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USDCAD trend reversal?

  • #1,681
  • Jul 25, 2007 12:25am Jul 25, 2007 12:25am
Quoting RWorld
Monarch,

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

pls explain!!
Now that would be the case here soon, the CAD/USD.

I am only discussing a very long term trade concept, with the consensus being that it is going to drop for some time here in the next few years.

Other than that, it would probably be okay to just enter 100 lots short right now, and don't worry about a 50-75 pip d/d, it will turn around soon enough. LOL.

Now that is not my recommendation, just a thought.
  • #1,682
  • Jul 25, 2007 12:32am Jul 25, 2007 12:32am
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
I'm already saying that.
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  • #1,683
  • Jul 25, 2007 1:01am Jul 25, 2007 1:01am
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, bemac said too consider a long position trade
  • #1,684
  • Jul 25, 2007 7:54am Jul 25, 2007 7:54am
Beautiful set up for a short
Patience + Humility + Study = Success
  • #1,685
  • Jul 25, 2007 8:47am Jul 25, 2007 8:47am
Quoting DutchTrader
Beautiful set up for a short

I'm not feeling it where ?!?!
  • #1,686
  • Jul 25, 2007 8:48am Jul 25, 2007 8:48am
Quoting bobblong
I'm not feeling it where ?!?!
Above 1.0400/25
Patience + Humility + Study = Success
  • #1,687
  • Jul 25, 2007 8:50am Jul 25, 2007 8:50am
'Werd'
Waiting on some price action now.

p.s Dutch are you in on this Eur/Usd party? raked 20 pips so far. 1.3 1st target
  • #1,688
  • Jul 25, 2007 9:14am Jul 25, 2007 9:14am
doesnt this look like a fabolouse short?

waitin for some confirmation, then im shortin.
  • #1,689
  • Jul 25, 2007 9:17am Jul 25, 2007 9:17am
It looks like it will be more like at the 1.0440 level
  • #1,690
  • Jul 25, 2007 9:21am Jul 25, 2007 9:21am
ive been thinkin that to, lets wait and see what happens
  • #1,691
  • Jul 25, 2007 9:50am Jul 25, 2007 9:50am
LOL 1.3 was meant to read 1.3710
  • #1,692
  • Jul 25, 2007 9:58am Jul 25, 2007 9:58am
Quoting bobblong
LOL 1.3 was meant to read 1.3710
No EUR/USD for me, EUR/JPY and AUD Crosses and of course USD/CAD
Patience + Humility + Study = Success
  • #1,693
  • Jul 25, 2007 10:12am Jul 25, 2007 10:12am
Blimey,

It seems it's gonna be a day's wait or so for that short signal
  • #1,694
  • Jul 25, 2007 10:16am Jul 25, 2007 10:16am
Quoting bobblong
Blimey,

It seems it's gonna be a day's wait or so for that short signal

What would be a good confirmation signal for short?
  • #1,695
  • Jul 25, 2007 10:54am Jul 25, 2007 10:54am
Quoting Phonetic
What would be a good confirmation signal for short?

I've given you a direction on where to go and learn these things, please refer to my recent post in the EUR/USD thread cheers
  • #1,696
  • Jul 25, 2007 11:02am Jul 25, 2007 11:02am
the gap on 30M works very well
  • #1,697
  • Jul 25, 2007 3:00pm Jul 25, 2007 3:00pm
Looks like noone wants to sell the loonie, afraid of spanking, that drop to 1.0340 was prolly last of the dumping of shorts. nice test and away she went
"Millionaires don't use astrology, billionaires do"
  • #1,698
  • Jul 25, 2007 5:05pm Jul 25, 2007 5:05pm
I still have the short term downtrend.. 1.0420 might be a good place to go short but we will see.

1.0400 and 1.3880 might be hit.
  • #1,699
  • Jul 26, 2007 6:58am Jul 26, 2007 6:58am
Quoting OrionsWay
Looks like noone wants to sell the loonie, afraid of spanking, that drop to 1.0340 was prolly last of the dumping of shorts. nice test and away she went

good call.
  • #1,700
  • Jul 26, 2007 10:23am Jul 26, 2007 10:23am
seeing 1.0518 a good place to go short??? anyone on the same train?
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