Saturday, June 5, 2010

Possible trades on Monday?

There are 2 trades that I may take on Monday. First is the CHF/JPY. Price has broken through the trendline and also the 79.00 area. But the stop loss may be too wide if I were to put it above that long candle. This time, if I'm taking this trade, I will try to trail it as far as possible that's if price does go my way.

The second pair I'm watching is the EUR/CAD. The reasons being, price has pierce through 1.2600 and the pin bar looks not too bad. It may be good for long but if I'm taking, I'll take it with extra caution since it's against the trend.

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