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USDCAD trend reversal?

  • #4,141
  • Jul 6, 2011 10:13am Jul 6, 2011 10:13am
Quoting KillerWhale
Yeah , you must be a millionaire by now, like all the rest of the people on this forum.

lol, best thing I've read all day. I am long as well Killer, tp 9800 it sure is taking it's old sweet time
  • #4,142
  • Jul 6, 2011 10:22am Jul 6, 2011 10:22am
I'm right most of the time also, but when I'm wrong........., I'm really wrong!
  • #4,143
  • Jul 6, 2011 11:03am Jul 6, 2011 11:03am
Quoting frothy
I think this is a usd/cad headfake. it will go down further..like the rest of the turds. I am usually 85 to 90 percent right on my analysis
Headfake? lol.. Price never goes straight down or up.. a little down a little up and so on and so on.. Unless your scalping for pips you need alot of patience and the U/C to me seems to have about a 4-6 week cycle from highs to lows and visa versa..

Maybe this pair will slip back into a similar range of 400 pips up and 400 pips down as it did for alot of last year, which was easy money..

Cheers
  • #4,144
  • Jul 6, 2011 1:01pm Jul 6, 2011 1:01pm
Quoting kimd
lol, best thing I've read all day. I am long as well Killer, tp 9800 it sure is taking it's old sweet time
Don't tell me you're not a millionaire yet after more than 2 years on this forum
(grin)

Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
  • #4,145
  • Jul 6, 2011 2:26pm Jul 6, 2011 2:26pm
Quoting KillerWhale
Don't tell me you're not a millionaire yet after more than 2 years on this forum
(grin)

Shamu

Not quite but I have to admit I have been doing much better since I stopped reading most of the threads here. This seemed to be one of the tamer ones.
  • #4,146
  • Jul 6, 2011 4:37pm Jul 6, 2011 4:37pm
Quoting kimd
lol, best thing I've read all day. I am long as well Killer, tp 9800 it sure is taking it's old sweet time
Just be careful, it might not get above 0.9706 / 0.9708 or so resistance , then first down to ............................0.9444?

S
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  • #4,147
  • Jul 6, 2011 4:48pm Jul 6, 2011 4:48pm
Yes, its struggling, and I am a bit surprised with all the euro drama but the Canadian economy just keeps on moving forward. Same with Aussie and NZD ,just refusing to fall. Gold and silver are still rallying as a safe haven. Still thinking the H4 looks bullish and I am hoping the US dollar gets stronger (can you tell I am more of a fundalmentalist?)
  • #4,148
  • Jul 6, 2011 6:59pm Jul 6, 2011 6:59pm
Quoting foto
Hello Scarecru,

Until I see a true change of direction in Euro/CHF that indicates real money is coming out of safe harbor the rest is market reaction to ongoing government interventions. Wealth has never been created by spending borrowed money.
Nations wealth comes from savings and investing not by runaway deficits.
.
USD index remains technicaly as having made a bottom.

Have a good week.
Evening FOTO: when I look @ wkly, mthly E/Ch, E/Y,G/Y, G/CH "patient sells" a good mantra. Not getting emotional wrt "news" has abetted my trades also.

mellon bank of ny had an interesting article today re: OZ and sidebar view of the Loonie that suggests they may not be "tied at the hips" near to mid term.
Congrats- I heard coming in that yer B.O. made history as the 1st. president to "twitter" or "tweek" or whatever the terminology be.
Ranks right up there with "landing on the moon" for T&A ( technology & advances for mankind).

Now we gotz North Korea getting a U.N. nod to join some humanitarian
or peaceful coexistence committeeI guess that makes as much sense as the Euro getting stronger.

In my limited cerebral capacity, I'll just go to the mthly for trend & wkly for
entries.

Keep yer stick on the ice.
  • #4,149
  • Jul 7, 2011 3:39am Jul 7, 2011 3:39am
short at supply area (blue box)
Attached Image (click to enlarge)
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  • #4,150
  • Jul 7, 2011 6:40am Jul 7, 2011 6:40am
Curious where we will be going from here,
4 hour will close in 20 minutes, below the Gann Hilo?
Just watching carefully.

S
Attached Image (click to enlarge)
Click to Enlarge Name: uc 4hr 07-07-11.gif Size: 26 KB
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  • #4,151
  • Jul 7, 2011 8:24am Jul 7, 2011 8:24am
one of these crazy cad moves
from here it can go down to .95 or back up to .968 again
so i just watch stay out for today
  • #4,152
  • Jul 7, 2011 9:23am Jul 7, 2011 9:23am
its going to drift down to .94 again..then make its way to 1.10
Don't be fooled by randomness
  • #4,153
  • Jul 7, 2011 9:55am Jul 7, 2011 9:55am
Quoting frothy
its going to drift down to .94 again..then make its way to 1.10
Would be nice if you could explain why?
I mean you are always right so if I follow you i could make 1,000% on my account value in the rest of this week. And 10,000% next week!!!!!!!!!!!!
Thank you sooooo much for giving me that chance!!!!!!!!!!!!!!!!!
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  • #4,154
  • Jul 7, 2011 6:40pm Jul 7, 2011 6:40pm
Hi

Killer bro,

I am long on USDCAD since couple of days but this morning(eastern time zone) it went down like crazy. Is there any chance of coming up, please advise

thanks
  • #4,155
  • Jul 7, 2011 7:04pm Jul 7, 2011 7:04pm
Quoting ssaqeel

I am long on USDCAD since couple of days but this morning(eastern time zone) it went down like crazy. Is there any chance of coming up, please advise
Of course there is a chance of it coming up.

Job numbers come out in the morning.

Keep in mind that the drop Thursday morning coincided with the ADP release, one that was surprisingly pretty good or at least better than expected.
  • #4,156
  • Jul 7, 2011 7:12pm Jul 7, 2011 7:12pm
Yes job numbers out tomorrow, predicting modest growth for Canada, the tricky part here is US numbers - Bad US data the loonie may retreat or continue, good US data and again the loonie may retreat... Thats the trouble with trading this pair, it doesn't always act like you think it should.

Look at the daily chart, classic continuation pattern.. but of course anything is possible. If I were a betting guy, I'd say .9475.. oh yes that's where my TP is.. haha
  • #4,157
  • Jul 7, 2011 8:06pm Jul 7, 2011 8:06pm
Quoting Astroman
Of course there is a chance of it coming up.

Job numbers come out in the morning.

Keep in mind that the drop Thursday morning coincided with the ADP release, one that was surprisingly pretty good or at least better than expected.
More than "a chance of it coming up" I'd speculate. In fact, my feeling is the spike down, on unremarkable volume considering the size of the drop, was sheer price manipulation to the downside for the sole purpose of attaining the lows again to close shorts and scour for longs. More trading was done immediately after the lows, than at the highs immediately before the spike down! This was nothing more than price manipulation ahead of the USD high impact releases later today, positioning the price so the market movers could get better pricing on long acquistions ahead of the releases.
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  • #4,158
  • Jul 7, 2011 8:56pm Jul 7, 2011 8:56pm
Thanks everyone for the views
  • #4,159
  • Jul 7, 2011 9:50pm Jul 7, 2011 9:50pm
Quoting Cdawg
Yes job numbers out tomorrow, predicting modest growth for Canada, the tricky part here is US numbers - Bad US data the loonie may retreat or continue, good US data and again the loonie may retreat... Thats the trouble with trading this pair, it doesn't always act like you think it should.

Look at the daily chart, classic continuation pattern.. but of course anything is possible. If I were a betting guy, I'd say .9475.. oh yes that's where my TP is.. haha
"Betting" on a currency? I don't think that is a wise point of action.
That would make currency trading equal to gambling.
Let me tell you one thing, I used to go to casino's and had a lot of fun.
Since I discovered forex I've not been to a casino anymore, BECAUSE FOREX IS NOT BETTING.
I do think that we might end up getting a double bottom @ 0.9444 but we'll see. 0.9512 as target first?
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  • #4,160
  • Jul 8, 2011 4:24am Jul 8, 2011 4:24am
Quoting masut
short at supply area (blue box)
update
Attached Image (click to enlarge)
Click to Enlarge Name: ucad.gif Size: 12 KB
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