USD/CAD (Long)

This morning there was a glitch in the system of POEMS. Shortly after lunch, they resolved it and I got into half position at 1.2399. I have a stop loss at 1.2289 and a profit target of 1.265. With some luck, I may see the pair zoom up and I will adjust my profit target further to 1.3. Let's hope the first long position of this blog will make as much as my previous GBP/USD position.

Update 1
The pair dipped a little after my entry in the afternoon but soon regained momentum following news of more bailout for English banks. The pair is trading at a comfortable level of 1.256. I adjusted a little to bring the stop to levels after my entry so I do not suffer unexpected losses. Let see if I can squeeze more pips outta this trade.

Update 2
The Bank of Canada announced a rate cut of 50 basis points which was in-line with what we had expected. I took my profit at the original intended level of 1.265 and made a neat profit of 250 pips this time. Not bad at all for 2 days of work. I be following NZD/USD for the rest of the week because the Reserve Bank of New Zealand will also be carrying interest rates cut.