USDCAD ( and USDAUD) is trying to break the record to achieve the smallest day range. Yesterday's day range was a tiny 30 pips. Trying to achieve reward : risk ratio of > 2:1 is going to be remote. Who knows, today it might try to break the record again.
yesterday its day range was rather tiny at 40 pips. GBP was much more trendy as there was a major news announcement. As t was big news, everybody was monitoring it very closely. And its day range was 3 times more than CAD at 130 pips. Other than that there were hardly any forex trading opportunities.
A thorough review of the market and an analytical approach to trading will find an opportunity to control the situation.
On January 22nd you wrote that you "have several good strategies" that you "have been using to generate signals and make money." But last Tuesday you wrote that "…we will have about 3 signals each month, depending on the opportunities I get from the market." So then, am I to take it that the "several good strategies" you have typically highlight, on average, only about three signals per month? You also wrote: "You will get many such signals from 22/01/2021 here at Elite Trader… Just give me two weeks and see how we will progress within that time." Am I to therefore gather that this has now changed, that is, unless you view three signals per month as "many…signals." As I'm reading this, I'm afraid it might come off as being sarcastic. But I hope not, because this is not my intention. I'm just wondering if I misinterpreted things from the get-go, or if it's that you're deeply engaged in an evolutionary process of developing your approach to trading rather than simply executing what are already well-established strategies. In any event, good call on EURUSD! For me, confirmation of an upturn came as soon as the rate cleared 1.2052. However, at 1.2117, I’m now watching for the pair to head south again (or perhaps to simply tread water between 1.2022 and 1.2168).
This is where I pocketed the profits from my short position. UPDATE: With the way EURUSD has bounced back, I'm going to be looking to short it again...