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USDCAD trend reversal?

  • #661
  • Jun 13, 2007 4:48am Jun 13, 2007 4:48am
Quoting el_duende
On the daily chart posted showing fib retrace levels of this great run south

It does look bullish currently USD/CAD- a possible target could be the 23.6% fib Level. Aroung 1.0850. Also yesterdays bar with the red arrow looks a good bullish bar to me and is worth a long.

Could have got in at approx 1.0670
Yep thats about where I had it, also lines up with a 50% retrace on the small corrective move in may. Although the 800 area is where the down trendline meets at a round number, which could stop the full retrace.
  • #662
  • Jun 13, 2007 4:58am Jun 13, 2007 4:58am
Quoting el_duende
..a possible target could be the 23.6% fib Level. Aroung 1.0850..
so far so good for the bulls. loads of us data till friday. lets see how this one unfolds.

the number you mentioned is a good one though.
BAM BAM BOOM! -bravado
  • #663
  • Jun 13, 2007 5:37am Jun 13, 2007 5:37am
Here is a weekly chart showing for the first time in the South run a weekly bar stamping a price higher than the previous bar. Before this every weekly bar kept making lower highs until now.

Also a tail or pin formation is has been formed on the weekly chart circled

News has also been good of late for $ with FED bias to a rate hike.

Found a bottom in this 30 year low?
Attached Image (click to enlarge)
Click to Enlarge Name: cad.gif Size: 10 KB
  • #664
  • Jun 13, 2007 5:41am Jun 13, 2007 5:41am
Quoting cesarnc
1.04
I told you my friend this week it will meet 1.07: : :
  • #665
  • Jun 13, 2007 5:46am Jun 13, 2007 5:46am
Does this mean Cesarnc has to put his dress on again now and sing Britney songs?
  • #666
  • Jun 13, 2007 5:49am Jun 13, 2007 5:49am
Quoting el_duende
Does this mean Cesarnc has to put his dress on again now and sing Britney songs?
Or better go and read BABYPIPS articles
  • #667
  • Jun 13, 2007 5:52am Jun 13, 2007 5:52am
cesarnc is one of the better traders i know.
but that av has got to go.

that's my rhyme.
BAM BAM BOOM! -bravado
  • #668
  • Jun 13, 2007 6:08am Jun 13, 2007 6:08am
Think we have a few different things playing here, short to medium term longs piling in, while medium term late shorts accumulating as LT profit lightening up in distribution, waiting to pounce heavily as they reaccumulate for the larger push lower, daily seems only a major w5 of W3 is completed. So where does W4 go 38-61% north 1.10-1.13 area?
"Millionaires don't use astrology, billionaires do"
  • #669
  • Jun 13, 2007 6:13am Jun 13, 2007 6:13am
Quoting OrionsWay
..shorts accumulating..waiting to pounce heavily as they reaccumulate for the larger push lower..
i don't see this.
BAM BAM BOOM! -bravado
  • #670
  • Jun 13, 2007 6:23am Jun 13, 2007 6:23am
pork bellies up +1.20.
BAM BAM BOOM! -bravado
  • #671
  • Jun 13, 2007 6:24am Jun 13, 2007 6:24am
Quoting bravado
pork bellies up +1.20.
oops wrong thread/forum.
BAM BAM BOOM! -bravado
  • #672
  • Jun 13, 2007 6:32am Jun 13, 2007 6:32am
Quoting bravado
i don't see this.

Volume was light on the 4th was lack of participation of selling preasure,or in futures no demand just yet. not a selling climax or final accumulation for beginning of new LT trend, just opinion.
"Millionaires don't use astrology, billionaires do"
  • #673
  • Jun 13, 2007 6:33am Jun 13, 2007 6:33am
Quoting OrionsWay
Volume was light on the 4th was lack of participation of selling preasure,or in futures no demand just yet. not a selling climax or final accumulation for beginning of new LT trend,
ok thanks.

more news out in 30 mins for usd and cad speech in about 2 hours.
maybe the shorts will come then.

better keep my eyes on this.
BAM BAM BOOM! -bravado
  • #674
  • Jun 13, 2007 6:36am Jun 13, 2007 6:36am
Quoting bravado
pork bellies up +1.20.


that made my crappy 2 trade day better. well 3 with the cad short, doesn't look like it's gonna hit 90 though.
  • #675
  • Jun 13, 2007 6:52am Jun 13, 2007 6:52am
Quoting el_duende
Does this mean Cesarnc has to put his dress on again now and sing Britney songs?
Quoting shadeslay


that made my crappy 2 trade day better. well 3 with the cad short, doesn't look like it's gonna hit 90 though.
speaking of which. where is cesarnc. today is a good day for traders to stick around.

a bit quiet here without him.
BAM BAM BOOM! -bravado
  • #676
  • Jun 13, 2007 7:05am Jun 13, 2007 7:05am
USDCAD pierced today the 100 SMA in the 4H chart and the 30 SMA has crossed above the 50 SMA, plus we broke above last week's high, so according to my system this pair is red flagged for the time being.
Attached Image
  • #677
  • Jun 13, 2007 7:15am Jun 13, 2007 7:15am
Quoting WTB
..this pair is red flagged for the time being.
yap. not entirely convinced of further move up yet.
have to wait and see.

i do expect a small retrace even if were to move up more.

closing 1/2 of profit @ current level. all troops @ 0680 are out.
BAM BAM BOOM! -bravado
  • #678
  • Jun 13, 2007 7:26am Jun 13, 2007 7:26am
reload long @ 0670.
BAM BAM BOOM! -bravado
  • #679
  • Jun 13, 2007 7:29am Jun 13, 2007 7:29am
IF (!) this is an impulse move, the fibretrace should work...lets see...it should turn to the upside somewhere between 60 and 40...but, this is also the spot for the bears to cut it down again...
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.jpg Size: 66 KB
  • #680
  • Jun 13, 2007 7:59am Jun 13, 2007 7:59am
i encourage everyone to have a look on the following chart based on boxingislife strategy
Attached Image
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