Trade photo.

It's a 'risk off' trade. In an attempt to take advantage of the relatively sour mood due to soft US data. I think the mood may remain pensive ahead of NFP. I've gone with a 40 pip stop loss and 60 pip profit target.

I've chosen the AUD to short Seeing as the CAD is fighting back Vs the AUD, even after a BOC rate cut with the likelihood of more cuts to come.

The risk to the trade is a switch to positive sentiment, or the fact there isn't a 1hr hour swing to place a stop loss behind.

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