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Hi Xerof
Yes, a Rising Wedge is certainly one possibility, but compare what would have appeared like a forming Rising Wedge in March and one can see the problem in this situation. That plot went on circa 600 pips further north.
One should perhaps still class the action as a possible new uptrend until the new uptrend line breaks.
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Hi All
Getting close to lower support on uptrend
Telling Time;)
Cheers
Slam
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Still tracing out this wedge formation on the daily, with rising trend line holding OK this morning.
I'm small long USD.CAD at 11800[:0][:0], based on the longer term possibilities noted elsewhere. Stop is at 11735
Xerof
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chopped the position before stop level - think we might see better levels
Xerof
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Validation for being nervous about the bearish wedge....
http://img239.imageshack.us/img239/8447/usdcad9se.png
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Trying to catch a falling knife here. Long @ 1.1033 stop 1.0990
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Hi Peat
Yes, I just scalped 10 pips for fun until I get
a more positive confirmed reversal signal.
The action could possible turn round in the
PRZ. (Red Box)This is one of several charts
I put on BF thread recently.
http://img477.imageshack.us/img477/9...06butts2tv.gif
Regards - arco
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stop loss moved to b/e
whats BF arco?
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doh! I thought he meant another site. yeh I had seen it on the other thread and the Danes have been suggesting USD/CAD was a buy for a day or two. They were saying that a bit early on the NZD too, but if you give them a bit of leeway they can get things quite right
thx Xerof