How make money with the Loonie?

Morning Dynamic Traders

Yesterday the loonie tried to recover some lost ground from Wednesday, but with the way things seem to be shaping up this morning it doesn’t look good.

We did have signals of the price changing direction and moving up, which I have demonstrated in the 4 hour chart below. As you can see price came down to a Fib breather level and with the help from the RSI and Stochastics who were both showing buy signals price then increased.














Here is how you could have made money from the Loonie being in a range. With price at a strong RN and Resistance level with divergence from the MACD you should be getting ready for a short position. The short position ended when price came down to the Fib breather level. At this point we then get ready for a long position and use the BOB technique to enter for a long position. From the chart you will see that price ran out of steam when it arrived at another RN.

With the Loonie being in a range we had 2 days to make a possible 200 pips. This would have needed a lot of care and attention, but never the less very easy money as my analysis was very simple.

If you did manage to capture some profits very well done to you. I will conclude the week on the Loonie on Monday.

Hope you all have a good weekend.

Happy Trading.

Richard Monnery