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USDCAD trend reversal?

  • #2,261
  • Nov 6, 2007 3:33am Nov 6, 2007 3:33am
Quoting mry2001
I just started buying at 0.05/0.1 lot scale and in next 3 month I will accumulate 3 lots. It is interesting to see the outcome. In case my balance runs low, I will add fund.
The outcome will not be in your favor. I see a decent chance of rate hike by Bank of Canada in the forseeble future.
  • #2,262
  • Nov 6, 2007 3:34am Nov 6, 2007 3:34am
Quoting mry2001
I just started buying at 0.05/0.1 lot scale and in next 3 month I will accumulate 3 lots. It is interesting to see the outcome. In case my balance runs low, I will add fund.
Just transfer the money to my account, it's faster. Thnx!
  • #2,263
  • Nov 6, 2007 3:59am Nov 6, 2007 3:59am
Quoting mry2001
I just started buying at 0.05/0.1 lot scale and in next 3 month I will accumulate 3 lots. It is interesting to see the outcome. In case my balance runs low, I will add fund.
I am very curious as to what exactly has made you go long in such a stainless steel downtrend?
  • #2,264
  • Nov 6, 2007 6:48am Nov 6, 2007 6:48am
I'd say that selling rallies above 93 is the more profitable way to go especially with oil/gold up, but I'm not a 1kt guy so what do I know :
Patience + Humility + Study = Success
  • #2,265
  • Nov 6, 2007 6:52am Nov 6, 2007 6:52am
Add me to the list of USDCAD casualties.

I haven't gone long the dollar for more than a day in 3 months, and I picked now to long USDCAD. Gave back some profits, which always hurts, but this was a litmus test for me. I will be watching markets, but too much uncertainty to make good decisions. I gambled, and lost, which is okay in small doses .

Good luck.
  • #2,266
  • Nov 6, 2007 7:06am Nov 6, 2007 7:06am
Looks like a 9200 test to me in U/C
Patience + Humility + Study = Success
  • #2,267
  • Nov 6, 2007 7:09am Nov 6, 2007 7:09am
cad housing came out lower than expected and PMI came out cad positive. not seeing a big movedown yet...would think it would have ran to test 9235 if not taken it out already for 9200.
...go figure.
  • #2,268
  • Nov 6, 2007 7:10am Nov 6, 2007 7:10am
on the flipside, minor dbl top at 9285 area so u have to bet on downside testing with this thing...
  • #2,269
  • Nov 6, 2007 7:16am Nov 6, 2007 7:16am
9200 is approaching, on the hourly there's been some resistance at 9242
Patience + Humility + Study = Success
  • #2,270
  • Nov 6, 2007 7:32am Nov 6, 2007 7:32am
Quoting DutchTrader
9200 is approaching, on the hourly there's been some resistance at 9242
So we made a new low at 9234 but bounced off that after some mixed Cad data and oil and gold on the up. back down we go towards 9200
Patience + Humility + Study = Success
  • #2,271
  • Nov 6, 2007 7:38am Nov 6, 2007 7:38am
test coming now...
  • #2,272
  • Nov 6, 2007 11:40am Nov 6, 2007 11:40am
Funny that this thread has "reversal" in its title... hope nobody's long on this thing.
  • #2,273
  • Nov 6, 2007 11:51am Nov 6, 2007 11:51am
Quoting Subdude
Funny that this thread has "reversal" in its title... hope nobody's long on this thing.
Unfortunately, there is a majority of retail long on this, I have no idea what these traders are thinking. Although it looks like it went from 75% to 70% net long recently, that's a good sign.. At least retail is on the right side of the Aussie trade.
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  • #2,274
  • Nov 6, 2007 6:48pm Nov 6, 2007 6:48pm
"Inversal"

anybody got a few Ameros to spare?

lol
  • #2,275
  • Nov 6, 2007 10:06pm Nov 6, 2007 10:06pm
Quoting MoForce
Thanks.....

wheeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee! 1!!!!!!!!!!!!!!!!!!!!11111111!!!!111!!!!1!1!!!!!!!!11111

I knew it all along. I'm proud of u Canada! Well I guess we'll have to see the next couple days to see where this is heading now. I don't think it'll go beyond 0.88 but it may go to that level after some retracement and sideways movement
That's what I posted on Sep 20, 2007 10:12pm

That's workin out pretty well
  • #2,276
  • Nov 6, 2007 10:15pm Nov 6, 2007 10:15pm
how true!
  • #2,277
  • Nov 6, 2007 10:18pm Nov 6, 2007 10:18pm
Quoting MoForce
That's what I posted on Sep 20, 2007 10:12pm

That's workin out pretty well
Ah, didn't know you had a hedge-comment in place when you made that trend reversal claim last week some 400 pips ago, well played
  • #2,278
  • Nov 6, 2007 10:20pm Nov 6, 2007 10:20pm
Quoting Trader KGB
Unfortunately, there is a majority of retail long on this, I have no idea what these traders are thinking. Although it looks like it went from 75% to 70% net long recently, that's a good sign.. At least retail is on the right side of the Aussie trade.
It is actually called, Contrarian psychology. Check what the hapless retailers are doing and go opposite.

There is some truth to the Contrarian Psychology. Since there are so much LONG, it implies that these people have no more ammo to keep buying, the SELLERS have all the reserve. And in the war of BUY/SELL, the more ammo wins. In this case, the SELL has more ammo to shoot at the bulls.
  • #2,279
  • Nov 6, 2007 10:21pm Nov 6, 2007 10:21pm
Quoting Trader KGB
Ah, didn't know you had a hedge-comment in place when you made that trend reversal claim last week some 400 pips ago, well played
Thanks! I'm still in favor of a reversal but I still have a short target
  • #2,280
  • Nov 7, 2007 12:22pm Nov 7, 2007 12:22pm
Went cautiously short @ 0.9265. Let's see what develops here.
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