Charles

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About me Trader at a Canadian Fin Inst.
Online Joined Canada
Markets Allocation
100 % forex
Top Mentioned Symbols
USDCAD 75% | 3 GBPUSD 25% | 1
Charles Charles GBPUSD, W, Short ,
GBPUSD: Cable traders happy to be short as UK keeps circling the drain
197 4 0
GBPUSD, W Short
Cable traders happy to be short as UK keeps circling the drain

Don't fight the trend. That simple. You could try to fade a bounce as profit taking is clearly taking place 1.48 - 1.49, but the trend in sterling is clearly down... across the board. The pair just broke to the downside (well, a few weeks back) out of a multi-year triangle. Now triangles, especially to the downside aren't the most reliable of patterns, imho, but ...

Charles Charles USDCAD, D, Short ,
USDCAD: USD/CAD ready to correct 100 bps
175 2 0
USDCAD, D Short
USD/CAD ready to correct 100 bps

The catalyst I'm looking at for USD/CAD taking a short-term break was last Friday's +50k gain in jobs. Price failed to make a new cycle high, and although the uptrend isn't over, caution is warranted. Daily studies show clear divergence with price and price looks to be rolling over as well. Monday (today) saw a close under 1.0280, which pointed to a retest of the ...

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