The $USDCAD or The "Loonie" as it's called has been just that for me this year... Loonie. Due to the vast differences in overall trend direction based on what timeframe you're looking at, I've had a very difficult time getting a read on this pair & making any type of longer-term projection,
With that being said I do have a shorter-term projection on my radar & that would be a pullback into previous structure, followed by a retest of the highs & a potential extension up to the 1.3600's level.
Unfortunately, due to the directness of the most recent move higher, it's difficult for me to determine a quality level for entry which also has the protection that I desire for my stops. Therefore I will be taking a very cautious approach & waiting for the market to provide more confirmation that usually before deciding whether or not to get involved.
It's been a slower year of trading for me thus far only firing off 26 trades (I typically average about 20 per month). BUT that's no reason to become reckless. I've done a good job of sticking to quality trading opportunities only and although my execution numbers are down, everything else is on a good path.
Your Trading Coach - Akil
With that being said I do have a shorter-term projection on my radar & that would be a pullback into previous structure, followed by a retest of the highs & a potential extension up to the 1.3600's level.
Unfortunately, due to the directness of the most recent move higher, it's difficult for me to determine a quality level for entry which also has the protection that I desire for my stops. Therefore I will be taking a very cautious approach & waiting for the market to provide more confirmation that usually before deciding whether or not to get involved.
It's been a slower year of trading for me thus far only firing off 26 trades (I typically average about 20 per month). BUT that's no reason to become reckless. I've done a good job of sticking to quality trading opportunities only and although my execution numbers are down, everything else is on a good path.
Your Trading Coach - Akil
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