Allen D.ParticipantAugust 18, 2020 at 9:38 AMPost count: 19
My stake in FXC just turned green today. I told myself I would sell when that happened to put into LI positions.
Would you recommend?DANNY ABARParticipantAugust 18, 2020 at 9:42 AMPost count: 71
I am holding FXC to see if we are breaking out into a huge Wave C opportunity, as the US$ continues to fall.
But, of course, I differ to Sean.DANNY ABARParticipantAugust 18, 2020 at 9:44 AMPost count: 71
Hmmm … I looked again … it looks like we made a new low, and we are just beginning a new Wave 1.DANNY ABARParticipantAugust 18, 2020 at 9:47 AMPost count: 71
Resistance around $80 and then almost $95Sean HymanKeymasterAugust 18, 2020 at 10:00 AMPost count: 3300
Allen, with the dollar turning lower many foreign currencies are starting to prosper more now (euro, pound, Canadian dollar, etc.). So they likely have quite a bit more upside ahead of them. But if you choose to sell, its next resistance is in the $78-$80ish area. But it stands a good chance, over time, of making it to the higher resistance.
Attachments:You must be logged in to view attached files.Sean HymanKeymasterAugust 18, 2020 at 10:02 AMPost count: 3300
Danny, I think you mean defer rather than differ. ha-ha.
Yes probably still in a major wave 1, which means one would have to ride through a wave 2 pullback or sideways range, if so. But then a higher wave 3 would be coming.BekkaParticipantAugust 25, 2020 at 2:54 PMPost count: 222
Whew! I just made it to breakeven on FXC today, a week later than you, Danny. And, yes, I have thought of selling at breakeven. Sean’s chart is making it a bit hard to decide. If I sold, I could add to my cash pile. Hmmm…what to do? haha.Scott PearcyParticipantAugust 25, 2020 at 3:07 PMPost count: 298
I am currently down about 3%…..I believe I will ride the wave a little longer…..I will hold until the $88-$90 resistance range is reached….since the 50-SMA just crossed the 200-SMA earlier in August….I will ride out the Wave 1, endure the Wave 2, and then sell once deep into Wave 3…..my break even is $77.15…..Taylor LimitedParticipantAugust 25, 2020 at 3:18 PMPost count: 9
If wave 2 puts me down at least 10%, OK to average down on?Sean HymanKeymasterAugust 25, 2020 at 3:28 PMPost count: 3300BekkaParticipantAugust 25, 2020 at 7:17 PMPost count: 222
By George, I think I can…it looks like I’ll have company too!Sean HymanKeymasterAugust 25, 2020 at 7:42 PMPost count: 3300
Ha-ha. And with the dollar diving and inflation rising…that should help the Canadian dollar since the assets that get inflated the most are commodities and they’re a big commodity producer/exporter. So it could be their time to shine a bit more, in that regard.
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