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USDCAD trend reversal?

  • #1,921
  • Aug 14, 2007 8:24am Aug 14, 2007 8:24am
USD strength all over the place
  • #1,922
  • Aug 14, 2007 9:52am Aug 14, 2007 9:52am
yes longs are doing just lovely
"Millionaires don't use astrology, billionaires do"
  • #1,923
  • Aug 14, 2007 11:20am Aug 14, 2007 11:20am
Nice move
Good trading day
made 140 pips, exit at 1.0645, will long again around .0600
  • #1,924
  • Aug 14, 2007 11:47am Aug 14, 2007 11:47am
What a beautiful H&S Pattern

The confirmation to go LONG after penetration of 1.0675

Target will be 1.1000 (( 325 pip ))

See you guys at 1.1000

http://www.tdwltoday.com/vb/uploaded/1_01187110018.gif
  • #1,925
  • Aug 14, 2007 11:54am Aug 14, 2007 11:54am
Falcon,

It hasn't broken 1.0675 yet
Patience + Humility + Study = Success
  • #1,926
  • Aug 14, 2007 11:58am Aug 14, 2007 11:58am
Quoting Falcon eye
What a beautiful H&S Pattern

The confirmation to go LONG after penetration of 1.0675

Target will be 1.1000 (( 325 pip ))

See you guys at 1.1000

Dont forget the usual serious pullback from such a pattern beware
  • #1,927
  • Aug 14, 2007 11:59am Aug 14, 2007 11:59am
I know

(( go LONG after penetration of 1.0675 ))
  • #1,928
  • Aug 14, 2007 12:06pm Aug 14, 2007 12:06pm
Quoting bobblong
Dont forget the usual serious pullback from such a pattern beware
according to EW , UC has finished 5 waves , so we just start new up trend

There is some resistance we should be aware of it , but i suppose UC has began up trend for medium term
  • #1,929
  • Aug 14, 2007 12:07pm Aug 14, 2007 12:07pm
I've been burned by this pair 4 times in a row within a week

I do not follow any kind of EW projections
  • #1,930
  • Aug 14, 2007 12:08pm Aug 14, 2007 12:08pm
Quoting bobblong
I've been burned by this pair 4 times in a row within a week

I do not follow any kind of EW projections
I follow Crude oil and risk aversion.
Patience + Humility + Study = Success
  • #1,931
  • Aug 14, 2007 12:12pm Aug 14, 2007 12:12pm
Quoting bobblong
I've been burned by this pair 4 times in a row within a week

I do not follow any kind of EW projections
OK

H&S is a signal for trend reversal

and try to use EW with daily and weekly chart ( dont us 1h or 4h )
  • #1,932
  • Aug 14, 2007 12:22pm Aug 14, 2007 12:22pm
Quoting DutchTrader
I follow Crude oil and risk aversion.
Noted

Quoting Flacon_eye
and try to use EW with daily and weekly chart ( dont us 1h or 4h )
My strategy is mostly based on statistical data rather than on the unknown future (See thread Statistical Probability Trading with Price Action)

And btw look back a little you will see several of these good looking H&S Bottoms that have failed miserably on the weekly with respect to overall trend change
  • #1,933
  • Aug 14, 2007 12:22pm Aug 14, 2007 12:22pm
Just buy dips and hold for a very long time
"Millionaires don't use astrology, billionaires do"
  • #1,934
  • Aug 14, 2007 12:25pm Aug 14, 2007 12:25pm
Quoting OrionsWay
Just buy dips and hold for a very long time
You're not using stops right? Personally I can't do that..
  • #1,935
  • Aug 14, 2007 12:30pm Aug 14, 2007 12:30pm
Quoting bobblong
You're not using stops right? Personally I can't do that..
Right stopless, if the trade isnt going to work it isnt going to work, but being SUCH A LONG DOWN TREND YEAR AFTER YEAR it isnt going very far too fast from here noone left to sell it.
Another great perspective to gunning for tops bottoms once they are in its a no brainer until the market changes and that doesnt happen in 72hrs so think should be OK

Once u get a lead on it u dont really need a sl, they are to protect u if the market changes structure, so now exits are a consciousness of their own, whenever u choose a level.
"Millionaires don't use astrology, billionaires do"
  • #1,936
  • Aug 14, 2007 1:38pm Aug 14, 2007 1:38pm
Quoting bobblong
Dont forget the usual serious pullback from such a pattern beware
how can we calculate the pull back ?
  • #1,937
  • Aug 14, 2007 1:42pm Aug 14, 2007 1:42pm
Pullback is usually back to the neckline of the pattern

Murphy's book on TA is really a great resource for this stuff.
  • #1,938
  • Aug 14, 2007 2:18pm Aug 14, 2007 2:18pm
usdcad look interesting atm.
BAM BAM BOOM! -bravado
  • #1,939
  • Edited 4:45pm Aug 14, 2007 2:38pm | Edited 4:45pm
http://www.partybox.co.uk/data/image...005invite2.jpg

holy usdcad batman!
BAM BAM BOOM! -bravado
  • #1,940
  • Aug 14, 2007 2:39pm Aug 14, 2007 2:39pm
she's back from the long weekend
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