The recent slide in WTI pricing has not been kind to the Canadian dollar. However, last week’s hawkish move from the BoC has helped the Loonie hold its own against the USD.
Today's bullish pressure may bring a short from just beneath topside resistance near the 1.3200 handle into play. Here is the plan:
1)Entry: Sell 1.3196
2)Profit Target: 8-12 pips
3)Stop ...
Its a super tight Stop right now (around 5%). If this thing sparks upwards momentum it can run a good 50% relatively fast.
Entry below 0.000465
Target 0.0007
StopLoss 0.000365
For The Win
Price failed to break the 0.23 fib (1241.357) level which is was also a previous resistance level now turned support. Slow stochastics are now indicating that Gold is moving out of an oversold position. Got a tight stop in case we drop to the 0.50 Fib (1220.185) leading into non farm payrolls this Friday.
If you're going for a Long/Call position then you may want to consider putting a tight stop loss at around 30.30 where the red line is. This is just an idea so I won’t post updates here.
In the morning I will be watching for a green to red for another short opportunity, but careful because if it gaps down then could be a long opportunity. Keep stops tight!
