#OPINIONLEADER# 10:19 30th April 2021.
I thought I'd update the post I made yesterday recommending a SHORT EUR/CAD trade. This trade is progressing nicely in fact I've added a further SHORT position. I believe that price should head back to 1.4740 area so we have another 100 pips of travel. Its important to let your winning trades run. A common mistake novice traders make is to see that the RSI and STOCH (in this case) are oversold and close out the trade. It may well happen that we see price reverse from these levels but the reversal is likely to be short-lived as the BEARISH structure is firmly in place. Should we see price move sideways for several hours and then start to edge higher, this may be the time to consider closing out but my 1.4740 target remains for the time being.
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