It’s been a one way ticket since I picked this one off on the right shoulder 300+ pips ago.

 

I’ve had a struggle with myself the last few days over whether to take profits / partial profits / or hang in there.  – For the last 3 days we have been hovering around the 61.8% of this years lows to high.

I decided…..after much contemplation and a few glasses of Red ( tipped a glass last night to our friend Mike Paterson ) to close half my positions with the view of adding back to my core short at any future opportunity .

I marked the area on the chart below ( grey 50% 1.2690 ) that I will be watching on any pick up from these levels. I will also have eyes on further weakness . A fall below the near term  lows will also be tempting .

I’ve been reading that many consider the pair ‘oversold’ . ……..I must admit the terms – Oversold and Overbought are not in my trading vocabulary. Reminds me of that old market adage ” The market can remain irrational longer than you can remain solvent “. — And most befitting on this occasion  ………… ” No one ever went broke taking a profit “.

 

 

USDCAD-H4

 

The original chart posted live on entry …….

 

 

USDCAD-H4

Horatio Dubsly

Horatio Dubsly

Collects more scalps than Crazy Horse and newly crowned Bitcoin top calling master.
Philosophy: "Trading rules.....it most certainly does"

Read how Horatio got into trading here
Horatio Dubsly

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