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USDCAD trend reversal?

  • #2,061
  • Aug 30, 2007 1:03pm Aug 30, 2007 1:03pm
Quoting LarryLiles
Daily Chart showing a head & shouder formation

@ 1:42 pm
http://8.15.8.198/gif/GAND_9QBJDemo.gif
:
------------------ -------- -- - ------------ ------------- -----
Larry can you post a chart so we see visually what you are saying?

Thanx in advance
  • #2,062
  • Aug 30, 2007 10:56pm Aug 30, 2007 10:56pm
Possible head & shoulder on daily chart
Attached Image (click to enlarge)
Click to Enlarge Name: Daily Chart Head & shoulders formation.gif Size: 15 KB
  • #2,063
  • Aug 30, 2007 11:07pm Aug 30, 2007 11:07pm
Hi Larry -

thanx for that chart ,

Looks like head and Shoulder Top that you are
illustrating ( Daily Bars )in the post above .
..................................................................
- It's all good ,
Plan your trade !........and Trade your Plan!......
  • #2,064
  • Edited 1:14am Aug 31, 2007 12:32am | Edited 1:14am
Usd/Cad
Which way ? ...........North or South ?

Where do we go ?
---------------------------------
Bears need to close below 0540 , until then there maybe
a strong Double Bottom Formation sitting there watching all of us .......

-----------------------------------------------------
( See charts below ) - Double click on chart to enlarge.
Attached Image (click to enlarge)
Click to Enlarge Name: CAD-8-31-2007-#1.gif Size: 20 KB
  • #2,065
  • Aug 31, 2007 2:09am Aug 31, 2007 2:09am
Just went long USD/Cad at 1.545.

Will buy more if it drops to 1.532.

Will buy more if it drops to 1.0469.

If it drops below that......
  • #2,066
  • Aug 31, 2007 3:55am Aug 31, 2007 3:55am
Quoting yorygog
Just went long USD/Cad at 1.545.

Will buy more if it drops to 1.532.

Will buy more if it drops to 1.0469.

If it drops below that......
how can you buy? when there is no buy signal here.
do you have any chart that gives you hint of going up? or just playing guessing game (gambling).

Anyway today is last day of month and it's friday i better stay out of market as market may move both way.

have a good trade!!
  • #2,067
  • Aug 31, 2007 5:53am Aug 31, 2007 5:53am
Quoting marketwavez
Usd/Cad
Which way ? ...........North or South ?

Where do we go ?
---------------------------------
Bears need to close below 0540 , until then there maybe
a strong Double Bottom Formation sitting there watching all of us .......

Yea, I can find counts for either, but I'm currently keeping an open mind towards both an ugly wave 4 or similiar sideways correction before a push lower OR this whole sideways that people keep calling head and shoulders being the forming of a 1, 2 then a 3 up to come...exceeding the prior high at 1.0867.

Time will tell. Doesn't have to be today, but the news could fuel the move.
Trust price. Know yourself.
  • #2,068
  • Aug 31, 2007 7:30am Aug 31, 2007 7:30am
http://bp1.blogger.com/_I_17e8S66CM/...rs+pattern.gif
http://bp0.blogger.com/_I_17e8S66CM/...aily+chart.gif
Quoting marketwavez
Can you please post a chart so we see visually what you are saying ?
  • #2,069
  • Sep 2, 2007 1:28pm Sep 2, 2007 1:28pm
Being support by 1.0461 previous low, USDCAD bounded from 1.0469 level. Further rise above 1.0866 previous high is still in favor in the next several days. Near term support is at 1.0461, only break below this level will indicate lengthier correction to the up trend. For long term analysis, the pair broke above 1.0757 long term key resistance, and bottomed at 1.0339 on weekly chart. The fall from 1.1874 (Feb 8 high) has completed, and rise towards 1.1500 is expected.
If I Go Broke Trying Then I Will die happy.
  • #2,070
  • Sep 2, 2007 5:14pm Sep 2, 2007 5:14pm
Quoting Moe
For long term analysis, the pair broke above 1.0757 long term key resistance, and bottomed at 1.0339 on weekly chart. The fall from 1.1874 (Feb 8 high) has completed, and rise towards 1.1500 is expected.


I'd like to point out that there was no significant weekly close above 1.0666 nor below 1.0475 yet. Either side has not yet won.

Also keep in mind - USDCAD surging to 1.15 CAN NOT coincide with a rising EURUSD unless EURCAD goes absolutely bonkers, which I'd doubt just now.

So, ahem. A surging USDCAD is identical to a surging USD. Anyone seeing that right now?

I'm not saying I believe in either yet. I am saying both sides are equally clouded for me.
Trust price. Know yourself.
  • #2,071
  • Sep 3, 2007 2:25pm Sep 3, 2007 2:25pm
USD/CAD has been stuck for about 4 months now in a similar range.... when will it end? I say everything is gonna start reversing in October, but for now it'll follow the trend.
  • #2,072
  • Sep 4, 2007 9:14pm Sep 4, 2007 9:14pm
Quoting MoForce
USD/CAD has been stuck for about 4 months now in a similar range.... when will it end? I say everything is gonna start reversing in October, but for now it'll follow the trend.
I put my money on the final 1/3 of September... the reversal in USD/CAD will also dictate moves in other majors

Your Focus Determines Your Reality
  • #2,073
  • Sep 5, 2007 3:42am Sep 5, 2007 3:42am
USDCAD pulled back from 1.0676 to test the support at 1.0461, fall below the level will more likely be seen in a couple of day. The price will find support above 1.0339 previous low, only break below 1.0339 level will signal the resumption of the down trend. For long term analysis, the pair broke above 1.0757 long term key resistance, and bottomed at 1.0339 on weekly chart. The fall from 1.1874 (Feb 8 high) has completed, and rise towards 1.1500 is expected.
If I Go Broke Trying Then I Will die happy.
  • #2,074
  • Sep 5, 2007 6:53am Sep 5, 2007 6:53am
Longs in play again,targeting 1.11xx . looking round 2 of meltdown in Yen, short the carry
"Millionaires don't use astrology, billionaires do"
  • #2,075
  • Sep 5, 2007 7:15am Sep 5, 2007 7:15am
also long @1.0553
Twitter: @forexpokerpro
  • #2,076
  • Sep 6, 2007 8:14am Sep 6, 2007 8:14am
people forgot this thread...

anyone has a position in this pair?
give me my pips back...
  • #2,077
  • Sep 6, 2007 12:43pm Sep 6, 2007 12:43pm
Quoting Lincoln_10
people forgot this thread...

anyone has a position in this pair?

where is Marketwavez ?
  • #2,078
  • Sep 6, 2007 12:58pm Sep 6, 2007 12:58pm
I'm considering taking one long at 547 offered...stop at 495.
  • #2,079
  • Sep 6, 2007 4:31pm Sep 6, 2007 4:31pm
Quoting struggler
where is Marketwavez ?
I'm right here ....... Looking to see
  • #2,080
  • Sep 6, 2007 4:51pm Sep 6, 2007 4:51pm
Quoting marketwavez
I'm right here ....... Looking to see
what do u think marketwaves?

i think it is still going south.
but?
Not confident..................
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