So this is the USD/CAD pair and i missed the initial bounce off the support line on the 21st but i just saw this setup this afternoon. i think the price is retracing back down and will bounce off the previous Resistance line that is shown in the picture. also the macd looks promising in the 1 hour time frame and the RSI looks like it is heading back north in the 4 hour time frame.
Its at a strong support right now, But I personally feel it drops out the bottom from here.
500 pips maybe, JMO.
Of course over time, not at once, lol, silly
MoneyNVRSleeps can you see the picture in good quality? because when i look at it on the forum its not clear at all. I only ask you this because idk if you see the other support line i have drawn in
not really krash, i cant even see the time frame, tryin to match it on mine and not seeing it,
check out MACD 38,120,10 on the daily
I think that is the best setting on the planet, lol…
Oh, and DO NOT make assumption on my input, I dont know your style.
I think the USDCAD will correct over the next few months looking at the D1 chart. I have been shorting it between 1.1300 and 1.1400, but this does not mean that you are wrong as you trade a different style and have a different time horizon/risk management. Just follow your strategy and if you see a set-up, trade it.
the image i have on my desktop is a full resolution screenshot idk why its not clear here. ill try uploading through dropbox. give me 5 mins.
hey Krash, just see’n this.
Nice call if you took a long for 80+
Like I said, it could go down, lol
Keep rockin it bud!
Sweet!!!
Good call on the long. That’s a weekly level support right there. Overall it’s been in an uptrend for a while so I wouldn’t bet big on the counter trend trades. Also there’s a M1 level sr just below there at 1.127 so it could be headed for the next one higher up around 1.163.
wow another drive by.
Here is another setup i think may be promising on the EUR/GBP.
the major support level is from late September of this year and it also bounced from that area in July of 2012. the other support level is from recent bounces. i noticed the trend and drew out the line and it lined up perfectly with where the price is right now. also the macd is lining up on the hour chart and the RSI is in oversold on both the hour chart and 4 hour chart.
anyone with any comments or suggestions is welcome!
Thanks
