USD/CAD - Careful
I've seen quite a few people doing analysis on USD/CAD on the 4 hour charts etc
Just my 2 pence.
Read chart and assess what is happening. Remember, this is a long-term bearish instrument
Also: I am looking into this instrument on the Weekly timeframe, and have spotted a very promising trend reversal.
Could possibly place an options trade on this (Call - going Long, to a take profit of around 1.3 possibly.)
Providing USD/CAD does stay above 1.262, and reverses. (This could take place by next week)
Long-term however, you need to wait for a good opportunity to arise, before you decide to make a position.
I personally, would wait for a decent decline, and a trend reversal, and trade the trend reversal, after a consolidated zone.
However, this is just my trading style.
-Divit-
Just my 2 pence.
Read chart and assess what is happening. Remember, this is a long-term bearish instrument
Also: I am looking into this instrument on the Weekly timeframe, and have spotted a very promising trend reversal.
Could possibly place an options trade on this (Call - going Long, to a take profit of around 1.3 possibly.)
Providing USD/CAD does stay above 1.262, and reverses. (This could take place by next week)
Long-term however, you need to wait for a good opportunity to arise, before you decide to make a position.
I personally, would wait for a decent decline, and a trend reversal, and trade the trend reversal, after a consolidated zone.
However, this is just my trading style.
-Divit-
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