Weekly prediction by YQC

[Yan Qing Chen]

I predict that the USDCAD pair will go up next week. My target for the pair is 1.2999. Lets see if I'm right at the end of the week

 

[Yan Qing Chen]

The USDCAD pair is slowing getting there however it might not get to 1.2999 this week. A target of 1.2860 seems more reasonable at the moment for the next two days. Check the 4 hour chart. Nice little up trend going on there for the last 6 days. It seems to run in a 150 pip range and slowing moving upward. I've been trading the range for the last two days and had been able to make some nice profits. However do not short it when it reaches the top of the range, signs of breaking the trend for a big surge upward is beginning to show. Instead wait for it to come to the bottom of the range and buy low sell high.

 

[Yan Qing Chen]

Ok, something doesn't sit right with me today. I just have a weird feeling. Call me chicken but I just can't resist selling at the week high. I exited my positions today afternoon at 1.2775. I know I could wait another day and see if my target hit but I decided to just call it a week.

 

[Yan Qing Chen]

Ok ... even though the pair hit all my targets on Friday, I'm not upset about it. In fact, I think I made a good decision. The thing about it is since thursday, it shoots up 500+ pips then shoots down 300+ pips to settle at 1.2712. Friday's action alone was shooting up 250+ pips then shooting down 300+ pips. On friday the action can just as easily be shooting down 300+ pips first before going up. If this happened all my stop loss would be hit and I would probably ended the week even. The thing is I don't know how the jobloss will come out in both canada and US and even if I know the figures before hand I don't know how the market is going to react to the data. So since I already made a lot of profit I should get out of the roller-coaster ride on Friday. But the fact still remains that if I had kept it until Friday and got out at 1.3000, my profit for the week would be up 30% more. Oh well, that is life I guess, I just have to be happy with what I got instead of what I might have got. And afterall, it did close 60 pips lower than what I got out at.

Looking ahead of next week's action for the pair USDCAD. Watch out for the rate cut decision in Canada. Stay out of the pair until the rate cut decision if you want to play it safe.

 

[Yan Qing Chen]

New prediction for the week starting 12/08 2008

New prediction for the week starting 12/08. I predict this week that Crude oil will go up. My target is $52.

 

[Yan Qing Chen]

After the Republicans' speech on the why they oppose the auto bailout I am very scared now. It feels too much like the initial 700 billion baliout plan all over again. They come out with a crappy plan the first time and did not pass. Its like dejavu all over again. Therefore, I exited my oil positions at $44.30 and went short. My target for friday is now at $37.

 

[Yan Qing Chen]

Ok ... so the house pass the bill. I exited my short positions and am now long again. LOL. Wild emotional roller coaster this week so far. My target for Oil is now $49.

 

[Yan Qing Chen]

Great day. Hit my target. I exited at $48.75. Looking to get in long position again at $46.50. If I can get in, great. If not its ok too.

 

[Yan Qing Chen]

I got in long again at $46.94. I'll probably buy some more if it goes below $46.50. My target for Friday at close is $49.75.

 

[Yan Qing Chen]

OMG THEY ACTUALLY KILLED THE BAILOUT!!!! I exited my long positions at $45.66 and am now short again.