Wednesday, May 31, 2006

USDCAD trade. Month end profit.

Noticed an engulfing bullish candlestick forming at 1.0940 on the usdcad (thought I'd taken a screenshot - but can't find it!) . If you look on the chart above, which is actually taken after my exit., you'll see a bullish candle open lower than the bearish close but then start to 'overtake' the open of the previos candle. A true engulfing candle would have opened lower but then closed higher than the previous open - which this did not.

However fortune, in this case, favored the brave and I was rewarded with a 34pip gain eventually cashing out when the spinning top appeared at the far right of the image.

This months results are a total of 17.5% profit for the month of May. I'm very pleased with this and shall continue to refine the strategy I'm using at the moment. I am however going to open a demo account on another platform to test out some other trading strategies. I shall of course keep everyone informed.

Good Fortune - Cash

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