USDCAD trend reversal?

MY AREA OF INTEREST TONIGHT: 1.0025ISH.

WE GOT A DOWNTRENDING 50 EMA & A 50% FIB (12/20-1/18)
PLUS A DOWN TL (12/20 -1/20) LOOKING LIKE A THREESOME

Dtf OF COURSE.
MacD IS GOING UP & RSI IS SLIGHTLY > 50

PROBABLY LOOK FOR BUY ( BUT WANT TO BE CLOSE TO COMPUTER FOR THIS ONE)

Dtf: MacD going up.

Down TL break,

TPP 1.0127.

Beaver: up TL break & MacD < signal ( heading down).

If 84.30 broken than I shall look @ sell with TPP 80.45.

Keep yer stick on the ice!

Major apologies 84.30 SHOULD have been 82.30

Gonna start proofing posts or NOT multi-tasking when posting.

Await break lower 82.00 ( Tues lo) for entry.

80.45 target

Will FOMC give some trade direction?

On TA daily: I'm seeing 12/21 -01/20 down TL was touched today (25th) Hi.

0.9992 was prior support thru Oct/Nov.

STO MacD & RSI still looking bullish.

TL break could give me the 1.0127 TPP

US/CAD buy ( down TL Dec 21-Jan20 breakto upside) Was also a channel last week.

RSI > 50

$ > 50 ema

MacD > sig & X'd up H20.

1st TP 1.0050 then BE stop with 2nd TPP 1.0127.

News suggests strong USD & CHF.

Cad/ CHF was a good sell (& still is)

Love the song " What a difference a riot makes".

Canadian f***mentals were positive.
Commodities rose.
US$ drops.
Risk-on
Stir & voila- an up TL break.

Appears that the 1.0127 TPP ain't gonna happen in this lifetime.
Going back to my BEAR cave & short & hibernate the sell trades.

Wkly chart still has bear bias.

Hi Scarecru, what is your bias now on UC? after price bounce off the previous low? this pair really does doesn't really move

evening Yuan:

Dtf: ema's heading down (9864 support-either bounce up 1.0022 {31 Jan open}) & STO o/s.

However; MacD X'd down below signal & < H20.Also, RSI < 50. Maybe a sell if 9864 break down.

Aud & kiwi might give clue to direction of Loonie.

Keep yer stick on the ice.

Dtf: 9975 point of interest:

50 ema as well as prev support (Nov 5-11)

STO headed up.
If break, then 1.0022 probable

Hello Scarecru, Duce

Haven't made a post in quite some time. Will most likely not be making another for a time.

Came across a book that has the potential to significantly impact your technical trading skills.

It is written by a Trader not a writer, so it can be a difficult read at times. Traders are traders first before being an author. Probably the best book I have ever come across about discretionary trading of price action. ( Tape reading)

"Reading Price Charts Bar By Bar" Al Brooks publisher Wiley

He is a scalper and swing daytrader. Timing is a critical element
in ones trading, Al Brooks puts it on the line.

Thought it was worth passing this one along.

Hope all goes well in your quest,

foto

FOTO: truly great to read you once again!

You have been sorely missed here!

Thanks for the book information- seems to be a different approach then
waiting for whatever, indicator to cross it's signal.

I trust that your health is well?

Going out on a limb- your statement re: further posting:

I hazard a guess that your president is appointing you to one of the vacancies
on the Fed's Board of Governors. This body certainly could use someone of your calibre for direction.

Stay healthy
Stay wealthy
Stay happy
& keep in touch.

If you have any thoughts on when the commodity bubble will burst, I sure would appreciate hearing them.

Still await 9975 break for 1.0012 (down TL 12/21 - 1/31).

If upper channel Resistance holds then retrace to 9870.

BUT indicators suggest that break possible.

Good short on AUD/CAD:

Plan to scalp with target eventually, 9700

Heh Scarecru,

Brooks is of the group that believes if one can preceive who has the upper hand in the market at any particular time Bull, Bear or neither then one can decide to choose the best way to trade the situation.

Welles Wilder had his directional movement index (ADX) but Brooks uses his market experience to make his own call.

The book will not be easily interpreted, but there is a real wealth of perception that can be learned through absorbtion. Just read it, even if it may seem overwhelming at times. The train of thought will reveal itself in its own way.

Please keep in mind that if it works on a small time frame (Brooks trades mostly 5 minute charts) It will also work on longer time frames.

As to the commodity boom ending, personaly I think the Fed is trying to spook cash holders into forced spending. If one doesn't buy hard assets then the Fed will simply debase ones financial holdings.

There is a bearish interpretation to the outcome of all this, but way too early at this point. The reflation will continue as Social stability is apparently more important to the government then unwinding the Welfare State. Geitner's interview is an example as to the time frame for even acting on Fannie and Freddie. 5 - 7 years before reprivitizing the mortgage market. It is a real mess and the government will continue to reflate and the economy will be forced into a whole new price structure.

Still one major election away from all of this to be significantly rearranged.

Probably remains a great time to buy depressed high end real estate. When the realization comes that there is most likely no going back, might even trigger a buying panic in that market. A jewel will always be a jewel.

Just an opinion, but best guess as to what is going to be the future.

In the mean time just turn on some country music or some classical or possibly some mindless rock and roll. Thus reserving the clear mind to do the analysis.

Gotta go now,
good luck

i am still short. in mid/long term i cant see any signs of week CAD
in my opinion any up moves at 1,00 -1,02 should be seen as sell opportunities.
good luck fellows and see you on my blog

what's ur blog?

hi scarecru, sorry i nv get to ask you, but what's STO? anw do you trade other pairs?

cannarek.com

Evening Yuan: STO is slow stochastics ( when O/S then a retrace usually)
Like it on the 4H tf.

Aud/US Aud/Y Cad/Y NZ/US NZ/Y mainly.

Cannarek's last post was my take tonight.

Support @ 9870 may be retrace to 9975ish (50 ema on Dly.
$h has STO o/s but MacD is < signal & H2O.

Bearish me.

E/CAD good short opp