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  • Allen D.Allen D.
    Participant
    Post count: 19

    Hi Sean.
    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 ABARDANNY ABAR
    Participant
    Post 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 ABARDANNY ABAR
    Participant
    Post count: 71

    Hmmm … I looked again … it looks like we made a new low, and we are just beginning a new Wave 1.

    DANNY ABARDANNY ABAR
    Participant
    Post count: 71

    Resistance around $80 and then almost $95

    Sean HymanSean Hyman
    Keymaster
    Post 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.

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    Sean HymanSean Hyman
    Keymaster
    Post 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.

    BekkaBekka
    Participant
    Post 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.

    AvatarScott Pearcy
    Participant
    Post 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…..

    AvatarTaylor Limited
    Participant
    Post count: 9

    If wave 2 puts me down at least 10%, OK to average down on?

    Sean HymanSean Hyman
    Keymaster
    Post count: 3300

    Bekka: If you can handle the ups and downs along the way…it’s in a wave 3 on its weekly chart, that should have quite a bit more ahead of it.

    Taylor: If you’re down 10% or more, you can average down. Yes.

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    BekkaBekka
    Participant
    Post count: 222

    By George, I think I can…it looks like I’ll have company too!

    Sean HymanSean Hyman
    Keymaster
    Post 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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