Jan15 – S1B – NZDCAD

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Although I regarded this as a STAM setup – it strictly wasn’t!  There was no significant retracement. However the momentum looked very good – there was no target to the upside because the pair is at a historic high.  Looking at the trend in the lower timeframes it looked a fairly safe bet.

As it turned out, I bought in very near the top and was stopped out within a few hours.

Would I do this trade again?  Very likely yes.

Note that the spread on this pair went to 12 pips at the time of the US PPI news.

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