Monthly & Weekly still looking bullish.
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- #6,281
- Sep 11, 2014 8:54pm Sep 11, 2014 8:54pm
- Joined Dec 2012 | Status: On Life's Path | 2,076 Posts
- #6,284
- Sep 14, 2014 1:49pm Sep 14, 2014 1:49pm
- Joined Sep 2013 | Status: Trader | 2,999 Posts
"W. D. Gann said that time is the most important factor among all things."
- #6,287
- Sep 16, 2014 3:44am Sep 16, 2014 3:44am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
This is my analysis for Usd/Cad on the daily chart. My long term bias is long and this follows the general trend for dollar strength across the market. By my definition this pair is in an up trend on the monthly and weekly charts and this is the daily:
You can see a small correction yesterday from a massively bullish week last week. It may be that correction will touch the 38.2%, just under 1.1, but there is a bullish sentiment here and so the cursory stab at the 23.6% at 1.1030 may be all we get for now.
I continue to buy on dips and there will undoubtedly be some profit taking in the area marked grey above - the March highs - the Year Highs - but as we are approaching that level again neatly off a 38.2% pivot point I don't see that will be a problem for longer term traders like me.
You can see a small correction yesterday from a massively bullish week last week. It may be that correction will touch the 38.2%, just under 1.1, but there is a bullish sentiment here and so the cursory stab at the 23.6% at 1.1030 may be all we get for now.
I continue to buy on dips and there will undoubtedly be some profit taking in the area marked grey above - the March highs - the Year Highs - but as we are approaching that level again neatly off a 38.2% pivot point I don't see that will be a problem for longer term traders like me.
Gone to a better place
- #6,288
- Sep 16, 2014 4:49am Sep 16, 2014 4:49am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
The picture for today is interesting. Big news releases in 3 hours will probably crystallise this chart:
If 1050 holds then a perfect 1 - 2 - 3 trade is available at 1070 or thereabouts. If not then this topping pattern may run its course. I won't be shorting, though. I think other longs will be with me there. In my opinion some weak longs closing would be all that drives that move.
If 1050 holds then a perfect 1 - 2 - 3 trade is available at 1070 or thereabouts. If not then this topping pattern may run its course. I won't be shorting, though. I think other longs will be with me there. In my opinion some weak longs closing would be all that drives that move.
Gone to a better place
- #6,289
- Edited 8:16am Sep 16, 2014 7:44am | Edited 8:16am
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- #6,291
- Sep 16, 2014 3:33pm Sep 16, 2014 3:33pm
- Joined Apr 2011 | Status: Free Palestine.. | 1,567 Posts
If skills could be acquired by watching, every dog would be a butcher. Turk
- #6,292
- Sep 16, 2014 3:48pm Sep 16, 2014 3:48pm
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Please check out my blog at https://from-zero-to-hero . net
- #6,295
- Sep 16, 2014 4:48pm Sep 16, 2014 4:48pm
- | Membership Revoked | Joined May 2008 | 3,395 Posts
The Market pays you to be disciplined
- #6,297
- Sep 16, 2014 5:52pm Sep 16, 2014 5:52pm
- | Membership Revoked | Joined May 2008 | 3,395 Posts
The Market pays you to be disciplined
- #6,298
- Sep 16, 2014 6:30pm Sep 16, 2014 6:30pm
- Joined Apr 2011 | Status: Free Palestine.. | 1,567 Posts
If skills could be acquired by watching, every dog would be a butcher. Turk
- #6,299
- Sep 16, 2014 10:05pm Sep 16, 2014 10:05pm
- Joined Mar 2012 | Status: Gold anyone | 6,524 Posts
usdcad current 1.0977
Wooooohooooo or Boooooohooooo
- #6,300
- Edited 11:16pm Sep 16, 2014 10:53pm | Edited 11:16pm
- Joined Jul 2011 | Status: Winning | 1,859 Posts
Canadians on their way back up... just like it should be!
Oh how I love you Canadians
Oh how I love you Canadians
Please check out my blog at https://from-zero-to-hero . net