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'Market and Human' Psychology perspectives with tips on how to avoid common mistakes by Pierre Charlebois, Senior Trading Coach at www.TradingPostFinancial.com

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USD/CAD makes record moves

Posted on October 15, 2008 at 9:17 in Uncategorized by Pierre Charlebois

The USD/CAD pair made a record 670 pip move in one day last week. This suggests that  this pair will likely remain highly volatile for weeks to come.

What this means to traders is that this pair should provide great trading opportunities at virtually any time of day in any market. As a trader I know I often have to wait for volatility and need to follow market times in order to be at my trade station when news is pending. However, with the high volatility of this (and many other pairs) we can look for breaks at all times of the day, when it’s convenient for us.

So going forward, use a simple trend-line break technique on the 15 minute chart. Trade in the direction of the break once a candle has closed beyond the trend-line with stops at the previous candle extreme.

Good trading.

One Response to “USD/CAD makes record moves”

  1. on 17 Oct 2008 at 3:39 am1su25

    Hi Pierre

    “A picture is worth a million words” is very apt for your charts!!!

    Thanks for sharing your trading strategy pictorially! Simple yet effective!

    Regards
    su25

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