Thursday, January 21, 2010

USDCAD—at resistance

USDCAD has climbed nicely with my trade from 1.0256 currently up 221 pips. I just took partial profits at +220 pips.

The pair is at resistance at 1.0528. Further resistance is at 1.0580/95, 1.0626, and 1.0747. Support is at 1.0414, 1.0336, and 1.0292.

© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.

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