There may be a long brewing on the GBP/CAD Pair.Earlier today this pair was in the mid 70's and has moved down to the low 70's I'll be watching this pair for an optimized entry near the 71-71 area and my stop will be 200 pips below - If this pair holds support it will represent a very good long. I may be wrong about this as I'm not perfect but keep your eyes on this pair for a bounce - If you are not short and want to play the short sied you will want to limit your risk just above the up-bounces which are about 200 pips per bounce
I have missed the short but will gladly go long aiming for another 1000 pips or so to the 180 level. The GBP/USd pair and CAD/JPY pair will be good indicators of this pairs action USD/CAD is another and EUR/CAD is another :-) Should CAD gain strength This pair may hit new lows so TEMPER your risks and use well placed stop!
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damn, had a 35 pip spread on this last night with FXCM, and it's 25 now but the price has gone up...
ReplyDeleteScooped 1000 pips on that one - I never worry to much about the spreads but I do limit them - When you know price is low make a trade
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