Trade 2 Short USDCAD (+37 pips, +193 pips)
The chart shows the set uo for this trade with the blue box the proposed turning point and end of the correction higher, the basis of this strategy is to trade the pullback. The idea here was to sell the pair on entry to the blue box looking for the resumption of the downtrend which is clear at 1 larger degree.
the next chart shows what happened a really good and profitable trade
Trade 1 AUDCAD Long (+58, +58 pips)
Set up for this trade was developed on June 30th and went live on July 4th. It followed the strategy exactly buying on entry to the inflection point and taking profit when half of the wave had re traced for 58 pips. With important news due out i moved the stop loss on thesecond half to 58 pips also and that was hit as the trade came down following the Bank of CAD rate decision. A total of 116 pips a pretty good trade. The chart shows the 50% line which is the partial profit target and the blue box marking the projected turning point of the trade.
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