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USDCAD trend reversal?

  • #521
  • Jun 5, 2007 8:39am Jun 5, 2007 8:39am
depends on what you are looking for...this market is terribly oversold....so, if it snaps back some 100 pips, that would be a safe play for some scalps on the longside, esp when it can take out yesterdays high...if they drive it down below yesterdays low, watch out for a reversal and a rally...anyway, patience is key...
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  • #522
  • Jun 5, 2007 9:18am Jun 5, 2007 9:18am
taking 2/3 of position out @ 0605 before sl trigger.
BAM BAM BOOM! -bravado
  • #523
  • Jun 5, 2007 9:52am Jun 5, 2007 9:52am
sl triggered. still holding short from 0710.
BAM BAM BOOM! -bravado
  • #524
  • Jun 5, 2007 10:59am Jun 5, 2007 10:59am
Quoting peter100
this market is terribly oversold....
Who says? an indicator?
  • #525
  • Jun 5, 2007 11:06am Jun 5, 2007 11:06am
Quoting peter100
depends on what you are looking for...this market is terribly oversold
Definitions of "oversold" and "overbought" have absolutely zero meaning in a trending market. If you don't believe me, buy everytime a Stoch pokes out of an "oversold" territory, and sell everytime a Stoch pokes out of an "overbought" territory, and tell me how well the results are. The definitions of "overbought" and "oversold" only work in a consolidating market.
  • #526
  • Jun 5, 2007 12:16pm Jun 5, 2007 12:16pm
pair moving up atm. nothing significant. perhaps a better selling opportunity.
BAM BAM BOOM! -bravado
  • #527
  • Jun 5, 2007 12:18pm Jun 5, 2007 12:18pm
exit cad short position from 0710.

no position held on this pair.
BAM BAM BOOM! -bravado
  • #528
  • Jun 5, 2007 12:20pm Jun 5, 2007 12:20pm
Quoting bravado
exit cad short position from 0710.

no position held on this pair.
Sell limit just triggered . Next 0650
  • #529
  • Jun 5, 2007 12:48pm Jun 5, 2007 12:48pm
Quoting cesarnc
Sell limit just triggered . Next 0650
b-b-but usd cad is going 2.000 from here. yap. everyone go lonnng.
BAM BAM BOOM! -bravado
  • #530
  • Jun 5, 2007 1:03pm Jun 5, 2007 1:03pm
Quoting WTB
Who says? an indicator?
if you like, plot an rsi (14) on the weekly chart...see the new low...additionally look at the space between the price and the daily 10 ema ...plus the space between the 10ema and the 50/100ema...but true, "oversold" and "overbought" are terms that belong to the stock market in the first place...how about talking about a "sell climax"...also more a term from the stock/commodity markets...anyway, i do not promote to get any long position of course....market has to print a pin bar first....
  • #531
  • Jun 5, 2007 1:27pm Jun 5, 2007 1:27pm
Quoting cesarnc
Sell limit just triggered . Next 0650

Keep those shorts coming but be aware of short squeeze rally first
  • #532
  • Jun 5, 2007 1:50pm Jun 5, 2007 1:50pm
to determining if a trend reversal will occur. At the start of the week, the USD/CAD MACD was bearish and the price channel trend lines were tight.
Until there is a daily close above an 18 day SMA then I might consider going long here. Until then I'll stick with the trend to 1.4000 or 1:1 ratio.
Happy Loony hunting
  • #533
  • Jun 5, 2007 10:06pm Jun 5, 2007 10:06pm
lol did I miss some news for this one or something, that was a mighty quick move for the time of day.
  • #534
  • Jun 5, 2007 10:09pm Jun 5, 2007 10:09pm
whoa... here's another massive shorting... 1.0636 to 1.0576. (3:10am GMT).
not bad.
i wonder who's responsible for this pattern.
Nihil Sine Deo.
  • #535
  • Jun 5, 2007 10:11pm Jun 5, 2007 10:11pm
lol not sure, but they have some leverage

I wonder how much capitol it takes to move it like that?
  • #536
  • Jun 5, 2007 10:36pm Jun 5, 2007 10:36pm
couple of billions... probably not as much as it would take during the day. speculation.

Quoting shadeslay
lol not sure, but they have some leverage

I wonder how much capitol it takes to move it like that?
Nihil Sine Deo.
  • #537
  • Jun 6, 2007 7:14am Jun 6, 2007 7:14am
According to my system, any bounce down from the 1.0650 - 1.0700 area will have me searching for new short positions.
  • #538
  • Jun 6, 2007 7:19am Jun 6, 2007 7:19am
The 700 area was where I was looking as well. but somebody is tossing a fair amount of selling pressure at it the last day, not sure it's gonna make it there now.
  • #539
  • Jun 6, 2007 7:22am Jun 6, 2007 7:22am
Quoting shadeslay
The 700 area was where I was looking as well. but somebody is tossing a fair amount of selling pressure at it the last day, not sure it's gonna make it there now.
my bad, sorry
  • #540
  • Jun 6, 2007 7:34am Jun 6, 2007 7:34am
Quoting cesarnc
my bad, sorry
Warn a brother next time.
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