Will this be a successful trade?

[fxtrader777]

LOL
I went long seeing this price
Also on 1hour chart bollinger bands went out from the ketler channel, on daily there is supporting signal too.
Entered with half lot

LOL partially it is Casino what I did today

[popoola]

Your analysis has been proven to be correct. The market is rising as we speak. Where you exit now is the question

[astro]

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 pair: 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 and wait for a breakout and 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

[fxtrader777]

well I had opportunity to take 30 pips but did not do that, I am not a scalper,

Let's see on daily what is gonna happen, I will take at least 70 pips

[astro]

Well, look what's happening today.
Exactly what I was talking about yesterday!

Loonie is ranging in a narrow range... => let's wait for it to break out and pull back before taking a position.

It would be best if it happened on the first 2 hours of the London session, but this setup works well almost any time, so I'll take it anyways.

Astro

[astro]

It's 11:30 gmt and price is still contained whithin the range.
Is the BOC interest rate statement gonna surprise us?

[astro]

OK, price has broke the range high and created an inverted hammer.
It's now 15 min before US session open, and idealy I would like to see 1-2 pullback bars before getting the signal to get in.

Astro

[fxtrader777]

Yes but I am stil in
Hope US session will bring volatility