Forex Trade Updates: NZD/CAD and USD/CAD

You win some, you lose some! I got stopped out on my NZD/CAD short forex position but my USD/CAD long trade is doing well so far. If you haven’t yet, make sure you take a look at my initial trade ideas for NZD/CAD and USD/CAD first.

Come to think of it, I’ve had a small hedge going on for these plays since I wasn’t too confident about my Loonie bias. As it turns out, weak oil prices were still very much in play, even with the slight bounce early last week. With that, my NZD/CAD position got stopped out just as quickly as it had gotten triggered.

NZD/CAD 1-hour Forex Chart

NZD/CAD 1-hour Forex Chart

Meanwhile, my USD/CAD trade is still trudging higher and is almost at my initial target at 1.3500. I’m still a bit bummed out that my second entry order didn’t get hit and I missed the chance to add to my position at 1.3200, but I’m pretty happy with how this setup is going.

USD/CAD 1-hour Forex Chart

USD/CAD 1-hour Forex Chart

I’m considering trailing my stop for this one but price is still a little too close to my entry. Keeping my fingers crossed that this setup turns out to be a winner, even if I just risked a small 0.25% position.

Got any comdoll setups you’d like to share?

Cheers,

Happy time

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