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Change in the value of all goods and services produced by the economy - might give a sense of direction.
I'll be in bed.....so it can please itself, and I'll pick up the action next week
I missed the pictures for this one but here is their comment
Posted On: Fri, 01 Aug 2008 19:33:49 GMT
USDCAD
Last Price: 1.0433
Support: 1.0399, 1.0263, 1.0215, 1.0136
Resistance: 1.0512, 1.0567, 1.0654, 1.0669
In the Coming Months:
The preferred wave count has prices soon to be in wave 5 down within wave (C). We can anticipate another sustained drive to new lows before a big three-wave decline from the 2002 peak will be complete. What that three-wave move will constitute is open to various possibilities, but once complete a sizable advance will be expected. It would take a move above 108.67 to argue that a lasting bottom has already formed.
In the coming Years:
[High Confidence]
Since that ten-year advance from 1991 represented the last leg of a larger five-wave sequence up from the 1958 low, the dollar/Canada appears to have topped long, long-term (i.e. for at least a few decades).
The unexpected drop below all the cited support levels Thursday has forced a slight revision of the wave count to consider a good temporary top in place at last week's high. Thus prices are correcting the move up from the July 15 low and could fall a little further before bottoming. Prices have already reached the 38% retracement of that move and conceivably could work on down to the .618 retracement at 1.0263. The key question is, has the larger trend turned down or is there one more run to the upside to come? The evidence is unclear, so caution is warranted for now. The short-term trend can be considered down while the 1.0550 area holds, though a move above it would suggest that prices will make one more assault on the 1.0790 resistance level. If the 1.0263 level gives way it would lend credence to the alternate count that says wave 4 up is complete and that the long-term trend has turned down. We'll watch these level and take our cues from there
Peat
Whats making you go short - EW?
rgds - arco
seems overextended.... should've taken the quick 50 it offered me tho....
its scary when arco questions my trade :o
maybe I should bail now when I can... but gone too far gone too fast kind of approach is where I'm at....
Peat
its scary when arco questions my trade :o
That made me titter Peat, I was only wondering -
---------thought I might have missed something :)
You're on a roll Peat..................
:)
Longer term graphs here....
One chart shows the monthly since 1987 - a vicious decline from 2002's high of almost 1.6190 down to late 2007's low of just below 0.91
But 2009 has seen the recovery with levels now at 1.25 level being a 50% retracement. And since the daily chart is now showing a triangle formation which is a continuation pattern and often forms as a 'b' in an 'abc' correction perhaps this will resolve upwards for a final step in the dollars bounce back.
a strategy might be to buy the break of 1.27 here and go for 1.34 but after that build shorts especially if it goes to 1.45.
since my last post we got the signal to buy in at 1.27 and I've been progressively buying in dips since then and took some profit at 1.30 last night with 1.32 and 1.37 as next targets.. the large size of this pattern cannot be ignored and now we've nudged higher than the Oct and Nov highs it would seem to be confirming an upward breakout.
looks to be forming (continuation) triangles on the shorter terms so this adds weight to the suspicion that it will continue up
Just wondering if thats a bullish BF in the making
http://i37.tinypic.com/vpentl.gif
Chart should be explanatory
http://i38.tinypic.com/15he3up.jpg
I saw over 200 pips print on this one, and should have taken it. Got stopped at +100 while I was asleep
http://i33.tinypic.com/fkuv76.gif
I didnt get around to posting this snag yesterday, but the potential to move lower happened overnight.
http://i34.tinypic.com/2ecnjf7.gif
Potentially a long once the PA reverses. Perhaps in/around the lower grey box zone.
The PA gave a great scalp 5 hours ago with the Evening Star off Kumo rejection.
http://i35.tinypic.com/ei389f.gif
Nice breakfast treat - sleeping trade - triggered overnight . Originally thought the PA might print a RH shoulder - but it went ballistic.
http://i33.tinypic.com/28v5ahl.jpg
this would seem to be a strong long at the moment.....
starting to find itself now.... I kept buying more overnight....
delinky
09-02-2010, 12:16 PM
on this one Peat. Averaged in overnight but took out half profits at 0763. Waiting for another entry.
dumbass
15-02-2010, 09:29 PM
usd cad waiting for a fifth wave to complete and then should be an excellent long.
there is a lot of harmonics going on around 10430 area which will be a good place to look for a reversal signal giving a long entry and big pips.
http://iforce.co.nz/i/yvirsvgq.jpg (http://www.iforce.co.nz/View.aspx?i=yvirsvgq.jpg)
miner
16-02-2010, 09:54 PM
U turn on the hourly in the making ?.
Cheers
miner
dumbass
01-03-2010, 07:55 PM
looks promising for another run up on usd cad
im scaling in some longs from here as a 3 wave correction on 5 waves up has nearly completed.
DA I was put off by the bearish engulfing candle on the daily.
dumbass
03-03-2010, 12:09 PM
yeah got a nice bounce of that reversal area but got stopped out on trailing for a nice loss.
usd cad looking bearish and with it a bullish equity outlook.
curious to know peat what elliot wave is saying about equity markets looks like i timed my exit pretty well
The blue-chip stock indexes are close to completing their respective countertrend rallies from February 5.
(but they always say that)
might be a better opportunity now with a doji y'day and a possible bullish engulfing today
.
One of the trades on the blog last week for maximum +234 pips .
Previously the first leg was also alerted off the yellow Chikou zone for maximum +195 pips
http://i38.tinypic.com/imtseu.gif
We scored a maximum of +554 pips overnight on 4 trades - here's one on UsdCad (The others were on Euro, Kiwi and Aussie)
http://i36.tinypic.com/ezn2gh.gif
Zorrro
18-05-2011, 07:01 AM
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rgds Zarif
It has been a big few days
5298
Time for a correction?
5299
Valuegrowth
10-01-2014, 12:43 PM
There could be volatility in the short run. USD should be a 2014 winner. It could be a winner in 2015 as well.
My ideas are not a recommendation to either buy or sell any security, commodity or currency. Please do your own research prior to making any investment decisions.
There could be volatility in the short run.
So it will go up AND down? yeh I guess you're right depending on time frames.
Put your ass on the line man, otherwise you cant be a MARKETWINNER.
I believe that it will go down (before it goes up) and the downward facing orange triangle represents my position.
Excellent opportunity for buying CAD with NZD right now.
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