November 18, 2014
Another nice bullish pin has formed today – this time in the loonie. We got a decline into today’s European open, but better than expected data out of the US this afternoon has seen a pin form around mid October swing resistance. An entry at or around the current level would give us a decent risk reward, with a stop at today’s low and a conservative target of 1.14 flat.
Now we wait…
About the Author – Samuel J Rae is a retail forex trader and author of Diary of a Currency Trader (Harriman House 2013)
www.diaryofacurrencytrader.com
