Part 1: Previous Session Review

Yesterday was a difficult session for the book. We took two trades across BTCUSD and SOLUSD, finishing with one winner and one loser, but the loss carried more weight and left the day at -650.4 reported pips.

The main issue was not trade frequency, but market structure. Crypto price action remained jumpy, with sharp intraday rotations and limited follow-through after initial moves. BTCUSD and SOLUSD both offered movement, but the cleaner continuation setups were scarce, and the losing leg outweighed the profitable attempt.

From a risk perspective, this is a session to log rather than chase. After a negative day, the priority is to avoid forcing recovery trades and wait for cleaner liquidity around scheduled macro events.

Part 2: Today’s Outlook & Watchlist

The focus today is firmly on Canada’s inflation release at 08:30 UTC, with CPI m/m, Median CPI y/y, and Trimmed CPI y/y all due at the same time. This is high-impact CAD data and can create fast repricing across Canadian dollar pairs, especially if the core inflation measures move together.

USD/CAD is the primary asset on watch. A hotter inflation print could support the Canadian dollar if traders price in a more cautious Bank of Canada path, while a softer set of numbers may pressure CAD and lift USD/CAD. The first move can be noisy, so confirmation after the initial spike matters more than guessing the headline.

CAD/JPY is also worth monitoring for traders comfortable with higher beta currency movement. If inflation surprises while broader risk sentiment is stable, CAD/JPY may provide a cleaner directional read than USD/CAD. If equity and crypto sentiment are unstable, position size should stay conservative.

Our plan is simple: reduce exposure before the release, let the first reaction clear, then look for structure after spreads normalize. After yesterday’s drawdown, discipline around entry quality and stop placement is more important than trying to be early.