[TW] 5-7-2012 USD/CAD Short by eddardstark

USDCAD 1-hour

Long or Short: short

Entry Point: .9890

Stop Loss: .9920

Profit Target/s: .9830

Reward-to-risk Ratio: 2:1

Risk percentage: 1%

Trade Adjustments: Move stop to BE when price hits .9860

Trade Rationale: I think that risk aversion has dictated market sentiment for way too long. I expect also that the NFP report would come in worse than expected adn have a bearish effect on the dollar.

Very cool. And, to add to what you’ve put here, change your graph to a 4 hour ( same zoom level is fine ) And you’ll see a great declining/descending trendline that crosses almost perfectly at your sell point.

Took the same position but have closed ahead of NFP at 9875. 20 mins to go.

Already the price passed through the stop loss. Now the rate is at 0.9950. But, anyhow, I feel a shorting at this point may grab some pips as the price is at a resistance zone in 4 hour chart.