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Attachments: Is it finally time to short the EUR/CAD?
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Is it finally time to short the EUR/CAD?

  • Post #1
  • Quote
  • First Post: Dec 9, 2006 7:16pm Dec 9, 2006 7:16pm
  •  FXopportunist
  • | Joined Jul 2006 | Status: Pay the man ! ! | 912 Posts
The euro cad is on a 1400 pip bull run. A real monster. But, some recent price action suggests maybe is time for it to pull back or take a breather.
Where is everyone at on this pair?
Profit is where readiness meets Opportunity
  • Post #2
  • Quote
  • Dec 9, 2006 8:08pm Dec 9, 2006 8:08pm
  •  monarch
  • | Joined Aug 2006 | Status: Member | 3,126 Posts
I am Short on Eur/Cad expecting it to drop to 1.4865.

Monarch
 
 
  • Post #3
  • Quote
  • Dec 9, 2006 8:40pm Dec 9, 2006 8:40pm
  •  mbqb11
  • | Commercial Member | Joined Aug 2006 | 12,004 Posts
check out the weekly chart. Pin(not the longest nose) off the 365 ema. I think this is definitley worth watching finally for a pullback.

lets see what next week brings!
Attached Image
 
 
  • Post #4
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  • Dec 9, 2006 9:00pm Dec 9, 2006 9:00pm
  •  monarch
  • | Joined Aug 2006 | Status: Member | 3,126 Posts
mbqb11

The pin does show some sign on the weekly - with the nose being about 66 pips or so, and the open and close being lower than the top of the previous candle.

Look at the 1 day chart, it may even have a better nose on it about 156 pips or so, and the open and close being lower than the previous candle also. I would like to see the open on this bar a little lower, this makes me a bit cautious for now, but nevertheless it gain my interest.

This is a good look, confirms my Short a bit more.

Thanks a lot,

Monarch
 
 
  • Post #5
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  • Dec 9, 2006 9:07pm Dec 9, 2006 9:07pm
  •  monarch
  • | Joined Aug 2006 | Status: Member | 3,126 Posts
Also looking at EUR/CAD - the Pin came 1 pip below the R2 Daily, which is a good indication that there may be a draw back, especially with the close going all the way to a S3 Daily.

70 drop from High to Low this week. may have small up retrace before continuing down more.

Monarch
 
 
  • Post #6
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  • Dec 9, 2006 9:10pm Dec 9, 2006 9:10pm
  •  mbqb11
  • | Commercial Member | Joined Aug 2006 | 12,004 Posts
here is the daily chart up at the fib on the VWB with a pin. A short under the 1.5140 area could be a safe play as well. at the least, this pair is worth watching. Friday had a pin on the 4 hour chart as well that was good for 50 pips itself. So we have weekly daily 4 hr pins.

Take care,
Mike
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  • Post #7
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  • Dec 9, 2006 9:19pm Dec 9, 2006 9:19pm
  •  monarch
  • | Joined Aug 2006 | Status: Member | 3,126 Posts
Quoting monarch
Disliked
mbqb11

The pin does show some sign on the weekly - with the nose being about 66 pips or so, and the open and close being lower than the top of the previous candle.

Look at the 1 day chart, it may even have a better nose on it about 156 pips or so, and the open and close being lower than the previous candle also. I would like to see the open on this bar a little lower, this makes me a bit cautious for now, but nevertheless it gain my interest.

This is a good look, confirms my Short a bit more.

Thanks a lot,

Monarch
Ignored
Correction on the 1 Day Chart - it was only 43 pip nose, still a nice setup though.

Monarch
 
 
  • Post #8
  • Quote
  • Dec 9, 2006 9:21pm Dec 9, 2006 9:21pm
  •  monarch
  • | Joined Aug 2006 | Status: Member | 3,126 Posts
mbqb11.

Would you expect a rise in price at open, then the drop off?

I would have a entry waiting to go Short at the S1 area of 1.5230 then expect it to continue its downward move.

Monarch
 
 
  • Post #9
  • Quote
  • Dec 9, 2006 9:35pm Dec 9, 2006 9:35pm
  •  mbqb11
  • | Commercial Member | Joined Aug 2006 | 12,004 Posts
hey monarch,

usually a retrace happens, and then you can wait for a break of these pins. I have no idea whats gonna happen, and won't even try to tell you I do. I'll just wait for something to tip me off where this may be going. If you want to wait for a retrace to get in to minimize your stop, I would look for price action or whatever your system is around S1 if that is where you are looking for your entry.

best,
Mike
 
 
  • Post #10
  • Quote
  • Dec 9, 2006 9:39pm Dec 9, 2006 9:39pm
  •  FXopportunist
  • | Joined Jul 2006 | Status: Pay the man ! ! | 912 Posts
Quoting mbqb11
Disliked
here is the daily chart up at the fib on the VWB with a pin. A short under the 1.5140 area could be a safe play as well. at the least, this pair is worth watching. Friday had a pin on the 4 hour chart as well that was good for 50 pips itself. So we have weekly daily 4 hr pins.

Take care,
Mike
Ignored
this one of the things i am looking at as well
Profit is where readiness meets Opportunity
 
 
  • Post #11
  • Quote
  • Dec 10, 2006 9:37pm Dec 10, 2006 9:37pm
  •  FXopportunist
  • | Joined Jul 2006 | Status: Pay the man ! ! | 912 Posts
Well I took the short at 1.5154. it is 50 pips up now and I have moved my stop to +1. We shall see.
Profit is where readiness meets Opportunity
 
 
  • Post #12
  • Quote
  • Dec 10, 2006 9:43pm Dec 10, 2006 9:43pm
  •  mbqb11
  • | Commercial Member | Joined Aug 2006 | 12,004 Posts
im with ya
 
 
  • Post #13
  • Quote
  • Dec 13, 2006 7:30am Dec 13, 2006 7:30am
  •  FXopportunist
  • | Joined Jul 2006 | Status: Pay the man ! ! | 912 Posts
Well I have taken another short on the eur/cad at 1.5290. it is currently about 30 pips up and I have moved my stop to +1
Let's see if it will hold this time. So far this week I have results of +1 and -11 trying to get into a swing short on this pair. Anyone else back on the short train?
Profit is where readiness meets Opportunity
 
 
  • Post #14
  • Quote
  • Dec 13, 2006 2:17pm Dec 13, 2006 2:17pm
  •  itme
  • Joined Aug 2005 | Status: Member | 2,217 Posts
I think that one more impulse wave up to 1.5370 should bring us to the ultimate top of this trend.
 
 
  • Post #15
  • Quote
  • Feb 29, 2008 5:24pm Feb 29, 2008 5:24pm
  •  de123
  • Joined Sep 2006 | Status: Member | 2,331 Posts
Quoting itme
Disliked
I think that one more impulse wave up to 1.5370 should bring us to the ultimate top of this trend.
Ignored
i wonder if that price will be top for euro/usd......
its just money
 
 
  • Post #16
  • Quote
  • Feb 29, 2008 5:42pm Feb 29, 2008 5:42pm
  •  johnedoe
  • | Membership Revoked | Joined Dec 2005 | 2,298 Posts
Not really sure I would be anxious to short EUR/CAD yet..... you could put a trailing sell maybe 50 pip below the low of each day and follow it that way.
Just a thought......

http://img404.imageshack.us/img404/9...apture2nw6.png
Same Whore .... Different Dress
 
 
  • Post #17
  • Quote
  • Last Post: Feb 29, 2008 6:01pm Feb 29, 2008 6:01pm
  •  de123
  • Joined Sep 2006 | Status: Member | 2,331 Posts
i found 1 chart yesterday, while updating ...
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its just money
 
 
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