Open trading account 
Today is a big day for Canada, as a lot of data releases are due this afternoon
Although you never really know the outcome of the data, one thing that I like to do
is to try and trade before a (major) data release because you can take advantage of the positioning of traders;
let me show you how this works:
Technically Cad is very low against Usd, and 110 has been broken this week,
and it is natural that a retracement from 112 highs is going to happen,
this morning we see a retracement happening and 111 is threatening to break,
we also know that CAD data is expected to be stronger, if we look up the economic calender,
this will mean that traders expect a spike down and are selling Usd/Cad in advance,
once we see this move getting stronger and 111 breaks to the downside,
and we look at other Cad crosses, like Nzd/Cad, Aud/Cad etc and we see them go down strongly, too
(I like to use the hourly charts for this)
we join the selling:
put in a couple of trades selling Eur,Usd, and two crosses against Cad(for example) to control your risk
(just in case one of the pairs hits support, or goes the other way because of data etc)
just make sure all pairs you choose are at the moment going down - I use sell stops,
put in tight TP's, and leave your SL's above last highs, and you should be alright
Gl all
Although you never really know the outcome of the data, one thing that I like to do
is to try and trade before a (major) data release because you can take advantage of the positioning of traders;
let me show you how this works:
Technically Cad is very low against Usd, and 110 has been broken this week,
and it is natural that a retracement from 112 highs is going to happen,
this morning we see a retracement happening and 111 is threatening to break,
we also know that CAD data is expected to be stronger, if we look up the economic calender,
this will mean that traders expect a spike down and are selling Usd/Cad in advance,
once we see this move getting stronger and 111 breaks to the downside,
and we look at other Cad crosses, like Nzd/Cad, Aud/Cad etc and we see them go down strongly, too
(I like to use the hourly charts for this)
we join the selling:
put in a couple of trades selling Eur,Usd, and two crosses against Cad(for example) to control your risk
(just in case one of the pairs hits support, or goes the other way because of data etc)
just make sure all pairs you choose are at the moment going down - I use sell stops,
put in tight TP's, and leave your SL's above last highs, and you should be alright
Gl all
