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USDCAD trend reversal?

  • #1,301
  • Jul 1, 2007 11:19pm Jul 1, 2007 11:19pm
Here is the Usd/Cad - ( Very short-term )
with ELLIOTT WAVES applied to it ....

-----------------------------------------------------------------
Looking for a minor " End of Wave C "
- Bulls need to overcome and close above .0662
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-6-29-2007-#5.jpg Size: 85 KB
  • #1,302
  • Jul 1, 2007 11:53pm Jul 1, 2007 11:53pm
Usd/Cad

Here is a Target-Line Chart for tomorrow's trading ....

These are immediate targets if we should get some fresh Bulls
to start getting happy again ............
--------------------------------------------------------
-Hopefully this market Doesn't start getting erratic at 2:30 am like
it did the the last 2 trading sessions last week when Canada was
sleeping and there was no Economic News ............
//////////////////////////////////////////////////////////////////////////////////
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-6-29-2007-#7.jpg Size: 64 KB
  • #1,303
  • Jul 2, 2007 7:39am Jul 2, 2007 7:39am
USDCAD.... Id appreciate it if someone more skilled could help me figure out about the USDCAD pair...any idea if its going down or up this week? And why?

Thanks,
-Matt
  • #1,304
  • Edited 10:02am Jul 2, 2007 9:42am | Edited 10:02am
cad longs picked up 0550, will play this on the fly, maybe 0830 target maybe a scratch


scratch
"Millionaires don't use astrology, billionaires do"
  • #1,305
  • Jul 2, 2007 10:11am Jul 2, 2007 10:11am
Orionsway...

What do you mean by "cad longs picked up 0550, will play this on the fly, maybe 0830 target maybe a scratch"

do you mean it probably will go up towards 1.0830? If so...any idea when?

Thanks again,
-Matt
  • #1,306
  • Jul 2, 2007 10:18am Jul 2, 2007 10:18am
Quoting Bidplace
Orionsway...

What do you mean by "cad longs picked up 0550, will play this on the fly, maybe 0830 target maybe a scratch"

do you mean it probably will go up towards 1.0830? If so...any idea when?

Thanks again,
-Matt
that trade is closed the market is still weak, and nobody knows when or what prices NOONE, when professionals decide to support usd/cad it will stop dropping, no support\buyiing this drops period.
I may take another stab long at 1.0511 area test to see if support is there, but probably not looking at daily chart. We shall see
"Millionaires don't use astrology, billionaires do"
  • #1,307
  • Jul 2, 2007 10:21am Jul 2, 2007 10:21am
Ive been short since 0612 and price action keeps going my way. I was aiming for 0450 area again

I cant see anything at present to change that view.
  • #1,308
  • Jul 2, 2007 10:23am Jul 2, 2007 10:23am
yep sure looks that way
"Millionaires don't use astrology, billionaires do"
  • #1,309
  • Edited 2:15pm Jul 2, 2007 1:19pm | Edited 2:15pm
Usd/Cad

Hold on .....
- maybe there's a Double Bottom ?
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-7-02-2007-#2.jpg Size: 64 KB
  • #1,310
  • Jul 2, 2007 3:16pm Jul 2, 2007 3:16pm
Not sure hows that a double bottom? 5 and B are around 100 pips apart.

The chart pattern could be a dead cat bounce, another sharp drop is about to hit USD/CAD potentially.

Also with the new low, resuming of large downtrend is back, the flag we were in has had a breakout to the downside, this is a good pattern showing us South
Attached Image
  • #1,311
  • Jul 2, 2007 3:37pm Jul 2, 2007 3:37pm
LOL nice cat EL
"Millionaires don't use astrology, billionaires do"
  • #1,312
  • Jul 2, 2007 3:41pm Jul 2, 2007 3:41pm
Quoting el_duende
Not sure hows that a double bottom? 5 and B are around 100 pips apart.

The chart pattern could be a dead cat bounce, another sharp drop is about to hit USD/CAD potentially.

Also with the new low, resuming of large downtrend is back, the flag we were in has had a breakout to the downside, this is a good pattern showing us South
Absolutely correct observation. Thanks. I am short since 606, cashed out in between and I think we will see another downmove soon.
always expect the unexpected!
  • #1,313
  • Edited 4:28pm Jul 2, 2007 4:04pm | Edited 4:28pm
Quoting marketwavez
Here is the Usd/Cad - ( Very short-term )
with ELLIOTT WAVES applied to it ....

-----------------------------------------------------------------
Looking for a minor " End of Wave C "
Here's An Update !
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-6-29-2007-#5.jpg Size: 85 KB
  • #1,314
  • Jul 2, 2007 4:29pm Jul 2, 2007 4:29pm
pg-2..............
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-7-02-2007-#3.jpg Size: 59 KB
  • #1,315
  • Jul 3, 2007 5:40am Jul 3, 2007 5:40am
I was stopped out and took some profit. Will look to reposition again.
  • #1,316
  • Jul 3, 2007 9:23am Jul 3, 2007 9:23am
long usdcad still looking decent.

long since .0525.
BAM BAM BOOM! -bravado
  • #1,317
  • Jul 3, 2007 9:53am Jul 3, 2007 9:53am
A reversal or not is still under judgement.

But a risk-free long is worth trusted right now.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadwavecount.jpg Size: 41 KB
凹凸 only
  • #1,318
  • Jul 3, 2007 10:13am Jul 3, 2007 10:13am
Quoting marketwavez
Usd/Cad

Hold on .....
- maybe there's a Double Bottom ?
Here we are early today ......... the Double Bottom Appears to be holding......
----------------------------------------------------------------------

-We Now appear to be in a '' Wave C " - Rally ...............
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-7-03-2007-#4.jpg Size: 63 KB
  • #1,319
  • Jul 3, 2007 10:18am Jul 3, 2007 10:18am
spike lo then subsequent dbl bottom is a powerful reversal pattern. question is how long will it last...
  • #1,320
  • Jul 3, 2007 10:42am Jul 3, 2007 10:42am
Quoting marketwavez
Here we are early today ......... the Double Bottom Appears to be holding......
----------------------------------------------------------------------

-We Now appear to be in a '' Wave C " - Rally ...............

Nice work dude
"Millionaires don't use astrology, billionaires do"
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