We are closing our remaining 50% USDCAD position, which we left open on 22 Oct to take advantage of further move.
WHY? ..... DON'T LET YOURS WINNER TURN TO LOSERS.
Technically, With respect to reading chines candle stick. We got a doji candle yesterday, Today, an inside close candle. Usually the doji indicates just a respite in free falling price action, like we had in USDCAD case since 10 Oct pair is falling like a rolling rock stone. BUT the inside close candle of today on the Weekend has pushed us on defensive mode. So a prudent move will be to close the position which is already beyond 1:2 ratio in profit.
Normally, We wish to let our trades open for 2-3 weeks as far as they are showing signs of progress. But as said earlier, being rigid and stubborn can lead us to where we don't want to be.....
Pair is indicating a small bounce, although on very early grounds, may be 100-150 pips above from here. We will be watching it closely to get another selling opportunity in coming weeks.
As of now all eyes on EURUSD pair...
WHY? ..... DON'T LET YOURS WINNER TURN TO LOSERS.
Technically, With respect to reading chines candle stick. We got a doji candle yesterday, Today, an inside close candle. Usually the doji indicates just a respite in free falling price action, like we had in USDCAD case since 10 Oct pair is falling like a rolling rock stone. BUT the inside close candle of today on the Weekend has pushed us on defensive mode. So a prudent move will be to close the position which is already beyond 1:2 ratio in profit.
Normally, We wish to let our trades open for 2-3 weeks as far as they are showing signs of progress. But as said earlier, being rigid and stubborn can lead us to where we don't want to be.....
Pair is indicating a small bounce, although on very early grounds, may be 100-150 pips above from here. We will be watching it closely to get another selling opportunity in coming weeks.
As of now all eyes on EURUSD pair...
