Out USD/CAD mean has dropped too far

Well it has certainly been a strange week. My timing has been early on all trades this week. My direction was dead on for crude though. I expect some made a very nice profit there.

I will take +5 plus overnight interest on this one and move on to the next signal.

Buy USD/CAD

I don't often get a chance to trade USD/CAD on the system, but I have to say it is one of my favorites because it is extremely volatile and can range for quite some time giving multiple signals per week when it does range.

This particular signal has a rather poor risk to reward ratio, but I am taking it nonetheless because of the predictablility USD/CAD has displayed in the past.

Close Crude long at 62.25

The mean has shrunk because of no major hold above 62 yesterday. I am taking my crumbs and going flat. Entry 61.70 exit 62.25 +.55

Quick Bounce for Crude in store

I'm not going to stick around on this signal too long. The market is in a clear downtrend on CL. But certainly there is a healthy bounce in store after Monday's opening collapse. Try and buy near 61.66 and take some quick profits above 63.

I have't been updating my trade results as much as I should. The fact is, these trades are low maintenance. Once I enter them, I don't go back and watch the mkt too much. that's what I like about my system. But nevertheless it would be more relevant to keep a running total of the results. After all, this is about making money, and keeping a record of the results.

There is so much news on Crude dropping

I was watching Bloomberg on the Asian session and every single talking head on the show was saying how crude was dropping because of the impending resolution of the Iran-Bristish hostage crises. Not one shred of  wording regarding actual oil flows. A very good time to be a contrarian. Mean reversion to about.. 64.65-65.00 or so...

Short GBP/USD

Finally a Forex trade to chart. GBP/USD is in a strong uptrend the past few weeks but as everyone knows GBP doesn't stay trending very long without a few lightning quick dips. Let's see how deep this one dips.

Gold signals short on Friday