TomProTrader

USDCAD: In My Opinion A Mere Markdown Against The Bigger Picture

FX:USDCAD   U.S. Dollar / Canadian Dollar
595 17 10
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?
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Great VISION, Tom!
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moorekapital 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.
+1 Reply
IvanLabrie moorekapital
This guy's smart...also funny as hell.
Have a great weekend gentlemen.
+1 Reply
TomProTrader IvanLabrie
Thanks Ivan, that's extremely kind :)
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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.
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TomProTrader 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
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Baseball350 TomProTrader
I guess time will tell. Best of luck mate.. ;)
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TomProTrader Baseball350
Best of luck with all your trades :)

King regards
Tom
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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.
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