USD/CAD

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

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

I trade the daily charts - well because I got a good system working on it and it can bring me about 1000 pips a day from about 7 pairs.

There is a strong downtrend bias on the USDCAD as per the image attached.

TDI looks to cross over from uptrend (profit taking) to downtrend
Fibonacci retracement confirms profit taking and is not able to break far from 61.8 - another signal for downtrend bias.

Williams percentage range looks over bought.

Only thing to wait for is the signals from all charts to change bias.

What you guys think??

My 2 cents worth.

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

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

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

Possible TL testing, Long as per chart.

let the market decide.

SL hit, the market has decided.

Sold on possible breakout of the triangle at 0.9870. sl - 40 pips?
however, will watch for an entry at the top of the triangle

http://3.bp.blogspot.com/-w1NY8cpdOG...e+triangle.png

Hi Traders
Here’s a quick topic for your revision and discussion.
As you can see on the chart USDCAD is slowly closing its 2-week downtrend triangle formation.
Usually, price breaks similar formations with a dynamic movement.
Has anybody has any suggestion on where will USDCAD break the triangle?
I think it will hit south through the bottom...
It's a perfect scenario for so called "stop-loss hunters"

Pink line is a very strong support line @ 0.9780.

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

Closing in on the decision zone (triangle), I'm anticipating a move to 0.9580 if the market brakes my support. Not sure what to make of the market though given the news tomorrow morning (corporate profit CAD). Your thoughts ??

anyone else with this in mind?

Hi Ramses
Interesting and courageous idea, but I wouldn’t go so far in my predictions.
I think we’ll see a small retracement in next few hours.
About 1% possible profits to grab going short before Ben Bernanke speech.
If USDCAD supports its tough 0.9780 level maybe we can start looking further north.
But if it fails I’d expect the price moves to 0.9700 area pretty soon and we can forget about any price above 1.000 for a loooong time.

wrong, nice try though bud

http://lcchong.files.wordpress.com/2...ng?w=877&h=396
http://lcchong.files.wordpress.com/2...ng?w=877&h=397

Watching this one.

Low 0.97's and I will be considering going long...if it ever gets there.

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

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

i have the similar view as your, chong.
last fri candle shot up alot after IB-False Break-IB and NFP announcement.
it returns to the range.
let's see how the market wants this pair to go after this week.
cheers

p.s. u have a nice investment web site. keep up the good.

this is looking very bullish. All indicators are bullish on most timeframes. Looking for a smalll retracement to enter long!!!

Well guys, against your suggestions I can see USDCAD bearish…
It’s been consolidating on long-downtrend line (RED) and if it’s supported I can see a pretty nice move below it’s previous lows.
If broken, possible move to 0.99200 and then return south.
We’ll see later on…

Upward