USD/CAD

so close short 1 tp done - forex is not medical shop

there was a big harmonic pattern on the 1hr that was also pushing this down

note i edited this to add the chart

This had absolutely nothing to do with the technical picture and purely due to fundamentals. Mainly the spike in oil, oil saw a 2 dollar spike, the same time USD/CAD spiked down. The Canadian economy is still quite weak and the GDP is coming around the corner. I would go long right now and buy this dip if FOMC wasn't coming out in 1 hour.

Everyone is able to have their own opinion. As a fundamental trader it seems you are I would have expected nothing less than a comment like that too. It's the whole thing of what came first the chicken or the egg. In a technical traders point of view the pattern completed before the oil news and change of direction.

Thanks oil for the move, but thank you for the pattern and it's ability to forecast it.

LOL , was looking in old posts from me

think that the price will come back to the channel than bit it to continue the trend

Attached Image (click to enlarge)

Exited all shorts on the 1st wave down.


Now setting up for the 3rd wave (iii) down, SL at invalidation of upper channel line.


http://www.forexfactory.com/showthre...18#post8562718

It's on its way up!

I think that once price reaches the 50 EMA that I will be wait for a signal to go back up. Until then, I am flat....

down she goes...

As the price has reached the level of support, I think that now it will go up.

Attached Image (click to enlarge)

Great and rare short strong setup with very high win potential :

The price is stucked between support and resistance at the low of previous trading Day . Previous trading Day show good selling activity increasing the likelihood of a valid downbreak. Potential risk : reward 1: 7
Always use aggresive risk management , no matter how the perfect setup is and never risk more that a small amount of your capital :

...may touch the fresh demand around 1.30...

Am watching the similar lines here, but feels that it's going to yield since it is the 4th tap of the TL already.But being NFP week, my logic is that we will see some USD risk aversion sometime this week, oil is certainly looking brighter now, will CAD follow?

OIL PUMP and CAD DUMP

Luv trading this pair..
CAD is a special one, because if USD is weak it's weaker and if USD strong it's stronger
You know what I means

Fake out, classic.

Considering that shooting star candlestick we can probably expect the pair to fall to the previous low at 1.3055.