Monday, November 05, 2007

CAD/USD futures short

Back from a one week vacation, where I was reduced to watching the markets on the IB Webtrader, as my hotel did neither allow direkt nor VPN connections. So I made just one small CAD short trade for a +20 on Friday, when CAD hit my extreme target at 1.0715.

This morning I took CAD short at 1.0704 after it was rejected at 1.0715 only to see it going up again. But extreme is extreme and with other majors doing less good against the USD and that 150+ spike upwards on Friday in CAD I see just limited upside in CAD for the time being.

Take a short and add to it either at 50 tick intervals or on a retracement from a possible top. 1.0754 wasn't hit (the high was 1.0748), CAD bounced from 1.0731 and failed, so I added at 1.0724 in a falling market. Exit at 1.0699 for +30 on the trade.


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