Well I don’t have enough posts to throw this in the contest. So here’s my practice run.

Chart: USD/CAD 4H
Long or Short: Short
Entry Point: .9805 (1/2 position) and .9850 (1/2 position)
Stop Loss: .9890
Profit Target: .9735

Trade Explanation: .9805 and .9850 are both historically strong support levels (psychologically and technically) and the upward bull channel from the .9630 low has been broken. .9805 is also the recent 50.0 fib level. Fundamentally, the CAD should continue to gain against the greenback as we continue to see north american job, housing and manufacturing numbers improve. The US bond buying should depress the USD while the continued slow recovery increases demand for US imports (i.e. increased Canadian manufacturing and commodity exports).