USDCAD trend reversal?

hopefully sellers are sleeping right now because my order was triggered.

5min head and shoulder right at 1.0600

where can i get sentiment information?

i suppose fx traders have to make do with the weekly cot-report. google it, and then read about it at investopedia.com and babypips.com

Check CME.com under daily bulletin that is the prior days trading volumes and open intrest

DailyFX does a great summary of the COT release every Monday. link

is this a special one time feature for this week or do they post this every week/month?

every week

sweet.

Thanks for the helpful info.

Shorted the cadbury again 678 and 674 lookin for a little coniuation lower 523 maybe or 577

I think it is going to be trapped between 1.0600 and 1.0680 until some better / worse news comes along.

1.0575 and 1.0600 look like very substantial support.. I have my long s/l at breakeven now and pocketed 50 pips at .0680

BTW that dailyFx summary of the COT report is very much to my liking! CAD overbought BUTTLOAD

Reloaded shorts calling this 4hrs A B onto C 0524 i think

Went to bed thinking should be in good shape with shorts,wake up seeing wow few pips off the hi, but fell off again into position. Think today we will see some usd weakness vrs's the cadbury

yesterday she found support off the daily 50 bar today i think it becomes the 12 bar 0532

I bagged my pips after retracement to 1.0660.

Now looking for short @ 1.0620 for 200 pips or so.

May the lord of bad US Data be with us.

1424 GMT [Dow Jones] The pullback in CAD was overdue, as the currency became overbought by virtually all technical measures, says a report from BCA Research. "For example, sentiment and net speculative positions are both higher than before the 7% correction in the second half of 2006," it says. A correction of similar magnitude would see support in the 0.90-0.91 "breakout" zone, or C$1.0990 to C$1.1110, it says. "This cannot be ruled out given jitters towards all reflation trades. However, the setback should be viewed as purely technical in nature. Fundamental forces remain intact, including: a positive terms of trade shock, foreign takeovers, the necessity for higher interest rates and broad-based weakness in the U.S. dollar," BCA says. "Bottom line: Stay long the CAD versus the USD." (DBC)
Contact us in New York. Darlene Ross, 201 938-2085; [email protected] (END) Dow Jones Newswires
August 01, 2007 10:33 ET (14:33 GMT)

shorts covered entry longs 0533and 0454

why these numbers? 50% and 61% fibo? , but on these levels i see 1.0520 and 1.0476.

It will be yet a good point to take the down train? Or it will be better to wait a retracement?

There could be lots left in it south, myself i think we are in major trend change overall so i would rather buy than sell. I cut out early, prolly not wise but i grabbed lots already and not greedy, so no need to squeeze every pip 75-85% good for me. plus have much on my plate atm. Have really no problem letting it come to me.

Numbers were old fib retracement extensions will move my 533 down to 17 and wing it LOL

EW count from a fellow trader... UCAD should be in wave C now...

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