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2.00pm CAD Surprise interest rate cut to 4.25% from 4.5%
Trade entry:
Time: 1.58 pm (2 minutes from the announcement)
Direction: Long
Price: 1.0053
Target: 70 pips above
Stop: 25 pips above
Exit: 1.0099 (+46 pips)
Comment: A 100-pip mover. Once again, bullish price action as strength begets strength (as seen before). It would have fetched the 70-pip target if I gave a little more room for the price to manoeuver. Still it was a good 2-1 reward-risk ratio. So, it is important to have a trading plan in place. There are more big news events coming up this week.
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