I went ahead and setup a limit sell on the USD/CAD @ 108.01. I'm attempting to take advantage of any further spike highs that we may have. S/L above 108.6 and T/P @ 107.10 but will likely shut 1/2 of the trade down towards that point and see if we can ride the remainder below.
I really feel this is due for a breakout to the downside. The 108. "top" is holding and there has been no daily close above 107.5
My concern revolves around the lack of lower lows, especially with the horrible USD news we've had this week. The dollar just is not giving in quite yet...
Either way, tight S/L on the trade and we'll try and make it work. Also, I'm stepping up my trade levels a bit, risking a full 2.5% on the trade and shooting for just less than a 5% gain (R/R = 1:2...almost). I've been hesitant to trade full size lately and I'm trying to get over that :)
