Forex Trade - 12/14/05

I woke up a little bit later than usual and as soon as I saw the charts I saw another trade setup on USDCAD. I knew the Trade deficit report came out, so I waited about half an hour after the report to enter the trade. The Trade Deficit hit an all time high. Now I knew I should have went long because the number was so high, but i entered short mostly because of the longer term downtrend. So I entered short at 1.1478 with a profit target of 1.1442 and a stop at 1.1510. Unfortunately, the trade deficit number pushed my position to hit the stop. So, I had a losing day, but I'm gonna analyze this trade more this afternoon and try to make sure I don't have a losing trade again in future similar situations. I hope this helps...