Tuesday, August 04, 2009

$CAD Weakness -

Last night we said that the breach of support in $USD and breakout in $CAD were suspect because they were unconfirmed by MACD. I was watching $CAD closely intraday and was able to take advantage of the early afternoon swoon in commodities.

That is a gap fill and $USD didn't do much, but keep watching.

This is a 1 minute chart of AEM. Once the MA's crossover above price, pick a spot and get short.

This is a 15 minute chart of POT. Coiling at $97.00 base. Breakout or breakdown, either way, the coiling foreshadows a big move.


Missed the box play in my beloved RIMM. Hope some of you guys were in it!

6 comments:

anarco said...

I had been watching RIMM for a while waiting for the BO out of the box, and it happened today that I could not trade. Such a pitty. I hope there is some retest tomorrow.
Cheers,

Jamie said...

Yeah, last few days prior to BO it was almost painful to watch that narrow range chop. But the BO worked very nicely - that's the power of coiling (NR7).

Day Tradr said...

Excellent call on POT Jamie.

Jamie said...

Thanks Day Tradr,

Did you trade it?

Day Tradr said...

Yes Jamie. I took the POT trade. Exited on the break of the hanging man.

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