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USDCAD trend reversal?

  • #1,341
  • Jul 5, 2007 8:05am Jul 5, 2007 8:05am
Quoting marketwavez
Can you post a chart ? ................ illustrating what you are saying ?

Thanx in advance
sorry no chart for euro/cad but here are the numbers wave 1 1.4436 wave 2 1.4344 wave 3 1.4467 wave 4 1.4378 wave 5 1.4451
  • #1,342
  • Jul 5, 2007 8:40am Jul 5, 2007 8:40am
Quoting marketwavez
Sumari

Here is a clearer view of the wave 2 of your prior chart
as you can see there is alot of overhead resistance

Basically , this market needs something in the news to happen
to increase the volatility and get things moving either way !...... Be patient !

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to be a wave 1 it would have to be a higher high higher than the previous high looks like were in wave five still. to me any way
  • #1,343
  • Jul 5, 2007 10:37am Jul 5, 2007 10:37am
euro/cad update: we had a five wave pattern up down up down up this should be followed by a three wave pattern down up down we had the wave down it is currently retracing with an up move this should be contained by 1.4388 for a final push down to the three eight fib at 1.4338
  • #1,344
  • Jul 5, 2007 11:50am Jul 5, 2007 11:50am
not enough juice to hit the three eight fib 1.4500 could be on tap later this evening
  • #1,345
  • Jul 5, 2007 1:58pm Jul 5, 2007 1:58pm
Edge of the cliff in the daily?
  • #1,346
  • Jul 5, 2007 2:11pm Jul 5, 2007 2:11pm
would be a brave man who took it before the NFP.

Probably a good idea to straddle the range.
quote of the day: . It's like deja-vu all over again
  • #1,347
  • Jul 5, 2007 2:14pm Jul 5, 2007 2:14pm
Quoting Gmak
would be a brave man who took it before the NFP.

Probably a good idea to straddle the range.
I'm not in. Just looking at it
  • #1,348
  • Jul 5, 2007 2:17pm Jul 5, 2007 2:17pm
lol, you need a girlfriend.
quote of the day: . It's like deja-vu all over again
  • #1,349
  • Jul 5, 2007 2:28pm Jul 5, 2007 2:28pm
Quoting Gmak
lol, you need a girlfriend.
oh... that was harsh.
  • #1,350
  • Jul 5, 2007 2:42pm Jul 5, 2007 2:42pm
sorry, I didn't mean it, I just imagined you looking longingly after an inside 4 bar, yearning for action.


GmakCesarnc
quote of the day: . It's like deja-vu all over again
  • #1,351
  • Jul 5, 2007 5:16pm Jul 5, 2007 5:16pm
Quoting Gmak
sorry, I didn't mean it, I just imagined you looking longingly after an inside 4 bar, yearning for action.


GmakCesarnc
I'm definitely yearning for action. On the USDCAD that is. (but I wouldn't mind some "other" action too )

I think tomorrow this thing will move.
It's been winding up pretty tight just waiting to snap.
We'll have to wait and see.

Tom
  • #1,352
  • Jul 5, 2007 5:21pm Jul 5, 2007 5:21pm
i think the long will start on sunday for cad after a good test of that low put in on friday.
"Millionaires don't use astrology, billionaires do"
  • #1,353
  • Jul 5, 2007 6:17pm Jul 5, 2007 6:17pm
ok here is the chart for euro/cad the first wave up 1.4122 low to fridays high at 1.4432 even though it moved 310 pips the high is lower than the previous high at 1.4444 at this point it is still considered a retracement this is the first clue that the final wave five may possibly fail which it did
Attached Image (click to enlarge)
Click to Enlarge Name: GAN_9T10Prod009988.jpg Size: 32 KB
  • #1,354
  • Jul 6, 2007 4:14am Jul 6, 2007 4:14am
long entry waiting @ 0505 tp 0840ish
"Millionaires don't use astrology, billionaires do"
  • #1,355
  • Jul 6, 2007 4:21am Jul 6, 2007 4:21am
You have some balls to go long on usd/cad given the fact that the numbers this morning were good and an interest rate statement is due next week.
  • #1,356
  • Jul 6, 2007 4:24am Jul 6, 2007 4:24am
Yea, Lord rebukes a coward
"Millionaires don't use astrology, billionaires do"
  • #1,357
  • Jul 6, 2007 4:49am Jul 6, 2007 4:49am
Took profit at 1.0520. Waitng for further signals.
  • #1,358
  • Edited 7:43am Jul 6, 2007 7:09am | Edited 7:43am
Well folks ,
the Usd/Cad has done it again

It has made its choice -

A simple channel was there all along .......
- all we had to do was watch with way price would break .....
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Now , just look at this Stinking Mess !
( over 100 points dip this week )
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Attached Image (click to enlarge)
Click to Enlarge Name: CAD-7-06-2007-#1.jpg Size: 69 KB
  • #1,359
  • Jul 6, 2007 7:47am Jul 6, 2007 7:47am
Quoting marketwavez
Sumari

as you can see there is alot of overhead resistance

Basically , this market needs something in the news to happen
to increase the volatility and get things moving either way !...... Be patient !

---------------------------------------------------------------------
As I was saying , this market needed News to drive it
and here we are today ..................

News - is what caused the Canadian Dollar to make a choice here today-

Looks like now we will again have NEW Multi Year Lows -
  • #1,360
  • Jul 6, 2007 8:04am Jul 6, 2007 8:04am
Quoting OrionsWay
long entry waiting @ 0505 tp 0840ish
added .0481
"Millionaires don't use astrology, billionaires do"
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