Inside the Currency Market: EUR/CAD

Last evening trade. Long from 1.4814 saw Dead Stop 1.4962, Target 1.4894, + 70 pips further on long trade and 148 pips on the long trade total. Only 2nd time in 150 trades a big Target miss. This trade was scaled at 80/ 40 for 120 pip gain, but we saw 68 vs 34 and actual 148 / 74. Short reverse saw 1.4888 not 1.4854 as anticipated. EUR/CAD did a top of the serious overbought channel deal on us. And it took 8 hours to get this trade done overnight. 2 rare events, top of the channel and length of time. Normally our profits are seen and done in a few hours Maximum.

EUR/CAD. Bottom. 1.4878. Range break above 1.5039, Below 1.4867. Overbought sell point, 1.5035 bumps against range point. Strategy. Longs above 1.4954, Target 1.5035. If target, reverse short to 1.4956 then 1.4947, 1.4937. Points on the way up,1.4962, 1.4979, 1.4997, 1.5016, 1.5035.

Shorts below 1.4953, Target 1.4916, Points on the way down, 1.4947, 1.4937, 1.4928, 1.4920, 1.4915, 1.4896, 1.4878 Bottom.

Brian Twomey Inside the Currency Market, btwomey.com

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