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USDCAD trend reversal?

  • #1,641
  • Jul 23, 2007 1:24pm Jul 23, 2007 1:24pm
Quoting bobblong
What the guy with the red KKK cap said.

I see 1.04000
Patience + Humility + Study = Success
  • #1,642
  • Jul 24, 2007 7:31am Jul 24, 2007 7:31am
  • #1,643
  • Jul 24, 2007 7:41am Jul 24, 2007 7:41am
Now it completes the last wave and ready to rebound .. [email protected]?
any comments?
  • #1,644
  • Jul 24, 2007 7:47am Jul 24, 2007 7:47am
Quoting brainless
Now it completes the last wave and ready to rebound .. [email protected]?
any comments?
Really?
Patience + Humility + Study = Success
  • #1,645
  • Edited 8:19am Jul 24, 2007 8:12am | Edited 8:19am
1 min bias prior to report was favoring short side. good sign that if news comes out and does not pose conflicting data, then short side bias will prevail.

50 sma-grn
45 ema-blue
18 ema red

conflicting data = conflicting data among multiple reports and/or the pre-dominant trend.
Attached Image (click to enlarge)
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  • #1,646
  • Jul 24, 2007 8:21am Jul 24, 2007 8:21am
Hi all

any idea for direction ? Going down to 1.0322 or up to 1.0535?
  • #1,647
  • Jul 24, 2007 8:30am Jul 24, 2007 8:30am
I'd say if it forms support above 1.0373 in the next few hours, it'll go up.
  • #1,648
  • Jul 24, 2007 8:32am Jul 24, 2007 8:32am
Keep an eye on the US Dollar Index, it is hovering above 80.00 if it falls thru we will see the US Dollar weaken across the board.
Patience + Humility + Study = Success
  • #1,649
  • Jul 24, 2007 8:34am Jul 24, 2007 8:34am
There is no reason to ever believe that it's going up unless the charts are telling you that. Remember that Elliott Waves are purely theoretical and we have seen too few correct calls that use them on this forum as of late.

We'll definitely have some pullback from the current downfall but it will only be a good chance to go short again. IMHO.
Now is a good point to take some profit as we're sitting on a fib level from an average price.


I've now closed my (demo) position from 1.0470 and will re-enter shortly, pun intended The beauty of that entry is that it had a 15 pip stop and allowed me to size up my position considerably. Next target 1.0330
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  • #1,650
  • Jul 24, 2007 8:36am Jul 24, 2007 8:36am
Quoting brainless
I'd say if it forms support above 1.0373 in the next few hours, it'll go up.
but up for what? max may be 422/12
  • #1,651
  • Jul 24, 2007 8:37am Jul 24, 2007 8:37am
Quoting bobblong
There is no reason to ever believe that it's going up unless the charts are telling you that. Remember that Elliott Waves are purely theoretical and we have seen too few correct calls that use them on this forum as of late.

We'll definitely have some pullback from the current downfall but it will only be a good chance to go short again. IMHO.
Now is a good point to take some profit as we're sitting on a fib level from an average price.


I've now closed my (demo) position from 1.0470 and will re-enter shortly, pun intended The beauty of that entry is that it had a 15 pip stop and allowed me to size up my position considerably. Next target 1.0330
@shortly. Good stuff, I would also suggest one keep an eye on the US Dollar index.
Patience + Humility + Study = Success
  • #1,652
  • Jul 24, 2007 8:42am Jul 24, 2007 8:42am
Quoting m_j_1984
Hi all

any idea for direction ? Going down to 1.0322 or up to 1.0535?

hey mj. long time no see you , missed you so much, i hope you're doing pretty well, if you have enough money i think going long here at the bottom is good idea, but consider it long term trade , Good luck
  • #1,653
  • Jul 24, 2007 8:49am Jul 24, 2007 8:49am
Pls someone help this newbie(me) understand these terms frequently used

LOL, BTW,IMO

Thanks for your help.
  • #1,654
  • Jul 24, 2007 9:01am Jul 24, 2007 9:01am
By the way guys, I want to share with everybody how I do my calculations and how much easier it makes life by having a spreadsheet like this.

If you are lazy you can have it, please send me an e-mail and you can have it. There is a 1 Part version too. This version is suitable for 2-3 parts only.
I also have a sheet I use to trade Gold MiniLots(exclusively).

This sheet makes a splitting headache feel like a good backrub on the beach in Thailand.

I may be a noob but by being well equipped I learn fast.
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  • #1,655
  • Jul 24, 2007 9:03am Jul 24, 2007 9:03am
Quoting mohsen57
hey mj. long time no see you , missed you so much, i hope you're doing pretty well, if you have enough money i think going long here at the bottom is good idea, but consider it long term trade , Good luck

WOW :surprised
Hi
thanks Mohesn. I hope Successful trades for you my friend.

By the way ... what is your SL?


Good Luck
  • #1,656
  • Jul 24, 2007 9:11am Jul 24, 2007 9:11am
Quoting PIPsminer
Pls someone help this newbie(me) understand these terms frequently used

LOL, BTW,IMO

Thanks for your help.

LOL = Long Offered Late

BTW = British Teeth aren't White

IMO = Infrared Moving Objects
  • #1,657
  • Jul 24, 2007 9:23am Jul 24, 2007 9:23am
heh.
BAM BAM BOOM! -bravado
  • #1,658
  • Jul 24, 2007 9:42am Jul 24, 2007 9:42am
stopped out e/c long at 1.4430 + 6 pips
  • #1,659
  • Jul 24, 2007 9:54am Jul 24, 2007 9:54am
Quoting bobblong
LOL = Long Offered Late

BTW = British Teeth aren't White

IMO = Infrared Moving Objects

LOL - Laugh Out Loud
BTW - by the way
IMO- in my humble opinion
WTF is another popular one. I guess you know better..

Please don't teach a newbie wrong thing!
  • #1,660
  • Jul 24, 2007 9:58am Jul 24, 2007 9:58am
Quoting bobblong
BTW = British Teeth aren't White
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