DailyFX Forex Forum | FX Forum - View Single Post

		DailyFX Forex Forum \| FX Forum
Sidebar Wrapper

Thread: Elliot Wave Trading

View Single Post

#2985 (permalink)

01-21-2008, 09:25 AM

Eushman

Member

Join Date: Nov 2007

Posts: 13

Eushman is an unknown quantity at this point

Usd/cad

I'm seeing this latest action as a series of 3s, possibly pointing toward a correction lower. I still favour this pair higher, and would not be selling these levels (in case I'm wrong about the pull back). However, a move through the lower line support should open up a short term trade (short USD/CAD) for a target of the 1.0140 area. Either way, I'd be a buyer again at 1.0150ish if we DO see the downside. Comments welcome.

Attached Images

Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.