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Re: Will this be a successful trade?
I don't trade the loonie usually because it's too volatile (low volume?...).
However there is one setup that I like about the USD/CAD p: once in a while you will see a very quiet price action throughout the asian session range. Price will move sideways in a 20-30 pip range (sometimes even less than 20!) all night long waiting for a kick start!
In this case I watch the loonie wait for a breakout pullback to enter. Usually you will get a very strong trend with price advancing sometimes even 100 pips without taking a rest!
Other than that I don't trade it. Too dangerous for me.
Astro
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