22 September 2010

USD/CAD : Watch Weekly Triangle Downside

  • Too relaxed and missed buying the initial break of the AUD/USD at 0.9405. Must not miss this one. Vigilance!
  • Weekly triangle going back all the way to May nearing downside break now. Triangle line on the downside is 1.0172 (equivalent upside on CDZ0 = 0.9808).
  • If broken, this has a downside possibility of 8.5 big figures.
  • Lesson learnt from recent experience in EUR/GBP, S&P, etc. WAIT FOR THE BREAK! No point getting in while it is trading within the triangle.

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