moneyAfter a few frustrating weeks of churning water and not getting anywhere I switched focus to CAD. First trade of the week of any meaningful size set the tone for next few days. Right of the gate EUR-CAD made some nice pips and I decided to stick with CAD for “heavy” trading, as far as my accounts go.
Basically, my line of thinking was that CAD should take a rest after that great run over last couple of months. More about it later. So I was in and out most CAD crosses all week long with very good results. Here is another one, AUD-CAD, which I rarely trade, as the spread here is not very attractive on the platform available to me.
But I did miss GBP-CAD run, I thought it was over extended, yeah, right.
Our website has been updated and can be seen here. Trades in our services were also heavily skewed toward CAD and CHF trading, so the results were good.
I was also very happy to see CHF snap out of a sleepy mode and stage a run of it’s own. This time I didn’t miss the interaction with GBP.
I had to postpone my vacation for a week so as is now, I’m leaving on 07.14 and be gone 2 weeks for sure and maybe even 3.I need it, too. Or maybe I’m just telling myself that to justify goofing off?
What’s next for CAD? Not that I “know” any more then the next guy, but at this moment I think we’ve seen the extent of CAD bull. The last two times there were important turning areas in this currency, they turned out to be protracted affairs, where previous tops/bottoms were tested number of times.
If, and that’s a big if, something like this repeats itself, we might be stuck in some 300-400 pips range for weeks. That should provide plenty of opportunities for rather fast 100 pips or so moves off 1h and 4h charts. Of course, markets don’t care what I think and they will do what it is they do best- confuse us and me in particular.
Husar.
