The Dollar/Loonie has moved up off of its lows over the last few days and pierced some significant resistance (green line on chart to the right) in the last day or so. The pair seems to be catching its breath a bit and preparing for another move. Which way? I don't know and don't care. We'll buy on a close above either the upper or lower channel band. I'm going to move to break even at +30. Also, watch out for a head fake (see January 13 post for more information on that), these narrow bands can do that. It is almost like they have to squat to launch themselves sometimes. I'll keep you posted on progress.Happy Trading!
