NZDCAD Short: Great R/R Ahead of CAD GDP @ 12:30GMT

When heavy news is pending, sometimes I like to get into a pair and set my SL to BE in order to let the news remove my risk or send it in the direction of target. Here is a great technical setup which exemplifies this strategy. If CAD GDP comes out stronger than expected, I expect this pair, which is already showing weakness, to continue to drop. Then, at 19:30GMT, Poloz is scheduled to speak which may create even more volatility in the pair. For short CAD, I'm looking at GBPCAD long. Cheers

Trade active

Trade closed: stop reached:

I've closed NZDCAD and kept GBPCAD. Big targets north for the pound.