Journal

Oil price fueling CAD Pairs, Big moves at forex 20th April 2016

Some late swing with CAD pairs after New York session. It started quite slow but now picked up pace. At the moment of writing this, oil price hitting 43.18$ and continue to go up. Which is perhaps behind massive CAD moves.

I was mentally prepared to close the shop with break even but then this happened.

20thapril cj
Good moves , cadjpy

I actually read the pair as in range. however, since nothing was moving early NY session so i thought i want to take a chance. so i took a market order from a good area with 12 pips stop loss as you can see from above picture (Here i changed my stop loss to secure my loss). I ended up taking my profits at 86.80 which is +70 pips from my entry. Pretty happy with this.

Meantime, i also took eurusd range break out with +20 pips but also lost some pips with gbpjpy and audusd total of -17 pips.

This is the way i trade, lose some gain some. My gains are always more than 3:1 hence i could offset my losses.

Although i don’t pay attention to fundamental much but little change in news helps me to identify which pairs i should keep an eye on.

Thanks for reading.

cheers,

 

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