SHORT ENTERED USDCAD: TRADE #5 OF STAGE 3: CATASTROPHIC COMPUTER FAILURE. WAS NOT ABLE TO COMPLETE THE TRADE

There is a potential short trade on the USDCAD pair. There is resistance at 1.0700 based upon a high back in December, 2009. I am also looking at the Stochastics in the overbought area. I correlated that with the previous high in the pair back in Nov., 2009 where the Stochastic was in overbought area. As a correlative, GOLD is reaching an area of support around $1,050 which was a low in December, 2009 and resistance around $1,000 back in October, 2009. The second chart is the Gold ETF going by the symbol GLD which is 10% of the price of gold. GLD is currently sitting at $1,055. On the GLD chart, the Stochastics is also in the oversold territory. The support at $1,050 and Stochastics in oversold area are signs of a potential rise in the price of gold again.

UPDATE: 2/1/2010

The pair was entered at my target of 1.0698 and is currently positive. I am going to keep everything as is for now and see how the trade progresses.

UPDATE:

In the middle of this trade, I had my computer hardrive completely crash. I was unable to even turn the computer of an get any access to Tradestation. I called TS to see if I could call the trades in under simulation mode and since I was in simulation and not a real live trading account, they would not make any trade orders for me.

Now that I am up and running again, the trade is not on my new computer and I cannot assess this trade. I know I would have moved my stop loss into a profitable position, but I was not able to do so.

I am going to write to my coach and see if I can retrade my 5th trade or if I need to start all over in stage 3.