An Intraday CAD/JPY Ascending Channel is Creating Scalping Environment

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

After declining for much of 2010, the CAD/JPY has seen a steady appreciation since late-October, rallying over 600-pips in the process. The appreciation has continued in the early part of 2011, with the first two months of the year market by a continuation of the ascending channel, albeit in a tighter range.

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