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USDCAD trend reversal?

  • #1,421
  • Jul 11, 2007 2:22am Jul 11, 2007 2:22am
Fight with a cad C wave is always quite dangerous, unless you have a good enough clue.

So far we also can say that the downtrend is still in the run. Patience will pay.

Cheers.
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凹凸 only
  • #1,422
  • Jul 11, 2007 5:32am Jul 11, 2007 5:32am
Short @ 1.0600
  • #1,423
  • Jul 11, 2007 7:05am Jul 11, 2007 7:05am
Usd/Cad

Now reaching its targets from yesterdays early post ..............
------------------------------------------------------------------------
Attached Image (click to enlarge)
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  • #1,424
  • Edited 7:57am Jul 11, 2007 7:13am | Edited 7:57am
Usd/Cad
(wave count )

Price now appears to be moving toward a Wave A high
--------------------------------------------------------------
This chart was post early yesterday, will update shortly,

Stay tuned
Attached Image (click to enlarge)
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  • #1,425
  • Jul 11, 2007 7:14am Jul 11, 2007 7:14am
pg2......................
  • #1,426
  • Edited 7:55am Jul 11, 2007 7:43am | Edited 7:55am
Usd/Cad - Update

--------------------------------------------
Now this is looking like a very strong Bullish Posture is in place
- especially coming off of theses Multi-Year Lows

Trading is a battle between Bulls and Bears
( most are aware of this )
But more importantly ,
Trading is a Battle between Technicals and Funny-mentals !
------------------------------------------------------------
Some times The Teckies move the market
Other times its The Funny's that move the market

So here we are

In the last 2 days - The Teckies seem to have alot to do with this movement...
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  • #1,427
  • Jul 11, 2007 7:54am Jul 11, 2007 7:54am
Pg-2..........
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  • #1,428
  • Jul 11, 2007 9:06am Jul 11, 2007 9:06am
Hi marketwavez, and what about your waveanalysis for daily CAD
  • #1,429
  • Jul 11, 2007 9:26am Jul 11, 2007 9:26am
I can agree with you according bullish trend but with double bottom not very
  • #1,430
  • Edited 3:25pm Jul 11, 2007 2:13pm | Edited 3:25pm
Hi Seraga ... I have already posted the daily charts Usd/Cad
- You have to scroll back in here over the last 10 pages or so
so you see them .....

Here is is the latest view ( 4hr Bars ) -
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-7-11-2007-#4.jpg Size: 48 KB
  • #1,431
  • Jul 11, 2007 2:52pm Jul 11, 2007 2:52pm
correct me if I'm wrong but your chart shows 2 lower lows, not a double bottom. A double bottom should have a similar price.

Quoting marketwavez
Hi Seraga ... I have already posted the daily charts Usd/Cad
you have to scroll back in here over the last 10 pages or so
so you see them .....

Here is is the latest view ( 4hr Bars ) -
TRADE FOR SWAP
  • #1,432
  • Edited 3:29pm Jul 11, 2007 3:05pm | Edited 3:29pm
A Double Bottom can be
2 Rising lows - or 2 Equal lows - or 2 Lower lows
---------------------------------------------------

What makes a Double Bottom significant is where it is occurring
in relation to the larger time frames .......

In this case ,we are taliking about Multi-Year Lows in The Usd/Cad

I can't post any links here to show you because the moderators
do not alow it - and as much as I would like to help and explain ...
So basically , I cant point you in the direction to learn more about
chart patterns and their tendencies , because of forum rules ...........

--------------------------------------------------------------
Anyway, what do you think is going on ?.....

Experience has taught me early on
that there is always another point of view
------------------------------------------------------------------
Why not share your charts with the group in here ?
  • #1,433
  • Jul 11, 2007 3:24pm Jul 11, 2007 3:24pm
in that case I could identify numerous double bottoms on any sustained downtrend

Quoting marketwavez
A Double Bottom can be
2 Rising lows - or 2 Equal lows - or 2 Lower lows
---------------------------------------------------

What makes a Double Bottom significant is where it is occurring
in relation to the larger time frames .......

In this case ,we are taliking about Multi-Year Lows in The Usd/Cad

I can't post any links here to show you because the moderators
do not alow it - and as much as I would like to help and explain ...
So, I cant point you in the direction to learn more about chart patterns
and their tendencies , because of forum rules ...........

--------------------------------------------------------------
Anyway, what do you think is going on ?.....

Experience has taught me early on
that there is always another point of view
------------------------------------------------------------------
Why not share your charts with the group in here ?
TRADE FOR SWAP
  • #1,434
  • Jul 11, 2007 3:37pm Jul 11, 2007 3:37pm
That is correct - you can .......
Some are viable an some are not !

Nothing is 100 % reliable and Nothing is cast in Stone !

All we have as Traders is Probability and Averages -
---------------------------------------------
This is where your Money Management skills come in .........
trading is not about who has the right or wrong wave count

This is a pointless argument
--------------------------------------------------------
Trading is about your abilty to Manage Risk and Protecting your Assets
through the use of a Stoploss and utilizing what's called Position Sizing .

- You Averages are what is important over time !
  • #1,435
  • Jul 11, 2007 4:06pm Jul 11, 2007 4:06pm
Ive been looking at my 4 hour chart and according to my trading rules believe will move South.

Price action has also started moving South on the 4 hour chart

I am short @ 1.0555, the next 2 two 4 hour bars are important to confirm my view

Asian session may be interesting here

marketwavez we may even have a triple bottom! One hopes!
  • #1,436
  • Edited 5:27pm Jul 11, 2007 5:06pm | Edited 5:27pm
Hi there El Duente -
Looks like a Tripple Bottom also - I think you ma y be right

Still, we must remember the rules of Money Management -
---------------------------------------------------------------

Do not over-extend yourself .........
and Don't put all the eggs in one Basket ......
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  • #1,437
  • Jul 11, 2007 5:16pm Jul 11, 2007 5:16pm
Quoting marketwavez
Hi there Dudeuente -
Looks like a Tripple also - I think you ma y be right

sti l we must remeber the rules of Money Mangement -
---------------------------------------------------------------

Do not over-extend yourself .........
and Don't put all the eggs in one Basket ......
Indeed money mangement and discipline are key!
  • #1,438
  • Jul 11, 2007 5:51pm Jul 11, 2007 5:51pm
Quoting marketwavez
Hello , Good things
Still can't see your charts -
you are posting links - try to upload attachments
--------------------------------------------
Here is a look at the Weekly-chart s ............Usd/Cad

--------------------------------------------------
/////////////////////////////////////////////////////////////
Serega ,
Here it is again - as you requested .....
Attached Image (click to enlarge)
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  • #1,439
  • Edited 6:19pm Jul 11, 2007 5:56pm | Edited 6:19pm
Quoting marketwavez
Looks like a Tripple Bottom also
marketwavez,

You're really stretching the conventional definitions of a double or triple bottom. Check your USD/CAD chart from May 21st to May 25th, it's the exact same chart as right now - 3 successive lower lows, which became a 4th, and then the bottom fell out. I'm not saying the same will happen here, but this pattern of successive lower lows typically would not fit the conventional description of a double/triple bottom.
Attached Image
  • #1,440
  • Jul 11, 2007 6:20pm Jul 11, 2007 6:20pm
Quoting el_duende
marketwavez we may even have a triple bottom! One hopes!
Sorry guys!
A really quick question. What do you expect to see after a triple bottom? Is it a reversal pattern or something?

Thanks in advance!

Fabian
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