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USDCAD trend reversal?

  • #861
  • Jun 19, 2007 6:18pm Jun 19, 2007 6:18pm
good everning and morning everyone. see daily and 4 hours trend line still hold. is time go long?
  • #862
  • Jun 19, 2007 6:34pm Jun 19, 2007 6:34pm
Quoting StockKJay
Are you guys going a bit nuts? Forget USD/CAD, EUR/CAD is where the money will be made. US$ is a loser, probably wont have any bounce on it anyway. USD is for shortin', Euro is for going long.
No doubt.. EC has made bank this week.
USD Est Non Mortuus
  • #863
  • Jun 19, 2007 7:10pm Jun 19, 2007 7:10pm
Quoting RNB80190610
Hello

Does anyone know why the this pair fell today, was it the news, oil.. what

from all indicators it was trending up
9 bars ago on the 4hr was a pinbar, that was a warning sign for me that this pair wants to resume its downtrend. It is extremely bearish long term, check out the daily and weekly and tell me its not bearish. Longer term charts trump shorter term charts, of course.
StockKJay is right, USD is for selling and EUR is for buying.
  • #864
  • Jun 20, 2007 4:04am Jun 20, 2007 4:04am
Going up atm without any specific reasons...
  • #865
  • Jun 20, 2007 4:28am Jun 20, 2007 4:28am
im short this sucker! who´s with me and who´s not? why not?
  • #866
  • Jun 20, 2007 4:31am Jun 20, 2007 4:31am
Quoting VEC
im short this sucker! who´s with me and who´s not? why not?
i'm short according to my system but i'm watching the resistances closely.
  • #867
  • Jun 20, 2007 4:35am Jun 20, 2007 4:35am
Quoting melpheos
i'm short according to my system but i'm watching the resistances closely.
makes sense
  • #868
  • Jun 20, 2007 4:53am Jun 20, 2007 4:53am
USDCAD still consolidating sideways as far as I am concerned. Do you guys believe you can make money off a consolidating market?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD Daily.jpg Size: 84 KB
  • #869
  • Jun 20, 2007 5:05am Jun 20, 2007 5:05am
Crap, USD is going down vs all currencies but the CAD...
  • #870
  • Jun 20, 2007 5:07am Jun 20, 2007 5:07am
Quoting melpheos
Crap, USD is going down vs all currencies but the CAD...
good.
BAM BAM BOOM! -bravado
  • #871
  • Jun 20, 2007 5:30am Jun 20, 2007 5:30am
Quoting VEC
im short this sucker! who´s with me and who´s not? why not?
Well - I am short since yesterday evening (see former post). The risky side turned out to be true: we got a huge bounce off, because the daily momentum was already used up, when I did enter. The consolidation uptrend channel was only slightly scratched. All in all, it was my fault entering too early. At least I should have waited for a retrace and secondary break out, which would have me protected from getting stuck in a loosing position like at the moment. Right now today, would be a much better position in entering first short positions anyway, according to my system.

So what to do now? I am acting according to my trade plan: if it turns well down again at current level or at 0675 the latest latest I am staying short. If it goes above that level, I am off. (yes guys I know, if I get off there it would be a huge loss!). This would be my price to pay for the mistakes made.

rgds.
t.
always expect the unexpected!
  • #872
  • Jun 20, 2007 5:34am Jun 20, 2007 5:34am
Quoting WTB
USDCAD still consolidating sideways as far as I am concerned. Do you guys believe you can make money off a consolidating market?
You are right on the daily. We there are still in the flag and consolidating. But the 30M and 1H time frames show that we are already heading down. So I am expecting a secondary break of the up-trendline.
rgds
t.
always expect the unexpected!
  • #873
  • Jun 20, 2007 5:38am Jun 20, 2007 5:38am
sold half long position a few days ago. Reload my position yesterday at 0627.
  • #874
  • Jun 20, 2007 6:04am Jun 20, 2007 6:04am
Quoting VEC
im short this sucker! who´s with me and who´s not? why not?
target 0600
  • #875
  • Jun 20, 2007 6:06am Jun 20, 2007 6:06am
The EMA50 and EMA200 on H1 are resisting
  • #876
  • Jun 20, 2007 6:09am Jun 20, 2007 6:09am
i need this baby to go up.
BAM BAM BOOM! -bravado
  • #877
  • Jun 20, 2007 6:12am Jun 20, 2007 6:12am
Quoting bravado
i need this baby to go up.

Looks like it needs the US market open to help it out on its upward movement and it might be waiting till then.
  • #878
  • Jun 20, 2007 6:13am Jun 20, 2007 6:13am
Quoting yezbick
Looks like it needs the US market open to help it out on its upward movement and it might be waiting till then.
i hope so.
BAM BAM BOOM! -bravado
  • #879
  • Jun 20, 2007 6:14am Jun 20, 2007 6:14am
100 hours EMA at the 50% fib (0718-0612), where price is stalling. If shorts are not more favoured than longs, at least have better R:R right now.
  • #880
  • Jun 20, 2007 6:16am Jun 20, 2007 6:16am
yeah...i got 20 pips right now...its good for newbies like me
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