After CAD interest rate hike by 25 basis points BOC (Bank of Canada) governor Poloz press conference and no follow through, it seems a good opportunity to sell CADJPY.
But we must never forget that we are also going against the fundamentals so I will risk like the previous trade half the size of my usual risk with a tight stop. I really don't know why I like to trade against CAD after a rate hike, I guess something fishy might be going on with this hike :D
I sell now and also have put another sell limit pending order higher shown in the chart.
Let's see what the future holds for us.
But we must never forget that we are also going against the fundamentals so I will risk like the previous trade half the size of my usual risk with a tight stop. I really don't know why I like to trade against CAD after a rate hike, I guess something fishy might be going on with this hike :D
I sell now and also have put another sell limit pending order higher shown in the chart.
Let's see what the future holds for us.
Comment:
Sell limit#2 is activated.
Trade closed: stop reached:
Sell#1: -31 pips
Sell#2: -18 pips
Sell#2: -18 pips