Sunday, October 9, 2016
EURCAD - Closed with a Loss - 0.8 percent
EURCAD longed, but got stopped out due to NFP turbulence. Money Management Practiced, less than 1 percent loss.
1) Reasons for Long - CAD weaker due to oil dropping off the peak at 50 dollars plus.
2) Blue algo trendline.
3) Parabolic sar shows buy signal.
4) Eurousd in a channel, seemed to be reliable.
Post trade analysis;
1) put stop at algo trendline.
2) reconsider following the arrows at 4h close
3) plan for 2:1 rr.
Lost about 0.8 percent. No big deal really.
Note: Post trade checking of EURCAD shows I would have been kicked out too. So no big deal.
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