Got greedy on Friday and bought CAD against CHF and EUR. The result: -9%. The problem is that I'm far away from what should have been a confirmation to enter the trade. As I said, greed is my thing.
Things I think about:
- Oil (still see nothing to formulate a bullish scenario for CAD, yet nobody does, which is bullish).
- CADCHF (I have technical reasons to believe there's a reversal around the corner on the weekly charts).
- EURCAD (I have the technical reasons plus everything else in the medium term).
- As I trade stocks, I guess equities are set up for a bullish momentum in the short term and then go bust in a sharper correction than the last one. For now, beside the FED story, prices were mostly driven by Crude's fall. If technically that's correct, does it mean that Crude is gonna make a move? Screw the fundamentals (in the short-term), there are lots of events that can accomplish this. If all this happen, my long on Loonie does not look so helpless. Anyway, have I got it wrong, I'll trim down my positions and wait the hubris to fade away before taking further action.
Russia-Turkey boat shot = good for Oil (CAD)?
Saudi Arabia's deficit (~$133 billions/20% GDP) made officials envision structural changes for 2016, as oil's low price may be the new normal. Question: what's low price? $20-$35 or anything under $70.
What about Canada? Can they stand low prices as the Saudis are ready to?
Things I think about:
- Oil (still see nothing to formulate a bullish scenario for CAD, yet nobody does, which is bullish).
- CADCHF (I have technical reasons to believe there's a reversal around the corner on the weekly charts).
- EURCAD (I have the technical reasons plus everything else in the medium term).
- As I trade stocks, I guess equities are set up for a bullish momentum in the short term and then go bust in a sharper correction than the last one. For now, beside the FED story, prices were mostly driven by Crude's fall. If technically that's correct, does it mean that Crude is gonna make a move? Screw the fundamentals (in the short-term), there are lots of events that can accomplish this. If all this happen, my long on Loonie does not look so helpless. Anyway, have I got it wrong, I'll trim down my positions and wait the hubris to fade away before taking further action.
Russia-Turkey boat shot = good for Oil (CAD)?
Saudi Arabia's deficit (~$133 billions/20% GDP) made officials envision structural changes for 2016, as oil's low price may be the new normal. Question: what's low price? $20-$35 or anything under $70.
What about Canada? Can they stand low prices as the Saudis are ready to?