Get started
RichardEdwards

Short USD/CAD

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
RichardEdwards Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Chart Patterns Fundamental Analysis
0
0
chartpattern fundamental
Have taken a short position at market based on USD weakness. Really need a break below 1.3000 to see this position open up to the downside.

Don’t have a clear bias for the CAD but favour risk on sentiment which would benefit the CAD in general being commodity linked.
Comment:
This has really gone against me. I have left the position to run and we are now looking at a big loss. I have entered another short position at 1.3160 which gives me an average position of 1.3100.

Fundamentally I can't see why this has gone against me I must just have entered at the lows without a strong enough catalyst to move lower hence a sizable retracement.

If we break above 1.3200 then I may be in trouble and looking at a big loss.
Trade closed manually:
Closed both of the positions at 1.3107 for a £1 loss on 07-09-2020 at 10:38.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.