Halloween came and went, so did my birthday and things are as they were before. USD keeps falling, and me, well, as immature as always. Fortune teller prediction about USD-CAD direction was all wrong. I new she was a phony. Predicting the future, my ass!
No, I don't trade based on this kind of foresight, nonetheless I did ask her that just for kicks.
We updated our website. Here is the link.
http://www.spectrumforex.com/weeklycomments/11042007.html
My BUY order from last week in USD-CAD have not been executed since the price just kept falling. I have data going back to early 70's but nothing before. We are at the lowest level within this time frame. I'm quite intrigued by it and visited the website on Bank of Canada to see if I can dig up more data. They have prices going back to 1950 and current price is the lowest ever!(well, for this period of 57 years). This is really something, it's not often that one can trade at historical extremes without a precedence in memory.
The way charts of USD-CAD look , from monthly to hourly, they give virtually no clue were the possible bottom might be. Monthly chart is simply unprecedented, as it is nothing but a straight line down. I opened a LONG position here at the end of the week, looking for about 200 pips and risking about 100. Now, I'm not trying to catch the proverbial “falling knife”, but rather conducting a life experiment in target projection. It's very rare that one can trade in an uncharted territory. Amount of money involved is laughable, no large loss is possible, but position size can be built up, if warrantied. I want to see what happens and nothing teaches better than having some money on the line.
Husar
money
