Feb 28 2009
Usd/cad first target hit before the weekly close..
Now this was what i was trading as you can see in the previous posts
I said i would trade a breakout of the triangle …
The breakout occured to upside where i loaded long and put the first target as you can see my yesterdays post
the target was put at 1.2750 to be achieved beffore weekly close.
So it did hit as expected
here is chart showing it
Now this is what i call easy pips
trading the breakout with price action is one of the key tools to gather the easy pips for everyone.
Now lets look at DOW
DOW on the opening session on friday fell down to 7034 levels and bounced hard moving back to 7191 levels till afternoon session but regained its momentum to donwside in last session to move back down to 7064 levels ..
7000 Level being a major psychological level we may see a hard fall on its break as we are in downtrend ot we may remain ranging around 7k levels
Main trend is bearish as we all know…
so its time for the weekend analysis that would be posted tomorrow..
see you tomorrow..
