Loonie bounce

Master Pu

Master Pu

Thanks to @DiceAreCast for pointing this out, WTF is going on here?! USDCAD to bounce IMMEDIATELY! ;)

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maxinger said:
this is the monthly chart.
so it will take many months to bounce.
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My attention was drawn to the level, not pattern. Patterns can take ages when taken from monthly, whereas levels can trigger volatility/momentum in seconds.
 
clockwork71 said:
Why do you think its going to bounce? It can't break 1.20 or something? If it does on a weekly chart....I will be shorting it and targeting 1.10 below. As far as a bounce is concerned.....a rally in the USD probably pays off in other markets much more.
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I agree. I am already short for the last 4 months. I will take 25% off here, but I am targeting 1.12 for next 25%. Then let the rest run.

It already bounced 3x on the daily into a range. I think the overall commodities movement will dictate the direction. So down from here and break the 1.20 multi year level.
 
Oversold & 1.2/1.19 is historically a key level. I didn't post end of a downtrend. You both may well be right on continuation of the downtrend, that's not my interest here.


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Master Pu said:
Oversold & 1.2/1.19 is historically a key level. I didn't post end of a downtrend. You both may well be right on continuation of the downtrend, that's not my interest here.


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It should be your interest. You should always accept the fact that either option can happen. Going into it with a preconceived notion is a great way to lose money.
 
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