Pre BOC anticipation order.

I've decided to place a buy stop USD CAD 'pre BOC anticipation' order.

I will set the order a few minutes before the decision. Around 13 pips away from the price at the time. With a 15 pip stop loss and 23 pip profit target....see photo for guide.

It is still a complicated market, and because my preference to always involve the USD or JPY in an anticipation trade. I won't set an order for a cad positive result. Simply because I'm not comfortable shorting the USD or JPY at the moment.

If the order doesn't trigger I will delete it 90 seconds after the announcement.

Of course, US PMI Data is released at the same time, which could complicate the outcome. And I wouldn't blame anyone for sitting out the anticipation trade and waiting to see if there is an opportunity later in the day.

At the same time. I wouldn't blame anyone for also placing a CAD positive order. It's just that right now, I don't feel confident in a USD or JPY short.

Feel free to email any questions: johnelfedforexblog@gmail.com