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USDCAD trend reversal?

  • #1,761
  • Edited 7:53pm Aug 1, 2007 7:39pm | Edited 7:53pm
That looked to me like a double top, look at the divergence. I used ATR to check it.

Why ignore S/R and fibs when the chart is stating them as fact?

I'd love to be told I am mistaken and that you are right. Soon we shall see ;p
  • #1,762
  • Aug 1, 2007 8:48pm Aug 1, 2007 8:48pm
Quoting soros_junior
EW count from a fellow trader... UCAD should be in wave C now...

Either wave C or there is possibility of wave 3 as well
  • #1,763
  • Edited Aug 2, 2007 5:30pm Aug 1, 2007 9:08pm | Edited Aug 2, 2007 5:30pm
Quoting soros_junior
EW count from a fellow trader... UCAD should be in wave C now...

{image deleted, please keep images 600x600 max}
Hi Soros. I need your advice. I know you are very popular and good. I got cut on this pair, yes badly like a real beginner. I still have 2 buys (1 lot each) way up there, back in march and april at 1.1650 and 1.1600. Before that I was doing pretty good until I listen too many analysts on T.V. back here in Canada. Back then we were heading to 1.2000, went into a supposed correction and I bought. I wanted to take a lost into a retracement but went south too quickly. Do you think we got finally the reversal towards 1.0900 at least? Thank you
  • #1,764
  • Edited 10:52pm Aug 1, 2007 10:40pm | Edited 10:52pm
Quoting mirdaniel
Hi Soros. I need your advice. I know you are very popular and good. I got cut on this pair, yes badly like a real beginner. I still have 2 buys (1 lot each) way up there, back in march and april at 1.1650 and 1.1600. Before that I was doing pretty good until I listen too many analysts on T.V. back here in Canada. Back then we were heading to 1.2000, went into a supposed correction and I bought. I wanted to take a lost into a retracement but went south too quickly. Do you think we got finally the reversal towards 1.0900 at least? Thank you
this link might answer your question http://www.forexfactory.com/news.php?do=news&id=41142
i'm just looking at TF H1 for intraday trading.... at a bigger TF, i think the pair is still DT...
  • #1,765
  • Aug 2, 2007 1:06am Aug 2, 2007 1:06am
[quote=mirdaniel;1520353]Hi Soros. ..
Can I ask that you delete or modify the Chart Dimensions as to keep the thread in Page Width? Please.
  • #1,766
  • Aug 2, 2007 2:14am Aug 2, 2007 2:14am
[quote=Bemac;1520604]
Quoting mirdaniel
Hi Soros. ..
Can I ask that you delete or modify the Chart Dimensions as to keep the thread in Page Width? Please.
nope... didn't change anything, just copy & paste directly
  • #1,767
  • Aug 2, 2007 2:18am Aug 2, 2007 2:18am
[quote=soros_junior;1520689]
Quoting Bemac

nope... didn't change anything, just copy & paste directly
That's the prob. You have to change it before you post it. Pls check the Suggested Limits on Images as you attach them.
  • #1,768
  • Aug 2, 2007 2:28am Aug 2, 2007 2:28am
Quoting mirdaniel
Do you think we got finally the reversal towards 1.0900 at least?
Here is what I think... I don't trying to predict price movements, it's just some possible price directions.
Attached File(s)
File Type: pdf USDCAD-02.08.07.pdf   922 KB | 373 downloads
  • #1,769
  • Aug 2, 2007 5:37am Aug 2, 2007 5:37am
easy pickins on them stops within cosolidating 16hrs or trade me thinks
"Millionaires don't use astrology, billionaires do"
  • #1,770
  • Aug 2, 2007 7:18am Aug 2, 2007 7:18am
Quoting mirdaniel
Hi Soros. I need your advice. I know you are very popular and good. I got cut on this pair, yes badly like a real beginner. I still have 2 buys (1 lot each) way up there, back in march and april at 1.1650 and 1.1600. Before that I was doing pretty good until I listen too many analysts on T.V. back here in Canada. Back then we were heading to 1.2000, went into a supposed correction and I bought. I wanted to take a lost into a retracement but went south too quickly. Do you think we got finally the reversal towards 1.0900 at least? Thank you

Hi Mirdaniel

Forgive my question! Have you 2 open positions (Buys) at that prices witouht any protection? You have a big loss...

Excuse me my sugestion...Why you don´t open two sell positions on a peak, and you are playing them? Protect you and your are gaining some money. If you will see that go up, you buy again and when go down you are protected. Excuse my opinion...Like i said is only an opinion and a sugestion...The decision must be yours, and only yours...

At this time i think that we are on a breakout zone. Seems to me (May i be wrong), that a flag is developing. Market is in a sideway. But, i´m not good to read charts, there are many things, that i don´t know, but i´m trying to learn

Good luck to all
  • #1,771
  • Aug 2, 2007 8:30am Aug 2, 2007 8:30am
.0533 entry triggered long
"Millionaires don't use astrology, billionaires do"
  • #1,772
  • Aug 2, 2007 8:43am Aug 2, 2007 8:43am
just banking in on my short from previous post
  • #1,773
  • Aug 2, 2007 8:47am Aug 2, 2007 8:47am
Quoting OrionsWay
.0533 entry triggered long

I only buy on 50% fibo
  • #1,774
  • Aug 2, 2007 8:50am Aug 2, 2007 8:50am
Quoting Forexpupil
I only buy on 50% fibo
have some waiting there as well but not tihinking we are gonna make it that deep, so they can sit if they must
"Millionaires don't use astrology, billionaires do"
  • #1,775
  • Aug 2, 2007 8:52am Aug 2, 2007 8:52am
Orionsway,

I can see this dip below 1.0500
Patience + Humility + Study = Success
  • #1,776
  • Aug 2, 2007 8:53am Aug 2, 2007 8:53am
Quoting DutchTrader
Orionsway,

I can see this dip below 1.0500
Are you seeing this based on a 61.8
  • #1,777
  • Aug 2, 2007 8:57am Aug 2, 2007 8:57am
Quoting cesande
Are you seeing this based on a 61.8
Yep Fibo retracement to around 1.0470ish
Patience + Humility + Study = Success
  • #1,778
  • Aug 2, 2007 9:06am Aug 2, 2007 9:06am
Quoting DutchTrader
Yep Fibo retracement to around 1.0470ish
I agree but also think that 1.0500 is a big psychological number as well.

I have entry limit at 1.0505 SL at 1.0463 and TP at 1.0595 (just under another "100" level.
  • #1,779
  • Aug 2, 2007 9:07am Aug 2, 2007 9:07am
Quoting OrionsWay
have some waiting there as well but not tihinking we are gonna make it that deep, so they can sit if they must

Looking at 4 h chart and seeing regression chanel i see the second flag mast beeing forming, on other hand stochastic appointing sounth, and macd forming a continuos trend and support was reached.

Please correct me if i´m wrong
  • #1,780
  • Aug 2, 2007 9:14am Aug 2, 2007 9:14am
Quoting cesande
I agree but also think that 1.0500 is a big psychological number as well.

I have entry limit at 1.0505 SL at 1.0463 and TP at 1.0595 (just under another "100" level.
Very true, but I would like it at least to get a little closer to 1.0500
Patience + Humility + Study = Success
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