While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
USD/CAD…is retesting it’s chart break out from Oct 24th.
Canada is a low risk sale with a manageable exit.
USD/CAD would need a close under 103.75 (over app 96.36 Futures) to negate the sell pattern.
As long as the Futures remain under 96.06 (the Opening range) it should be on the defensive all day.
Raise the protective sell stop form 71.90 to 72.57 (entry level).
This has been a nice trade. We’ll leave the remaining 25% alone with a break-even stop.
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