June Trade # 15 - SELL USD/CAD

June 10, 2009 4:14 pm (Manila)

2nd half is out at +78 pips/lot for a total of 156 pips. Took out the second half when the pair started to bang on the lower band of the bollinger band.

Summary for this trade:


1st Half: +60 pips
2nd Half: +156 pips

Total: +216 pips

Yahoo! Another great trade!

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June 10, 2009 1:57 pm (Manila)

Limit 2 is hit at +30 pips/lot for a total of +60 pips. Trade is now risk-free as 2nd half stops are moved to breakeven.

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June 10, 2009 8:11am (Manila)

SELL USD/CAD @ 1.1041
Stop - 1.1099
Limit 1 - 1.1011
Limit 2 - 1.0936

Fundamental:- At 8:30 pm (Manila) today, Canadian Trade Balance will come out which I expect to be positive for the CAD.

Technical: Pair failed off 1.1063 (20-period MVA on the hourly chart and 38.2% fibonacci).

For further details, see my post on GAMEPLAN for June 10.