USDCAD trend reversal?

Just go to restaurant and "eat" this money out. It is better for your health than loosing money again listening to an advice of others

just buy USCAD.. is it good thing..after bought it, suddenly felt that... hmm
need help about where this pair is likely to go.. needs light of guidence

no one trading the employment news for this pair?

pa very slow suprisingly

I bought at 0.9776 yesterday.....

Hope the support holds.

Targeting 0.9900 next week. Don't think it could be hit today.

For whatever it is worth.
Global growth versus global slowdown continues to dominate the outcome of the sovereign debt crisis in Europe. Slowdown means debt default as without growth the debt is unpayable.
Governmental intervention has hit the brick wall. Interventionist governments (US, China, Germany, France, India) can do no more without they themselves in trouble domesticaly. For nothing is free and any policy initiated has someone on the paying end upset.

Safe harbor currencies will continue to benefit, as those nations with great military might and self sufficent natural resources will be islands of tranquility. The Globalists are on the wrong side of history.

International conflict rises in probability as economic dislocation intensifies. We are entering the next phase of the financial crisis. It never went away but was glossed over, market forces that cannot be swept under the rug are still very much in play.

I will continue to trade this theme but am paying greater attention to volatility. Bollinger band of 2 or 2.5 std deviation around the 20 sma on the weeklies and dailies are demonstrating market decision areas.
When growth themes capture the markets attention and price gets pushed to volatility extremes, these areas become entry levels that are low risk.

Bulls and Bears will always butt heads as it is ideas we trade, and money is placed behind those ideas.

Price action still retaines preeminance over ideas. For there are thousands of factors in market price discovery.

Trade themes for well thought out positions are not easily reversed real time. Some daytraders can trade both sides, but in this mind that is a difficult thing to do.

Longer term traders are better suited to trade from one side exclusively. This allows for entries at extremes where price risk is lowest. Overextended Bulls or Bears make for strong moves.

http://lcchong.files.wordpress.com/2...ng?w=877&h=398

http://lcchong.files.wordpress.com/2...ng?w=877&h=397

what im looking at

short @ 9796..its look like lower lower to me.. BEAR in POWER NOW!!!
Anyone with this trade

+30 pips and still counting

Long Limit order in @ 0.9719.

Was doubting my 9729 sell (9660 tp)

But Dly BBs opening ( more volatility) STO & MacD down.

Gonna watch May31 supp @ 9673

No BoC rate hikes

The up TL ( May 11- June 10) was broken & Wkly RSI <50.

Bias for me is sell. ( Course I also predicted C'nucks to win Stanley)
Damn Boston: 1st they screw the Brits wrt their Tea tax; now they be trying to screw the Canucks. So upset, that I would vote for B.O.

Heh Scarecru,

How is the elliot wave analysis going? Am curious if it gives you any tradeable info.

Hockey continues to be more important then the markets, I agree wholeheartedly.

Truly wish we where going back to the days of rising interest rates from stronger economic growth, but alas we are a long way from seeing that again.
Blind mans bluff is what we are trading now.

Good luck to you.

Evening FOTO:EW helps some; however, days like today every tool goes out the window ( heck, even your BBs were touched on the Dly)
I closed my Cad short & longed it; sold Oz, KIWI G/Y G/CH E/Y E/CH ( kept hearing "The Love Boat" theme song -" risk-aversion's in the air....")

Going to save some time & only trade in front of computer; as you stated, blind man's bluff is the flavour recently.

Keep yer stick on the ice

Word of caution, watch out for trading emotionally. Example is reading a news article, putting on a trade with a knee jerk reaction.

George Orwell. " In a time of universal deceit, telling the truth is a revolutionary act."

So much for that one.

shooting star on usd cad h1 !

i would rather wait for market to cool it self before enter the market...

As we are in retracement mode...

Olu

FOTO: Beauty quote (alas; too true)
No knee-jerking (learned the hard way waaaay back). When in front of screen use 4H & H rsi's ( when the 15Min follows then I trade for small gains).

Utilize this time ( 7-9 p.m. est) to look for Dly probables.

e.g. U/Cad: BB's narrowing.Heck of an upwick on today's candle!($ touched the 200 ema). $ @ top of May 23-present channel. MacD heading down & STO down as well (possible -ve div?)

Do you recall your Grasshopper/Ant analogy?(a few years ago, I guess).
Do you think that this could apply to Greece?

Long term bias not news based; but BDI interpretation. ANTS beginning to win.

History repeats.
Ancient Greece went through a time where everyone was so in debt that there were actual posts/monuments constructed by the debt holders on peoples lands signifying the mortgage.
The debt burden got so bad that crisis occurred. Then came an event called
"The shaking off of debt burdens" instituted by Solon of Athens

The Bible talks about the Year of Jubilee, every 50 years all debt was repealed.

The losers were the bankers. Todays equivalent is the Keynesian theologists, who think prosperity is purchasable by a credit card.
I think the world has once again reached unsustainable debt levels.

There is no political fix for this to be stopped. No one will pay the taxes to support bank debt and keep the financial system whole.
Debt liquidation is inevitable and the system must reboot.

This is a tradeable scenario and well documented throughout history as having occurred.

When the market pushes prices the other way and the volatility extremes are being sold into by real money. That is the low risk entry that is desirable. Longer term charts such as the weeklies do reflect deeper movements in price. This does require patience and not jumping in and out.
But these are currencies of nations not hoola hoops for sale, so the scope of time is larger.

Nothing is for certain and price action must be the guide. But history does say that debt slavery is unsustainable and leads to political upheaval.
History is not something that is easily repealed.

I just think the debt repeal is closer at hand in Europe then in the US. With wide repercussions in the commodity currencies. Commodities are being bulled by debt not by real demand/supply

Draw your own conclusions, and trade from them.