Trade Review: USD/CAD

September 10, 2006 9:47 PM UTC in Trade Ideas

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We saw a surprise from Canada this past Friday morning as employment numbers came out worse than expected. This caused a rally and triggered our long trade, in which we were narrowly stopped out. Luckily, US dollar strengthening continued and our trade reached full profitability!

Lot 1: +20 pips

Lot 2: +50 pips

Total: +70 pips

This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.

About Pipcrawler

Every day, I try to find what I believe is the best looking short term currency trade setup for the upcoming trading day or week. If you're a forex newbie, it can be tricky trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology behind price movements in the foreign exchange markets, so you can learn to analyze your own currency charts and trade on your very own. To help you understand my trading approach, please read about my trading framework.