USDCAD .. One New ALERT!! | Forex Factory

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USDCAD .. One New ALERT!!

  • #1
  • First Post: Feb 4, 2007 10:49pm Feb 4, 2007 10:49pm
Hi all

USDCAD now is 1.1848 , last week it closes above %50 Fibo which also made a good resistance for 8 days and now weekly and daily close above it . I recommend to buy @ 1.1835 with stop @ 1.1780 and target 1.1970 .

happy trading

Karisma

http://www.forexfactory.com/attachme...1&d=1170650855
Attached Image
Don't Look for the 2nd action
  • #2
  • Feb 5, 2007 2:37am Feb 5, 2007 2:37am
Excuted @ 1.1835
Don't Look for the 2nd action
  • #3
  • Apr 12, 2007 10:59pm Apr 12, 2007 10:59pm
Time to buy USD/CAD ? ? ? It's sitting at some support right now, if broken the next level to keep an eye for is 61.8% retracement @ 1.1290/1300.
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  • #4
  • Apr 12, 2007 11:26pm Apr 12, 2007 11:26pm
Quoting Karisma
Excuted @ 1.1835
Interesting...you don't have the usual legal warning accompanying your recommendation.
  • #5
  • Apr 19, 2007 5:19pm Apr 19, 2007 5:19pm
The pair broke below previous low on better than expected CPI data , but was met with strong demand around 1230 where rumored bids were placed. The fact that it couldn't break the support makes me think that we might've reached the short term bottom. Additionally there is resistance trendline sitting at 1315/25 with stop loss orders above.

It should be interesting to see how it goes .
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  • #6
  • Apr 19, 2007 5:58pm Apr 19, 2007 5:58pm
As far as I can see, the down trend, is still lwell in place (though may be slowing a bit on shorter time frames, however); we haven't broken through the 2 std line off the leading indicator on a 28 day period...The red and yellow lines measure the contribution to the leading indicator from the consistent bars, the yellow is from the jumps. The leading averager is in light blue, I've found it to be very consistent. (it's essentially the track of the endpoint of the Metatrader STD channel as you move it along the path; the std's are calculated a little differently).
http://gammarat.com/Forex/30070420/usdcad20070419.gif
  • #7
  • Apr 20, 2007 8:29pm Apr 20, 2007 8:29pm
Quoting HalifaxCB
As far as I can see, the down trend, is still lwell in place (though may be slowing a bit on shorter time frames, however); we haven't broken through the 2 std line off the leading indicator on a 28 day period...The red and yellow lines measure the contribution to the leading indicator from the consistent bars, the yellow is from the jumps. The leading averager is in light blue, I've found it to be very consistent. (it's essentially the track of the endpoint of the Metatrader STD channel as you move it along the path; the std's are calculated a little differently).
http://gammarat.com/Forex/30070420/usdcad20070419.gif


I completely agree, this trend is no where from being done. What I see on the daily charts, major support is at 1.0923 and I seriously don't this support level holding and if you look at the weeklys forget about it... If I were trading this pair, I would go with the trend and forget about trying to pick the bottom.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd-cad daily.jpg Size: 41 KB
Click to Enlarge Name: usd-cad weekly.jpg Size: 33 KB
  • #8
  • Last Post: Edited 10:49pm Apr 20, 2007 10:45pm | Edited 10:49pm
Quoting ckny74
I completely agree, this trend is no where from being done. What I see on the daily charts, major support is at 1.0923 and I seriously don't this support level holding and if you look at the weeklys forget about it... If I were trading this pair, I would go with the trend and forget about trying to pick the bottom.
Plus a good bottom takes a while to develop, so if it looks like its happening, there's lots of time to get it figured out w/o losing too much...btw, it's funny how that little bump on the bottom of your weeklies is what we are all about. Nice chart, puts things in perspective
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