Monday, August 23, 2010


USDCAD is at the top of the weekly triangle and it's possible the pair will move down to 1.0160 which is the uptrend line. It's also possible that it will break above and resume a longer term uptrend from late 2007. Short term behavior is encouraging that it will break upward but of course one must consider the ever dwindling liquidity in the August market.

Here's the weekly chart:

© 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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