Today wasn't the usual quiet Monday that I've come to expect. There was a lot of movement on the EUR/USD pairing off the back of the whole Irish bail out. There was an opportunity missed on Eddie early this morning.
Later in the day I unfortunately made a losing trade on USD/CAD. I've decided from now on i'm going to post the hourly and 20 min charts. I think I did that originally but stopped for some reason. Anyway, i'll continue doing that from here on.
Trade 1 - USD/CAD (Loony) - Sell @ 1.0182 - Closed @ 1.0210 = -28
The first picture is of the hourly chart, illustrating the u-high volume in a down trend. I then set my order at the low of a no demand bar on the 20min chart (3 bars after the widespread up). Got taken into the market and then it went the other way. It seemed to continue on to actually hit the trend line on the hourly chart, perhaps this is where the market will now fall. As you can see it has dropped off from the point i got stopped out. I believe it is still weak and will probably drop off over night. We'll see the outcome tomorrow.
Cheers,
KFT
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