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Tag Archives: CAD
Paper trade: Short AUDCAD @ 0.9583, Stop 0.9670
Gold price made a 15 point jump over the weekend to 1160 and is consolidating now (Fig. 1). Crude oil tested 84 and is back down to just above 83 now. Yet, AUDCAD is still struggling to break above 9600 (Fig. 2). You would have thought that AUDCAD should mustered enough momentum to break above [...]
Paper trade: Short AUDCAD @ 0.9489, Stop 9540
I’ve been stopped out of all my Aussie shorts on the breakout today. But my setups for AUDUSD and AUDJPY are still intact as the resistances are still safe. Having failed so many times in shorting AUDJPY (first try, second try), I am taking a conservative approach on that particular play. Although those setups are [...]
An introduction to my Forex Trend Continuation Setup (FTC)
After many trials and errors with paper trading the forex market for a month, the first of my trading setups is finally taking shape. So I would like to document this approach here after a well executed trade this week (illustrated below). This trading setup is based solely on technical analysis. Here’s an overview of [...]
Posted in Aussie, Kiwi, Loonie, Trading Signal Also tagged entry, exit, FTC, good trade, JPY, paper trade Leave a comment
Paper trade: Long USD/CAD 25% @ 1.02988, stop 1.02080
This log is written about 18 hours after the entry. I entered long USD/CAD at the market last night for a 1/4 position size. USD/CAD took a brief run up of about 100 pips. Naturally, I moved the stop to just above breakeven to make this a risk-free trade for over the weekend. I entered [...]
Paper trade: USD/CAD long 1.07426, stopped out 1.06999 (-42.7 pips)
I went long USD/CAD this morning with 1/3 position when we bounced back up to 1.0800 and then retraced to 1.075. It was stopped out about an hour and a half later. In hindsight, this was not a good trade for one major reason. I should not have gone against the short-term trend on a [...]
Paper trade: USD/CAD all out @ 1.0872 (+196.6 pips) and 1.0821 (+145.6 pips)
USD/CAD made a quick run to 1.10 and retraced back down to 1.08. Since my entry at 1.06754 almost two weeks ago, there’s been both run-down and run-up as I have noted. Although this trade turned out well with an average paper gain of 171.1 pips (see stats below), one thing that I’d definitely need [...]
US Dollar vs. Canadian broke above resistance after FOMC and before G20
In one fell-swoop, USD/CAD gained about 200 pips in mere minutes today (Figure 1) after the FOMC meeting. With the G20 meeting going on this weekend, there’s going to be some expected volatility. However, a bright spot in this is that USD/CAD has broken above a trendline as shown in Figure 2. This is a [...]
My name is Paul and I am a full-time engineer, part-time trader. Back in 2000, I deposited my $5000 interest-free student loan with an online broker. Since then, my interest in trading has become an obsession.
Why I shorted CAD/JPY @ 88.57 instead of long USD/CAD @ 1.0251