hello shahab
thank you for this very good topic.
thank you for this very good topic.
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DislikedHi Shahab and everyone,
Would you mind taking a look at the exotic pairs like NZD/CHF? My logic is here:
1, NZD/CHF = carry trade
2, AUD/USD is up (so will NZD/USD)
3, EUR/CHF has a peg and would finaly end up higher (in months / a year?)
here I only assume EUR/USD would be stable in a range (1.26-1.33)>=(1.29-1.30)
So is there a chance NZD/CHF, in your opinion would continue its way up?
I mainly focus on pairs like EUR/USD, CABLE, USD/CHF and AUD/USD, but to find this trade idea this morning when I woke up.
So please correct...Ignored
DislikedHi Shahab,
Thanks for your chart .... I was wondering if you entered via limit order on this one ....and do you use limit order as main entry tool?Ignored
DislikedI did. I usually use limit orders (80% of the times). To my experience, you'll make less bad entries using limit orders.Ignored
DislikedThanks ....I am working on starting to use limit orders as well, as the London session occurs at 3:00 AM (Toronto Time) and its quite difficult to be up at that time at least for now until I become a full time trader. Also the supply/demand levels against which you take the limit trades ...is Fib a must have at those levels in addition to other confluences.Ignored
DislikedHi Tradoholic,
Nice going on EJ. I am a bit skeptical if it continues to fall further, let's see how it plays. As for AU, I'm more bullish technically, for now holding longs.Ignored
DislikedI observe the COT positions in conjunction with the Oanda Open Order/Position +1 Year Historical Position Ratio for sentiment analysis..
The Aussi, Kiwi & Loonie, risk correlated instruments keep on rallying & closed above 2+ months Highs last week with NZDUSD closed above 5+ month high with divergence between long positions and market price similar to the divergence observed back at the end of January where the the market maintain a side to up bias until a shift in sentiments near the end of February..
Looks like there's good odd to repeat...Ignored
DislikedHi cdndollar,
Earlier I was looking at same level on NZDUSD ....this area looks quite strong within two Fibs levels, Round Number, Weekly and Monthly Mid levels.Ignored
DislikedAgree.. good S/T confluence support zone.. .8220~50 is also good support on the weekly..
Where are you in Canada? I spent many moons up there before "fleeing" to the warmer Tropics..Ignored
DislikedLOL ...hey man ...here is the H4 view of UCAD ....the level at 61% Fib,combined with weekly and monthly support makes it quite strong. With respect to entry note that there are two levels on top of each other. If entering with limit order I would consider placing SL below the green level ...in my observation, in such situation price usually go deep into the level below to find additional demand ..... also note that there is a round number at the level below which definitely attracts buyers.
Shahab's feedback will be appreciated on the entry and...Ignored
DislikedMktScape
Thanks for your thoughts on it. My take seems a bit different -- I will not enter if the price is in the range of the yellow box. Only when the PA comes down to fib 50, 61, or 78, I would consider going long. The lower it comes down, the better the TP is. The best scenario would be the US gov goes off the "fiscal cliff," then, USDCAD skyrokets...Ignored
DislikedLOL ...hey man ...here is the H4 view of UCAD ....the level at 61% Fib,combined with weekly and monthly support makes it quite strong. With respect to entry note that there are two levels on top of each other. If entering with limit order I would consider placing SL below the green level ...in my observation, in such situation price usually go deep into the level below to find additional demand ..... also note that there is a round number at the level below which definitely attracts buyers.
Shahab's feedback will be appreciated on the limit...Ignored