The Home of Support and Resistance Trading. Looking to Buy USD/JPY. Resources For Forex Traders. USD/CAD: Day Trading a Possible Reversal - Trade Canceled. Trade Canceled: 2012-04-03 00:04 Thank goodness I stuck to my trade plan and avoided getting chopped up by USD/CAD’s price action last Friday.
As I mentioned, since this was supposed to be a day trade, I’d cancel my open orders if my sell stop order doesn’t get triggered on the same day. Good thing my fingers were fast enough because USD/CAD actually dipped to my entry area later on before bouncing back up and hitting my stop. I think that was around the time the U.S. printed a weaker than expected initial jobless claims report, which triggered some safe-haven buying.
For now, it looks like the range on USD/CAD is still holding but I might have to look for other setups to play instead. Got any ideas you’d like to share? EUR/USD Forex Forecast Reviews. Currency Trading.