CAD-Looking to trade against it

27 Okt 2022

CAD has a positional power ranking of -5.5 so I will be looking for possible shorts going into NY. Keeping a close eye on CADJPY, EURCAD, and GBPCAD. There is a rate announcement for EUR @ 815am NY so things can get really wonky there so have to be mindful of that. Not sure I'll trade the news or not as it depends on what I see the moments leading up to it. If I see my entry move on EURCAD or GBPCAD before EUR rate announcement news, I'll take it, but I won't force anything and to be honest, I hope I don't see my entry move before the rate announcement lol. As always premarket analysis is only as valid for as long as things remain in proper structure. I do have my eye on other pairs such as dollar, but I am probably going to highlight one pair a day for as long as posting interests me lol.

27 Okt 2022

Catatan

When I say shorts, I mean trading against CAD. Some pairs you have to long, others have to be shorted, but the key thing is placing bets against CAD.

27 Okt 2022

Catatan

EURCAD has invalidated itself with closing below that solid pink line. My motto is if price closes below said pink line, there is something else better to trade.

27 Okt 2022

Order dibatalkan

CAD didn't cooperate and invalidated itself. It had the look, but the look is only what gets me interested. Unfortunately, it ran the other way which is fine. This is why you have to be disciplined and realize there are multiple parts of trading. It only costs me 6 pips which is nothing. Onto the next!