Trade Review: USD/CAD

Early in the morning, before the US markets started trading we saw a spike in the pair. It triggered the short entry order at 1.1150. Unfortunately, the 30 pips stop wasn’t enough to weather the whipsaw. Actually it wasn’t enough by 3 pips!!! Doh!!! After the stop out, the pair dropped back down to hit pt1 and pt2. What a frustrating trade! But we’ll just have to review and learn, and hopefully we’ll take new knowledge away from it.

Lot 1: -30 pips

Lot 2: -30 pips

Total: -60 pips

On a side note, it is an extended holiday weekend here in the US, so we probably won’t have a Pick of the Day until Tuesday evening at 12:00 am EST (midnight).