Despite positive GDP release for CAD - oil outlook in short term looks bleak.
US data still more positive than what pundits made out too be by Auntie Yellen speech - where she literally laid down the law on Fed decisions. No more guess work on what the Fed are going to do; its all data from here.
Expecting NFP to kick off head and shoulders pattern before bouncing off MA 200.
Will be monitoring oil futures next week to help support price movements for this idea
- Trade your plan and within your limits -
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Trade triggered just below 1.29 area.
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Expecting a move back down towards 1.29300 area. Will assess whether to add to long position
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Missed opp. to add to position - will wait and see next opp
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Waiting to add small long at 38.2 fib on 1.30600 ~ Getting ready to switch to short
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Small long stopped - assessing whether double bottom will form instead
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I know I am going to kick my teeth for closing this but this pair is loving that downward trend line too much for my liking