Trade Management Update: USD/CAD
The Bank of Canada is due to release their monetary policy statements at the top of the hour. If you capitalized upon yesterday’s short t
The Bank of Canada is due to release their monetary policy statements at the top of the hour. If you capitalized upon yesterday’s short trade in the USD/CAD and still have an open position, it is time to limit risk or take profits.
This trade is 40+ pips in the green, I recommend the following actions going into this release:
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Take profits now
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Move stop to breakeven
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Implement a trailing stop on the position (move stop to lock in some profits).
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