Usd/cad

Since most of the folks on this thread our long because they think it just absolutely, positively can't go any lower, I went short today.

But actually, that's because I got a signal to go short, everyone on this thread was just extra confirmation... :p
 
I don't believe any of us said it absolutely cannot possibly go any lower (other than you quoting what we supposedly said).

We're long because we expect a correction. Or a bounce.
 
Quote from Ivanovich:

I don't believe any of us said it absolutely cannot possibly go any lower (other than you quoting what we supposedly said).

We're long because we expect a correction. Or a bounce.
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Ahhh. Ok. My bad.

I'm still short. :P
 
Quote from sirpangolin:

Ahhh. Ok. My bad.

I'm still short. :P
More...

Good, better for me :)

I think it is an even better long now because not only is the market acting strange, something the market it self cannot maintain, but now that investors have seen new lows, and everyone thinks it's going to keep heading down, which will force it to infact drop lower, but only strengthen the next retraction up.

-Kastro
 
Quote from Kastro_316:

Good, better for me :)

I think it is an even better long now because not only is the market acting strange, something the market it self cannot maintain, but now that investors have seen new lows, and everyone thinks it's going to keep heading down, which will force it to infact drop lower, but only strengthen the next retraction up.

-Kastro
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Actually....

Everyone thinks that since it's hit new lows it HAS to move up. That's crowd and mania mentality. No one can predict it. Not you, not me, not my grandma. No one.

For all we know, it could move another 200-300 pips or more within the next 24 hours.

The only thing we CAN do is act on our signals. If we're wrong... well, we're wrong...

I know you know that already Kastro... :)

Happy trading, friend...
 
True, True...You may be right.

I am up 31 pips on USD/CAD long.

When I think about it, expectation is irrelevant, same with anything else that has to do with prediction in this current market :)

Good luck my friend...

-Kastro
 
taking some off the table here. a couple of big market movers up ahead with the ecb rate decision later and unemployment on friday. anything can happen.
 
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