Wednesday, January 2, 2013

USDCAD Trendline Long Trade USDCAD Long Trade
On daily charts, price is bouncing from a trendline. 

This trendline is in place since mid of Sep. This trendline has been tested before and price bounced from it every time. 

The trendline is providing a good support. I expect this trendline to hold currently.

I went long right at 0.9864 with stop below 17-Dec low of 0.9830 and targeting 100EMA or 200EMA.

----------------------------------------------------------------------------------------------------- USDCAD Long Trade
UPDATE 4-Jan12: 4:10GMT: Price came so close to my stoploss. 

Trade survived by few pips. Now the trade is in profit and I am looking to close it ahead of the weekend. 

I closed the trade at 0.9890 ahead of the weekend. 

Profit of 26pips.

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