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Is it time now? Look at USD/CAD uhm..

by Gav Leave a Comment

I am looking at loonies pair. From the daily chart, it forms a pretty nice short setup. A lower high seems to be forming. Btw, this is a Heikin Ashi chart. And recent bullish momentum of USD seems to be flat out. Maybe market is just waiting for the interest rate statement on coming Wednesday?

So what is your take on this? Short? I have a short bias now.

[photopress:USDCAD10Dec2007.JPG,full,alignleft]

Filed Under: Trading Journal Tagged With: FX, Trading Journal

Reader Interactions

Comments

  1. Hector says

    at 9:26 am

    I am personally waiting for the Fed to speak up before searching for long-term USD-weakness positions in case there’s any surprise in the announcement. I paricularly like USDCHF.

    Reply
    • Gav says

      at 9:29 am

      Hector: Yup, I am watching USDCHF as well. Another nice short setup. But well, adopting my chicken style of trading, I am waiting until Fed announcement as well. ๐Ÿ™‚

      Cheers
      Gav

      Reply
  2. Hector says

    at 7:26 pm

    I am personally waiting for the Fed to speak up before searching for long-term USD-weakness positions in case there’s any surprise in the announcement. I paricularly like USDCHF.

    Reply
    • Gav says

      at 7:29 pm

      Hector: Yup, I am watching USDCHF as well. Another nice short setup. But well, adopting my chicken style of trading, I am waiting until Fed announcement as well. ๐Ÿ™‚

      Cheers
      Gav

      Reply
  3. Hector says

    at 9:30 am

    Chickens on the loose!

    Reply
  4. Hector says

    at 7:30 pm

    Chickens on the loose!

    Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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