There are so many ways to take targets on this trade and instead of laying them all out I’ll just ask you these questions. Why are you involved in the trade ( or trend continuation)? And (of course) What do your rules say to do?
I know you guys hate hearing that, but hey, that’s the reality of trading. Each of us are different and as I tell my clients, your trading style should match your personality making it fit you like a fine tailored suit.
BIG NEWS OUT AT 8:30 eastern! We’ve got USD: Advance GDP, Trade Balance & Unemployment. This should certainly give us some action early on in the New session so be careful. The underlying market sentiment still looks to be very the USD especially since yesterday’s (lack of hawkish tone) FOMC statement showed little movement before being shaken off my the market.
Yesterday’s USDCAD didn’t go my way and if you’d like to read about it here’s the link to my trading blog. http://tradeempowered.com/the-next-good-trade/
Also it’s Thursday so that means my weekly video is coming out so make sure you head over to YouTube and SUBSCRIBE to my channel, that way you don’t miss it. I’ll most likely be talking about dealing with failing strategies and looking at equity curves…we’ll see. Good luck today traders and let’s ROCK the markets on this wonderful Thursday!
Chief Currency Analyst
Akil@Tradeempowered.com /@AkilStokesRTM /
Forex Weekend Review Videos: https://www.youtube.com/playlist?list=PL3pkGkL2zWpHt7X4ZeT0w0n6hk0C8Lwx1
Check Out The Trading Coach Podcast
Available on all Music/Podcasting Apps