Monday, October 19, 2009

and here I brag about something I said while you were asleep (USD/CAD)

unedited excerpt from an actual chat I had with Adam (aka 'guest blogger') in the early morning last Thursday:

adam: ah
4:08 AM I am long usd/cad
because it looks like a farce
me: well, if and when it reverses it should be a good position
adam: 3 h divergence
on rsi
4:09 AM me: 9 down days in a row!!!!
adam: yeah
pretty skanky
someone made a lot of money on that
4:10 AM probably the same people will make it on the way up when they flip sides?
me: who knows
4:11 AM adam: now at the 1H 21 ema
me: looks like it bottomed a few hours ago
4:12 AM at least a near term bottom
should bounce a few points at least
adam: 1.0350s or so
4:13 AM me: 1.043
adam: how did you get to that?
4:14 AM me: just made it up
adam: nice
me: draw a line from the june bottom
to the august bottom
4:15 AM that extends through about 1.042/3 now
adam: right
so thats a preliminary target
me: yeah, next few days
4:16 AM if it happens real quick
then the price will probably retrace quickly back a point or two

now this really short-term stuff isn't the type of thing I feature in the pay newsletter, but if you are a currency trader who might appreciate access to my opinions at odd hours, feel free to contact me, perhaps arrangements can be made. (but as a disclaimer, I make mistakes on occasion too, just ask Adam, he'll vouch for me there!)