Day trade
Trade view / 30 August 2016 at 14:42 GMT

UPDATE: Rate hike fever did not weigh on GBPCAD

FX Consultant / IFXA Ltd


The original trade idea  expected that US rate hike concerns would drive GBPCAD lower. They didn't.  Instead, GBPUSD rallied as more weak short positions got squeezed while weak Canadian data and soft oil prices lifted USDCAD.

This idea was flawed to start with. The technical and fundamental rationale for the trade was weak and once again, anticipating a move without confirmation proved to be expensive.

The stop loss was triggered for a loss of .0067 points.

Original Trade idea parameters

Sell ½ GBPCAD at market (1.7020) balance 1.7060

Stop: 1.7103.

Target: 1.6830.

Time horizon: 5 days.

— Edited by Martin O'Rourke

Non-independent investment research disclaimer applies. Read more

01 September
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loose some, win more


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