Trade Review: USD/CAD

pcpreview.ff.png

Man, did anyone see that US Dollar sell off coming?!? Traders everywhere, including myself, were expecting a muted trading session due to the US and Japanese holidays. We had a range strategy in the works for the final pick of the week before the holiday, but it was stopped out as the US Dollar sold off sharply in the low liquidity environment. The huge sell off was reportedly due to order flow as stop loss orders were triggered and not for any fundamental reasons. This was another case of the market doing the complete opposite of what was expected. A painful lesson learned which goes to show how unpredictable the market can be.

Lot 1: -20 pips
Lot 2: -20 pips
Total: -40 pips