I will not take a trade on the CAD

The CAD went right down to the expected support. It seems to be still following my trend lines, but we have had a couple of lower highs. And the last bounce only took us up to about 1.0564. So this indicates to me we are just going to go lower and lower, but we have no proof to back up this new behavior. Now I have no good idea where resistance is going to be or when support is going to give way. These are the reasons I will not take a trade.


Wait for PA to indicate a reversal, showing youre bottom channel support as still holding, then take it? :slight_smile:

Hey Sketchie,

I waited until Wednesday to take the long. My entry was at 1.0333, but got stopped out at 1.0315 :frowning:

Haha I was stopped out as well. Ah well. :confused: I had a similar set up on the USD/JPY that worked out well. :slight_smile:

And its above 1.0400 now. Tricky pair, this one.