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USDCAD trend reversal?

  • #1,661
  • Jul 24, 2007 9:59am Jul 24, 2007 9:59am
Quoting zamans98
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!
thanks zamans98

can you tell em what is this
OMGS? or something like this
  • #1,662
  • Jul 24, 2007 10:04am Jul 24, 2007 10:04am
go here to learn more :

http://www.gaarde.org/acronyms/
  • #1,663
  • Jul 24, 2007 10:11am Jul 24, 2007 10:11am
thank you , yes it is perfect , have all of them
  • #1,664
  • Edited 11:16am Jul 24, 2007 11:05am | Edited 11:16am
Wow ! ..... Success ! .....

 (.0410 held as support )

/////////////////////////////////////////////////////////////////////////////
Remember this chart posted here last week ?

See Original Post #1574
Click here http://forexfactory.com/showthread.php?t=29394&page=105


Canadian Dollar rallied and moved skyward !......... What a day !....
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-7-18-2007-#1.jpg Size: 53 KB
  • #1,665
  • Jul 24, 2007 11:09am Jul 24, 2007 11:09am
Trade Result 7/20/07
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-7-20-2007-#1.jpg Size: 59 KB
  • #1,666
  • Jul 24, 2007 11:23am Jul 24, 2007 11:23am
How exactly did 1.0410 hold when we're at 1.0355??
Patience + Humility + Study = Success
  • #1,667
  • Jul 24, 2007 11:28am Jul 24, 2007 11:28am
Quoting DutchTrader
How exactly did 1.0410 hold when we're at 1.0355??
I was posting this
  • #1,668
  • Jul 24, 2007 11:33am Jul 24, 2007 11:33am
This is beginning to prove my earlier theory that marketwavez is on crack..
  • #1,669
  • Jul 24, 2007 11:41am Jul 24, 2007 11:41am
Quoting Trader KGB
This is beginning to prove my earlier theory that marketwavez is on crack..
You're just figuring this out?http://www.forexfactory.com/images/icons/icon7.gif he does have pretty charts though.
As I pointed out take a simple 10 & 20 ema on a day chart. It has been 3 months since they have crossed. And has been pointed out to me on a month chart it has been five years since they crossed.
IMHO an Elliott Wave on a 15 min chart is laughable on such a strong trend.
  • #1,670
  • Jul 24, 2007 11:48am Jul 24, 2007 11:48am
Marketwavez is a loon, pun intended. This thing is headed to parity and the chat about bottom, and double bottom and triple bottom and bottoms up and bottomless is retarded.
Patience + Humility + Study = Success
  • #1,671
  • Jul 24, 2007 11:59am Jul 24, 2007 11:59am
what do u think guys?

Is this the end of this long trend or it will go further down?

This trend looks like endless..............
  • #1,672
  • Jul 24, 2007 12:47pm Jul 24, 2007 12:47pm
Quoting RWorld
what do u think guys?

Is this the end of this long trend or it will go further down?

This trend looks like endless..............
Look at the news for CAD on the main page. The trend is endless until USD has some GREAT news and CAD has BAD some news like "That's it, we sucked up all the oil!" .

Thats what it looks like anyway
  • #1,673
  • Jul 24, 2007 2:56pm Jul 24, 2007 2:56pm
Quoting bobblong
LOL = Long Offered Late

BTW = British Teeth aren't White

IMO = Infrared Moving Objects
thanks.
  • #1,674
  • Jul 24, 2007 3:02pm Jul 24, 2007 3:02pm
I wonder if marketwavez is actually trading his gospel or operates a bucket shop or something ;p
  • #1,675
  • Jul 24, 2007 3:57pm Jul 24, 2007 3:57pm
Quoting monarch
USD/CAD
4HOUR

Start of Wave 2-8-07 1.1875

Wave 1 2-23-07 1.1562

Wave 2 3-5-07 1.1825

Waiting now for WAVE 3 to complete around 1.0349
Possible Wave 4 areas:
1.0703
1.0924

Wave 4 projections are based on Fibo retracements I have ran on the monthly chart which now I have as FIBO-WAVE #4 Down in progress now)

These Monthly Fibo Waves are as follows:

FIBO WAVE #1
High 1-2002 1.6196
Low 1-2004 1.2680
38.2% retrace 5-04 1.4006

FIBO WAVE #2
High 5-2004 1.4006
Low 11-2004 1.1716
38.2% retrace 5-2005 1.2730

FIBO WAVE #3
High 5-2005 1.2730
Low 5-2006 1.0932
50% retrace 2-2007 1.1875

FIBO WAVE #4
High 2-2007 1.1875
Low (in progress now the 161.8% extension is 1.0349 and my expected support on this FIBO WAVE #4
Which started in February of 2007
This is where I started my Elliott Wave as per the chart and noted above, on the 4 hour it started 2-8-2007 the high of 1.1875 which is reflected in my Monthly Chart Fibo count.

Based on a Fibo Retrace of the High to the 1.0349 I have the following fibo levels as:
23.6% 1.0703
38.2% 1.0924

4 HOUR CHART IS ATTACHED
Todays low of 1.0339 finally reached the expected 1.0349 of my monthly "Fibo Wave #4", and the Low of Elliott Wave #3.

Now I expect a nice retracement up to the 23.6% fibo at 1.0703 for a entry and the completion of Elliott Wave #4 retrace.
  • #1,676
  • Jul 24, 2007 9:01pm Jul 24, 2007 9:01pm
Thanx for all the compliments guys, Really ....
---------------------------------------------------------------
Much Appreciated ......

It's nice to be thought of ....

Spent most of the trading day today in a chart chatroom -
Learning and Helping ....
Chartrooms are a healthy experience -
and I try to do it once or twice a week , ........

Seeing all the different opinions and point of views is very important .
This is my training grounds ......
  • #1,677
  • Jul 24, 2007 9:03pm Jul 24, 2007 9:03pm
Monarch - can you post a an update chart ?

---------------------------------------------------
Just to keep up visually with what you are saying ? .........
  • #1,678
  • Jul 24, 2007 9:04pm Jul 24, 2007 9:04pm
Hi guys/Gals,
As a Canadian independant businessman in some of my ventures let me say this.

USD/CAD Parity {IF achieved} will be fleeting.
Calculate your MM & RR as to how you are going to take advantage of a Long Term Long Position. This is going to be one of those Trades that Traders 5 Years from now will be saying... "If Only I could have got in back then..."

$0.02 CAD/USD
  • #1,679
  • Jul 24, 2007 9:37pm Jul 24, 2007 9:37pm
Quoting Bemac
Hi guys/Gals,
As a Canadian independant businessman in some of my ventures let me say this.

USD/CAD Parity {IF achieved} will be fleeting.
Calculate your MM & RR as to how you are going to take advantage of a Long Term Long Position. This is going to be one of those Trades that Traders 5 Years from now will be saying... "If Only I could have got in back then..."

$0.02 CAD/USD
Long time since I talked to the "original MONARCH", hope all is well.

I agree with what your seeing, I can easily picture the U/Cad going down to the .7526 and beyond.

This was the reason I have been tracking the U/Cad on the Monthly with a Fibo Wave analysis, along with the Elliott Wave.

I have considered on the 4 hour, for every move down, taking a 1 Lot Short at the 38.2% retracement, and do this for each cycle it has, and also putting a 2nd lot short at the 61.8% to catch the larger retracements occasionally.

At one time, i figured that by the time we reached the .7526 level, I could have up to 75 lots in from each move and 38.2%/61.8% retracement level, and an average of 1,000 pips per lot at the end, that would be times the 75 lots going short.

That could produce great profits, but you would have to leave the account alone for at least two years, and by that time, you would be saying, THANK YOU BEMAC OF THE MONARCH!

Good trading to all.
  • #1,680
  • Jul 24, 2007 11:41pm Jul 24, 2007 11:41pm
Quoting monarch
Long time since I talked to the "original MONARCH", hope all is well.

I agree with what your seeing, I can easily picture the U/Cad going down to the .7526 and beyond.

This was the reason I have been tracking the U/Cad on the Monthly with a Fibo Wave analysis, along with the Elliott Wave.

I have considered on the 4 hour, for every move down, taking a 1 Lot Short at the 38.2% retracement, and do this for each cycle it has, and also putting a 2nd lot short at the 61.8% to catch the larger retracements occasionally.

At one time, i figured that by the time we reached the .7526 level, I could have up to 75 lots in from each move and 38.2%/61.8% retracement level, and an average of 1,000 pips per lot at the end, that would be times the 75 lots going short.

That could produce great profits, but you would have to leave the account alone for at least two years, and by that time, you would be saying, THANK YOU BEMAC OF THE MONARCH!

Good trading to all.
Monarch,

what do u want to say by this?
what is this figure .7526? are talking about USD/CAD or CAD/USD?

pls explain!!
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