USDCAD trend reversal?

Quoting pujolshomerun

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Forex sucks. It always goes against me. I have been in long since it was 1.05. I thought it would reverse. But it kept going down and down. I finally decided to close my positions when it was 0.92. I lost $2500 but I really thought I will go down more. So I closed my position and sold more and more usd/cad. And
it is now going up right after I closed my position and sold usd/cad. WTF. I'm losing another $800 now. I just hate this. I hate Canada. This country should be ruined and usd/cad should go up to 10.00

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Quoting fx_amateur

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Well , the question is what you think the trend
with USD/CAD is? My opinion is that it is a downtrend and it has been a downtrend for a long time , for many many months so if you continue taking countertrend positions you are not very likely to succeed ever

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Quoting byorkFX

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Joey,

I don't want to put words into Bob's mouth, but I'm guessing that we was not saying that it was a pivot in the bearish direction, but rather that your stop could have been placed below the pivot (or more likely 0.9500) to avoid the $8000 loss when it turned out to be more than a bounce off of the support and the bearish trend continued.

I'm still very new at this (this is my first post at FF), but hopefully you'll stay in the game and get help from all the great traders that post at FF. I would definitely agree with Bob that checking out the James 16 Chart thread is an excellent place to start (definitely read the WHOLE thing - it's worth it). Due to my lack of experience, my charting knowledge might be minimal and blown off by some, but I'm hoping my support will be accepted since the support shown by most traders at FF is why I love these forums so much.

Keep a positive attitude and good luck with your trading!

-Brian

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Quoting bobblong

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joey: Looks like the long term trend may be in question at the moment.. it's all reflected in the price action.. a Daily Bullish Outside Bar was broken and hip tri li li li li we have an upsurge on break. On the weekly we see a pinbar, it was a mighty fine one too.. Forget about trying to make money right now.. learn to define the price action. We gave you the where and the when is now.

Subdude: China shmina and astrological anomalies don't matter.. opportunities to ride this upmove presented themselves.. not taking advantage of that is like losing, IMHO. Everything that happens behind the scenes is reflected on our screens

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Quoting joey007

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thanks. I would like to trade in the established down trend.
at what price to enter this down trend without being burnt due to retracements?
how will I know whether a retracement is a retracement or whether it is a start of a trend reversal?

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Quoting marketwavez

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What do you think ?............
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Usd/Cad - Was Today's rally a Short Covering Rally ?


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( Double click on chart to enlarge )

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Quoting Subdude

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What pivot points do you guys have for this one? IB screws up closing prices often, so according to them the midpoint is @ 0.9610, and R1 is 0.9790.

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Quoting pujolshomerun

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I hate Canada. I am in Canada but I have to say this.

There are so many car jackers and burglars. Why are there so many car thefts? Vancouver is auto crime capital in North America. 6000 cars were stolen and 12,000 cars were bronen in just in Vancouver and Surrey last year. Just three months ago an a$$hole broke in my car and stole my streao system. I called the police and they just asked my address and when it happened. And that was it. WTF? A friend of mine got his car stolen a year ago and the other's car has been broken in twice. A year ago, I just read an article and a man who stole more than a hundred cars was sentenced just six months in prison. It is just so gay. I'm sick of it.

Many of the burglars do these to buy drugs. Of course there are many drug addicts in the States but it is nothing compared in Canada. The police here are stupid. My neighbours were openly smoking pot a few months ago and I called the police and they just told me it is not illegal in Cadada. WTF. The RCMP is just stupid. I saw them pulling a carjacker over. They didn't even handcuff him until the car was towed and they even let him smoke cigarettes.

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Quoting Yours Truly

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You hate the country because you've lost money betting against the CAD and now you have your car stolen. Do everyone a favour and leave please.

You probably constitute a huge portion of that infamous '95% of forex traders lose their money' category and i'm glad to take away hard earned money from you folks.

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Quoting Miguel

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Definitely a trade gone wrong, maybe a margin call... bitterness is awful

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Quoting Forexpupil

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Hi Good morning


Look GBP/USD. USD/CAD moves on opposite side. If GBP/USD comes down, USD/CAD go up.

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Quoting DutchTrader

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USD/CAD got slapped down quite nicely at the 9700 level.

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