UPDATE: GBPCAD is searching for a new floor
A slightly more hawkish Janet Yellen on Friday and thin, holiday markets led to GBPCAD gains in Asia which triggered the stop loss.
The timing of this idea was bad. The holidays in the UK and US today sucked liquidity out of the market while month end portfolio rebalancing flows suggested GBPUSD demand which appear to have born fruit.
The failure of GBPCAD to break below support in the 1.8980 area was an important sign that this idea may go pear-shaped and it was ignored resulting in a loss of .0097 points
Note: the second sell order was filled.
Original Trade idea parameters
Entry: Sell ½ position of GBPCAD at market (Currently 1.9006) balance 1.9080)
Time horizon: 5 days
— Edited by Clemens Bomsdorf
Non-independent investment research disclaimer applies. Read more