Gbp/cad

[Raj]

I have taken a long on Friday July 24/09 on this pair. I know we have been very bearish, but never-the-less, there was some convergence for a long. Market came to the 618/TL support on the daily, and also the 240 chart finally hit its fib extension target. It was an aggressive position without having any CF's, but the market has since hit my first target on the 60 chart, and I'll be watching if it wants to give me more.

Happy Pipping

:)

[Raj]

Well it took its sweet time, but finally the pair hit my second target.

Happy Pipping

:)

[Rob123]

Good job Raj :) Rob

[Rob123]

Hi Raj,Possible short opportunity here ? We have completed up move to 162.Also at 61.8 of the last swing down. I would like to see it come back down under the 4 hr trendline,but if i get a good Cf i may short before this happens .Also we are bounces off the 200sma on the 4 hr chart. Rob

[Raj]

Hi Rob, for me the weekly is in cons, and its in the middle of the range, so im staying away. Having said that, we are at the crossroads of two larger TF trendlines "X" marks the spot if you will, and we've been consolidation all day at this level, so perhaps yes if you get a nice 240 CF...but that hasn't happened yet.

:)

Happy Pipping

[Rob123]

Thanks Raj, Thank you very much for your imput and charts. I'm getting to like this style of trading :) Rob