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Friday, 7 October 2016

Technical Analysis of USDCAD For Your Learning: 7 October 2016, Friday, 3.07am Singapore Time


Technical Analysis of USDCAD For Your Learning: 
7 October 2016, Friday, 3.07am Singapore Time

Attached above is the USDCAD Technical Analysis for your learning.
Refer to the previous live analysis in August as below when the trade was taken:
http://donovan-ang.blogspot.sg/2016/08/usdcad-technical-analysis-17-august.html

It was a confident trade (shorting on main downtrend for this currency pair) so positions were heavy.
I am exiting and taking losses of half the positions on USDCAD today.
Reasons as illustrated on chart (Risk Management). The treacherous backtest of the black resistances are quite relentless, hence the risk management decision. I am keeping the other half positions because the black resistance is still providing successful suppression on prices.

Above are the losses in (CD) Canadian Dollar (CAD).
Below are the losses converted into (SD) Singapore Dollar (SGD).


Losses in this mid term trade:
- S$ 122,921 SGD

Cumulative:
S$ 1,752,372 - $122,921
= + S$ 1,629,451 SGD

Trading Journal:


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