"USDCAD: In My Opinion A Mere Markdown Against The Bigger Picture" by trader TomProTrader — published October 28, 2015

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U.S. Dollar / Canadian Dollar (FX:USDCAD)

FX:USDCAD U.S. Dollar / Canadian Dollar

Traders,

I think this a mere markdown in the bigger picture.

Oils large rise in price has been responsible for the CAD selloff. But I am not worried in the slightest. I am not shorting the pullback and I will wait for a long..

Only when the long term trendline has been broken (That or fundamental beatdowns) I will consider being a bear.

Shorting now is a bit like eating like a bird, and pooping like an elephant...

Tom

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Waiting to long now...got an update Tom?

Great VISION, Tom!

moorekapital

" Only when the long term trendline has been broken (That or fundamental beatdowns) I will consider being a bear .

Shorting now is a bit like eating like a bird, and pooping like an elephant...
" I LOVE THESE WORDS ;) # though.

moorekapital

This guy's smart...also funny as hell.
Have a great weekend gentlemen.

IvanLabrie

Thanks Ivan, that's extremely kind :)

So you don't see the Lower Low and the Lower Highs in Daily already... same for USD. It could go up, but at this point is not what it says.

Baseball350

Yes I see those lower lows and higher highs.. Turn your attention to 17th June 2015, where we had a lower low and a blatant lower high... This was the beginning a new uptrend. Using your logic, you would been short and probably got F'ed because you don't understand where you are in a trend.

Tom

TomProTrader

I guess time will tell. Best of luck mate.. ;)

Baseball350

Best of luck with all your trades :)

King regards
Tom

Pair printed a lower low @ 1,2831 (against former low @ 1,3016) and now prints a lower high (probably). For me this is downtrend until proven otherwise.