Thursday, October 20, 2005

20/10/05

Closed CAD trade at 1.1760, according to the COT data we could be at the bottom here and the technicals are starting to back this up on the higher time frames. I've taken profit as there's an UP TL on the 4HR chart and MACD divergence.
However without the COT data I'd be itching for a TL break. There's going to be one isn't there, but I've got my pips and I'm happy.

Could this be the bottom? I've been wrong so many times you could make a quilt out of it. However I'll be keeping an eye on this one.

In actual fact the COT data for pretty much every currency is at an extreme.

Trending times ahead hopefully. Big fat trends till new year would suit me nicely ;o)

+39

// posted by Magpie @ 10:32 pm
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