'Forex Trading' started by AMT4SWA, Oct 20, 2008.
Canada's central bank announces tomorrow morning....maybe .25, maybe .50?
sounds like a dumb trade- the CAD and EUR are both oversold. They are likely to rise in spite of eachother, negating any differences that you could trade off of.
Sorry to hear that....worked AWESOME not too long ago!
I always thought the EURJPY was a better trade for what you are trying to do. Trading the EURCAD is like taking a detour through the Yukon to get to California.
If you live in Alaska that would be the route taken.
EURJPY trade already made a huge move (kind of like those wondrous AUDUSD and AUDJPY SHORT trades I was in recently)....I will let that one sit for a while.
BTW, Canada is very scenic!
I know, I live there too.
Took SHORT EURCAD positions at 1.6005 today and also decided to take SHORT USDCAD positions at 1.2190 .....will see how it goes.
EURCAD hit one of my first targets at 1.5700. The USDCAD ran almost 100 pips in the money before reversing (as oil dropped off below $70.00 again) so I had to flatten at 1.2170 (for very minimal profit)..... I have now re-entered the USDCAD SHORT at 1.2300 so I will see how this level holds.
Sold additional USDCAD at 1.2510 and had the remainders of my EURCAD SHORT covered at 1.5850 ...... re-enterd the the EURCAD SHORT at 1.6100 with all the movement from oils drop to new lows in the overnight session.
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