As the U/C retraced yesterday last weeks low was where I posted to look for a DB. As that bottom was formed an opportunity came to enter a long trade ahead of BOC rate decision hoping for Cad weakness and Trumps first days as president hoping for USD strength. After today, should the U/C rally more, the stops can be moved into profit only zones in hopes to get into the target zone of 38.2-61.8 as highlighted in my earlier post for ‘U/C on the Radar’. Monday this pair did make a higher high but there was no good entry was given so no trade was taken. Now if the 21-55 macd can rise above the ‘0’ line in a 2nd attempt then this move may have a better chance to get into the higher zone to look for a longer term short trade plan as long as the daily 21-55 stays below the ‘0’ line as highlighted in the earlier post as well.
Lets see from here how it plays. Anyone Trading This?