I would have agreed with you two days ago, when it started going up and it went to 1.1160 but it reversed and continued down. The daily and the weekly are still pointing south with a strong angle. For at least the next 5 days the pressure is to go further south.
- #64
- May 18, 2007 3:17am May 18, 2007 3:17am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
I think now the time for make profit on CAD ,
the time for make BUY...
soon it will goto 1.1050 ...
dont waste time
- #67
- Edited 5:46am May 18, 2007 5:29am | Edited 5:46am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
Hey, I really don't understand why the "reversal" theme is recurrent here. Starting at the name of the thread...
USDCAD is in a sharp downtrend since 2002, Zero sign of reversal all the way down.
Dollar is also downtrending heavily.
Unless you guys mean "correction upwards" instead of "trend reversal" and your targets are tiny pips, USDCAD is a sell highs and be happy.....
Check your monthly chart. USDCAD is just ending the same correction pattern seen in early 2003, end 2004, early 2006.
From this point of view, the downtrend is much more likely to get stronger for the rest of 2007, than just stopping and reversing.
This scenario would be denied only consistently above 1.9000.
Those are my 2 pips.
USDCAD is in a sharp downtrend since 2002, Zero sign of reversal all the way down.
Dollar is also downtrending heavily.
Unless you guys mean "correction upwards" instead of "trend reversal" and your targets are tiny pips, USDCAD is a sell highs and be happy.....
Check your monthly chart. USDCAD is just ending the same correction pattern seen in early 2003, end 2004, early 2006.
From this point of view, the downtrend is much more likely to get stronger for the rest of 2007, than just stopping and reversing.
This scenario would be denied only consistently above 1.9000.
Those are my 2 pips.
Hey, I really don't understand why the "reversal" theme is recurrent here. Starting at the name of the thread...
USDCAD is in a sharp downtrend since 2002, Zero sign of reversal all the way down.
Dollar is also downtrending heavily.
Unless you guys mean "correction upwards" instead of "trend reversal" and your targets are tiny pips, USDCAD is a sell highs and be happy.....
Check your monthly chart. USDCAD is just ending the same correction pattern seen in early 2003, end 2004, early 2006.
From this point of view, the downtrend is much more likely to get stronger for the rest of 2007, than just stopping and reversing.
This scenario would be denied only consistently above 1.9000.
Those are my 2 pips.
- #70
- May 18, 2007 6:17am May 18, 2007 6:17am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
I couldn't agree with you more, infact personally I think I lost some pip because of fears of the treend reversal themes I hear. all arrows point south long term for now
- #72
- May 18, 2007 7:41am May 18, 2007 7:41am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts
And the historical level just got breached to the downside !!!!
Below 0900, I'm the newest CAD fan. Gonna sell dogs, goldfish, old bike and put all on CAD
- #74
- Edited 8:32am May 18, 2007 8:08am | Edited 8:32am
I would have to revise my opinion. The fundamentals coming out of Cad are just on fire. This puppies got more fire in it, maybe we are headed to 1976's 1.0388 and beyond. Although who knows because I'm thinking off getting in long term a short. And I'm a trend killer, every time I get in one it dies or corrects. It's Likely why I changed my trading tactics to take profit in a day or two.
On a side thought, It amazes me how much there is too learn about trading. When I first started a little more then a year ago. I thought maybe toss in a few weeks of hardcore studying and hear it is over a year with most days being between 8-12 hours. And there is still so much too learn.
On a side thought, It amazes me how much there is too learn about trading. When I first started a little more then a year ago. I thought maybe toss in a few weeks of hardcore studying and hear it is over a year with most days being between 8-12 hours. And there is still so much too learn.
- #75
- May 18, 2007 8:26am May 18, 2007 8:26am
- Joined Jul 2006 | Status: Trader | 2,924 Posts
I would have to revise my opinion. The fundamentals coming out of Cad are just on fire. This puppies got more fire in it, maybe we are headed to 1976's 1.0388 and beyond. Although who knows because I'm thinking off getting in long term a short. And I'm a trend killer, every time I get in one it dies. It's Likely why I changed my trading tactics to take profit in a day or two.
- #79
- May 18, 2007 9:29am May 18, 2007 9:29am
- Joined Nov 2006 | Status: Shoot all the clowns.. Shoot'em all | 14,520 Posts