USDCAD trend reversal?

this market is not bad for trading from the longside...if it breaks out of the wedge, you might see a nice rally...lets see...anyway, whatever you do on the longside, you better know what you do...picking tops or bottoms can be done, but it must be done right...also , theres a outside-inside combination in the making...indication for a reversal

That's the very reason as of why I dont trade reversals: A reversal formation to me does NOT mean a change in the trend, simply a weakening stage. I would never consider trading right off a reversal and thus betting against many weeks of downtrending mood. The way I treat reversal is as a blockout signal: if I spot a reversal, I give the next swing a healthy miss even if it's in the direction of the main trend. Once that next swing has gone by and the dust's settled, I re-asses the situation from there: have we made new lows and thus the downtrend is still in place? or has a new uptrend been formed?

That's what my 3 Moving Averages assist me with - to not bet against overall market sentiment.

Short USD/CAD @ 1.0832. On the 3hour frame the price hasn't reached the 50 EMA yet. So If it get's there I add some lots. I suspect that price will bounce of the 50 EMA and continue the wellproven downtrend.
If I look at my charts, the 50 EMA is a very serious support for this downtrend .

Watch out, CAD interest rates coming out shortly!!!!

I liked the "shortly"

Already 20ish pips! Interest statement is a gamble. But if it goes up, I close my positions and re-open them at the 50 EMA!

That was fun

What a reaction to no change. I would have liked to see the reaction if they raised rates!

Indeed. 60 pips now.

That took care of a lingering short trade I had going.

Wow, 50 pips since the announcement. What was in the statement I wonder?

out with 72 pips.

BTW: how is the reversal coming bulls?

This is going to kill my pivot points for tomorrow for sure!

09:03BOC says rate hike may be required in near-term; April CPI cor inflation were above expectations; says CAD appreciably higher than the bank assumed in April; cites increased risk of inflation remaining above 2.00%

More hawkish, only raising.

I believe this pair has another couple hundred pips on the downside to look forward to.

Nice! Now let´s have some fun with this baby!

.0700 where i will go long.

come to poppa bravado usdcad.

0300 where you go Paris

entered market buy @ 0730. limit buy @ 0710 waiting. stoploss will be tight below .0700 unlike paris.