UPDATE: Squeezing blood from a stone in USDCAD
This was a poorly executed idea. The original trade idea anticipated additional USDCAD selling from the rise in WTI and the break of key support in the 1.2740-70 area.
That happened, but it happened as I was writing the trade idea and like a rank amateur, I chased the move lower managing to sell at the low of the day. Because of that, I ended up putting the stop at the wrong level. I was punished for my sins with a 0.0085 point loss.
For the record, if you are short in the 1.2690-1.2720 area, the correct stop loss (in my opinion) is above 1.2772). I believe that USDCAD is heading back to 1.2462 (unless 1.2772 deals)
— Edited by Michael O'Neill