USDCAD Update: Is it the bottom?

FX:USDCAD   U.S. Dollar/Canadian Dollar
79 2 3
The Oil             has reached the peak IMO             (see my last update remarks to Brent Oil             ). A short while ago there was a strong down move in Oil             and this caused the jump that we see on this chart (see hand-mark). Today is the FED Rate day and I will try to keep away from any dollar related entry for obvious reasons. When the waters calm down, I will make a decision to enter USDCAD             long (or not). Personally I have some conviction and a good gut feeling that this is the very bottom of the USDCAD             and from this point on we shall see a healthy up move in USDCAD             . Time to get back into long for long term. Good trades.
Comment: Still believe that we are seeing the bottom of the major bear market and the USD will start to gain against the CAD. I still did not commit on this pair, until the turn is confirmed. Confirmation will come when Oil start going down, which is coincidentally also at a turning point. Still no obvious pattern or breakout. Entering now could unnecessary commitment of capital unless trading short term. Do not forget, always enter a position along with a thrust like a breakout which occurs at a lower timeframe as opposed to your trading time frame. Patience required. Good Trades.
Comment: Just wait a little longer to enter long (long term). Oil is currently at a resistance area which will possibly hold for a while. I personally will enter probably next week at the 2nd thrust. I will post exact timing, when it occurs. Good trades.
When you say lower time frame you refer to 30 minutes to an hour? Appreciate your response.
if your trading TF is 1hr you shall look at 15min. My rule of thumb is a multiplier of 1/4
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