After some serious waiting my trade in CAD-CHF came to a satisfactory conclusion today. Take a look.

I finally got out at 1.0200 or 55 pips profit here. This kind of positions can really test your patience and resolve. Unfortunately, when trading breakouts, either up or down, price will rarely move in a straight line. This kind of price behavior is mach more common. Statistically speaking, breakout, if successful, will go more less straight to the target only about 30-35% of the time. There are some filters that can improve this ratio a little bit, but I’ll leave for other time. Bottom line is, one has to learn to live with situations like above many times over.
My next trade is in USD-CAD.

Canadian dollar has been on a little power trip today. I think it is around reaction point and will bounce from this approximate area. Mind you I don’t know if USD-CAD will turn around here and make a new high, my goal is to look for 50 pips run up. I entered about 20 minutes ago at 1.0622. Objective is 1.0675. Hopefully soon.

Mike K.