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USDCAD trend reversal?

  • #1,201
  • Edited 6:33am Jun 28, 2007 6:30am | Edited 6:33am
Quoting rozkan
Are you still holding it? It's around 106.20's right now.

Yes, I have it at 0621, as i write it is 0619.....not the bounce I had thought....not sure if I'll keep it into the FOMC....time will tell
Proper Prior Planning Prevents Piss Poor Performance
  • #1,202
  • Jun 28, 2007 6:31am Jun 28, 2007 6:31am
I am not thrilled about being long from this area but i think i deserves a few more minutes to see if new high or new lows start to happen next.
  • #1,203
  • Jun 28, 2007 6:37am Jun 28, 2007 6:37am
Quoting elskid
I am not thrilled about being long from this area but i think i deserves a few more minutes to see if new high or new lows start to happen next.

It's not a bad place to be "at the moment"......from my experience, some tight short trailing stops "may get run before the release......than again, tight long stops may get run, flip a coin....personnally, I have no stop....until I get into profits and protect my profits.
Proper Prior Planning Prevents Piss Poor Performance
  • #1,204
  • Jun 28, 2007 6:42am Jun 28, 2007 6:42am
Added 2 more lots at 0612.....
Proper Prior Planning Prevents Piss Poor Performance
  • #1,205
  • Jun 28, 2007 6:48am Jun 28, 2007 6:48am
This contestant would like to buy a green 30 min candle, Bob.
  • #1,206
  • Jun 28, 2007 6:52am Jun 28, 2007 6:52am
I have question for the group. As the CAD approaches the 1.0600 level, we know there are lots of stops in and around. How does one decide if the stops will shoot the market up or down? I have little desire to watch them run it to 1.0580 in a spike just to turn around and spend the rest of the day grinding up to 1.0650

Any thoughts?
  • #1,207
  • Jun 28, 2007 7:00am Jun 28, 2007 7:00am
Quoting elskid
I have question for the group. As the CAD approaches the 1.0600 level, we know there are lots of stops in and around. How does one decide if the stops will shoot the market up or down? I have little desire to watch them run it to 1.0580 in a spike just to turn around and spend the rest of the day grinding up to 1.0650

Any thoughts?
Well, we have no "choice" in the decison...the market will do what it wills....and I doubt it will grind this afternoon, though better to have it grind in your direction, eh?.....whatever happens will be quick and merciless!
Good Luck, she's back up to 0618 right now
Proper Prior Planning Prevents Piss Poor Performance
  • #1,208
  • Jun 28, 2007 7:55am Jun 28, 2007 7:55am
The Canadian Dollar has made a choice finally !

You know what's interesting about this sudden drop in price is that it happened at 2:30 am E.S.T. time
which means that the Canadian session was not even open yet ........How is this possible ?

Canada was asleep at 2:30 am .....
So there was no news out of canda at ther time , They all woke up to this nasty downturn !
-------------------------------------------------------------------------------------------------
Yesterday - i explained that this channel needs something in the news to happen to
cause price break either way ...........
-----------------------------------------------------------------------
now look how pro-found this break has turned out to be ,
amazing, absolutely amazing .........
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-6-28-2007-#1.jpg Size: 72 KB
  • #1,209
  • Jun 28, 2007 7:59am Jun 28, 2007 7:59am
These lines now appear to be important going forward .
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-6-28-2007-#2.jpg Size: 54 KB
  • #1,210
  • Jun 28, 2007 8:05am Jun 28, 2007 8:05am
It's clear support line has broken. But the question is; till when it will keep going down? Or is there any possibility that it will make a bounce...
R.Ozkan 1984 İzmir-Turkiye
  • #1,211
  • Jun 28, 2007 8:14am Jun 28, 2007 8:14am
Quoting rozkan
It's clear support line has broken. But the question is; till when it will keep going down? Or is there any possibility that it will make a bounce...
-------------------------------------------------------------------------
This is a question of Money Management
whatever you decide to do you must limit you risk on each trade

Use tight stops as possible -
Minimize the Loosers ..... Maximize the Winners

Because it's your Averages that's important over time .....
  • #1,212
  • Jun 28, 2007 8:39am Jun 28, 2007 8:39am
Here is the Usd/Cad - with ELLIOTT WAVES applied to it ....

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Attached Image (click to enlarge)
Click to Enlarge Name: CAD-6-28-2007-#3.jpg Size: 68 KB
  • #1,213
  • Jun 28, 2007 9:00am Jun 28, 2007 9:00am
I bought USDCAD. Just going to hold it until it turns positive.. well it's already positive but at least to 1.07
  • #1,214
  • Jun 28, 2007 9:04am Jun 28, 2007 9:04am
Quoting milkcake
I bought USDCAD. Just going to hold it until it turns positive.. well it's already positive but at least to 1.07
Im with you on this one, going against the breakout is risky though
  • #1,215
  • Jun 28, 2007 9:06am Jun 28, 2007 9:06am
Quoting milkcake
I bought USDCAD. Just going to hold it until it turns positive.. well it's already positive but at least to 1.07
Do you expect it to reach 1.07 without going under 1.059?
R.Ozkan 1984 İzmir-Turkiye
  • #1,216
  • Edited 9:59am Jun 28, 2007 9:46am | Edited 9:59am
Wow, the wrong way bet gets bigger everyday.. 85% net long at Oanda.. There's only one way this thing is headed..
Attached Image
  • #1,217
  • Jun 28, 2007 9:59am Jun 28, 2007 9:59am
Count me in


buy lo sell hi
"Millionaires don't use astrology, billionaires do"
  • #1,218
  • Jun 28, 2007 11:34am Jun 28, 2007 11:34am
desired level reached @ .0600 and position taken.
BAM BAM BOOM! -bravado
  • #1,219
  • Jun 28, 2007 11:49am Jun 28, 2007 11:49am
How could we attach charts?
Failure, is a wonderful teacher!
  • #1,220
  • Jun 28, 2007 11:56am Jun 28, 2007 11:56am
Quoting mike1349
How could we attach charts?
there is a little button when you post.
click that.
Attached Image
BAM BAM BOOM! -bravado
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