Based on my analyze i am very bearish about FX:USDCAD since last month as you can see from my previous post Reason to short now :- 1. I am assuming a potential bat to be form and a potential crab is valid as well. 2. Double top could be form. Why i say double top could be form? Lets look at the chart below, In this chart shows that buyer failed to break the support resistance twice and so i am assuming a double top could be form. Please like if you agree about it. Agree and disagree comment are welcome in here because buy and sell is always available and time will prove it. Good luck in trading.
Comments
stream
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you maybe are bearish but the market is not with you
BLKS
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Of cause i will not say you are wrong as i might have a chance to rise due to a butterfly pattern.
In monthly chart we can see that it is still very bullish until the bat pattern is completely form.
but what i can say is i will wait for a signal to make my entry, as long as it does not break 1.34400 this short term trade is always valid. and if it does not break 1.34600 the bigger potential bat pattern still have a chance to form.
What i post in here is my own idea, i could not control how the market go, but at least i can control my own trade, trading is risky, buy and sell is always available and the only time that can prove it is time. We will just see how it go.
Anyway, thank for the comment and good luck in trading. =)
stream
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agree with the last chart .. I do not understand why you draw these things , just take a look of the levels .... 1.55 is too high there is another level before that which will ask for big correction . But the main direction is ok .. long
BLKS
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Thanks. Why i draw these thing? Everyone have their own trading style, if i am explain what i see to you, i will let you see what i see through my trading style. I draw it is for my own understanding and i don't think 1.55 is impossible.
stream
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1.55 is a dream for usd/cad ..
BLKS
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Ya maybe you are right, but it doesn't matter with me. My target is 1.535. We will just see whether it will reach 1.55 when the time reach.
Lanmar
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Indeed a dream... to buy Canadian dollars at that level. Most DEFINITELY not out of the question. I see the same Billy. Stream, question for you - if oil goes to low 30's, and the US dollar (DXY) trades at 110, where on earth do you think USDCAD trades? 1.35? Lol.