Usd/cad

Pardon me if someone has already posted this, I just skimmed through the last few pages of the thread, and didn't see anything about it...

Does anyone care to comment on this possible bullish triangle formation?
 

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I don't intend any disrespect to these IFR traders, but I find it hard to believe that they make any money. Almost everytime I see something different then them. Seems like they rely on indicators mostly. You can almost take the other side.

[Strategy:Sell@1.1155] We"ve been stopped out of the short taken on the break
below 1.1100 support. Prices rebounded from a minor 61.8% retracement support
at 1.1085 to beyond our tight stop above 1.1120. Prices today and Wed have
held below the former uptrend line, now rsst at today"s 1.1155 high, keeping
the daily dntrend in play. That is the next hurdle.
 
Then the news service follows with....


[16:39 USD/CAD: Rebound off Fibo Catches Market by Surprise] Boston, July 6.
USD/CAD has bounced more sharply than many had bargained for after finding
support at 1.1085, the 61.8% retracement of the 1.1045/1.1155 rally. There was
not much market-moving news in the Bush/Harper joint press conference, though
Harper did allow that tightened border security could hurt US/Canadian
relations. With trade flows on balance favoring Canada, the thinking may be that
increased security would impact Canada disproportionately. USD/CAD has bounced
in the mid-1.1130s, eyeing resistance at 1.1155/60.
 
Well, we went thru 1230. I am still going to hang in and see what develops over the next serveral days with this pair. I may take some off at 1350 if we ever get there, but I am really hoping for a much higher push over the next few weeks, months.


Current trade up about 177 points. Good luck everyone. If I see something different developing I will update.


DRT


Quote from downrivertrader:

Looks like I got filled last night. Long at 1051.

I am looking of the market to retake 1130 and then

1230
1350

I will keep a tight stop on this one as it may act a little loonie.

DRT
More...
 
I've been getting short since 1235 with an ave. of 1290. This breakout loooks to be the real thing but there isn't much follow through on the other pairs.
 
Well...we reached the 1350 area. I see a move down possibly so if anyone wanted to take some off it is not a bad idea. I am going to stay with this trade as I am holding it in my long term account. I have some very aggressive and boring long term targets.

Could be a move back down to 1220 area.

Current profit is 299 points. Good luck everyone. I will keep updating targets as they develop.

DRT




07-10-06 09:18 AM

Well, we went thru 1230. I am still going to hang in and see what develops over the next serveral days with this pair. I may take some off at 1350 if we ever get there, but I am really hoping for a much higher push over the next few weeks, months.


Current trade up about 177 points. Good luck everyone. If I see something different developing I will update.


DRT






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Quote from downrivertrader:

Looks like I got filled last night. Long at 1051.

I am looking of the market to retake 1130 and then

1230
1350

I will keep a tight stop on this one as it may act a little loonie.

DRT
--------------------------------------------------------------------------------
 
Shorted more now with an ave. of 1320. I'm hoping to see some strength in the majors tomorrow and that should pull the dollar down across the board. Much above 1400 and I'll start to unload.
 
What's your downside target?

Quote from faure:

Shorted more now with an ave. of 1320. I'm hoping to see some strength in the majors tomorrow and that should pull the dollar down across the board. Much above 1400 and I'll start to unload.
More...
 
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