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bladerogers Aug 11, 2016 11:36am | Post# 10441

big decision area right here I think. sitting right at lower trendline on daily. WTI is at a triple top on the 30 mins. CAD breaks down here, could be the fall some of you are hoping for...but I am expecting a bounce, though there did seem to be some real strength behind that down move likely due to oils gas reserve news today that spiked WTI. GL all!

mamalujo Aug 11, 2016 11:40am | Post# 10442

big decision area right here I think. sitting right at lower trendline on daily. WTI is at a triple top on the 30 mins. CAD breaks down here, could be the fall some of you are hoping for...but I am expecting a bounce, though there did seem to be some real strength behind that down move likely due to oils gas reserve news today that spiked WTI. GL all!

lets see. 1.30000 has always been a good area for a bounce.

KeenPips Aug 11, 2016 11:40am | Post# 10443

USDCAD is largely in a bearish mode.

KP

wintersolace Aug 11, 2016 11:46am | Post# 10444

that is a beautifully periodic whipsaw

bladerogers Aug 11, 2016 12:08pm | Post# 10445

USDCAD is largely in a bearish mode. KP
I disagree. On all charts lower then daily, sure. but looking at daily and up, I see bulls moving forward. Good luck all.

bladerogers Aug 11, 2016 12:12pm | Post# 10446

{quote} I disagree. On all charts lower then daily, sure. but looking at daily and up, I see bulls moving forward. Good luck all.
that said, I might be agreeing with you shortly

Squiggles Aug 11, 2016 12:15pm | Post# 10447

1 Attachment(s)
Yesterdays 1.30 bounce (unlike the last 3) did not clear the fair price (yellow line ) been shorting it all the way down from there today, not looking to buy it unitl maybe 1.2950 Click to Enlarge

Name: cad_daily.png
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KeenPips Aug 11, 2016 12:16pm | Post# 10448

{quote} that said, I might be agreeing with you shortly
Your call, M8! Monthly, weekly, daily, and 4 H tfs show southward mode. Trade safe.

KP

fxtrader18 Aug 11, 2016 12:24pm | Post# 10449

Weak reaction on the 1.30 handle this time round, same with oil at 43.3x.

Squiggles Aug 11, 2016 12:27pm | Post# 10450

1 Attachment(s)
into adr and buy zone, closed hereClick to Enlarge

Name: closed_cad.png
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TraderScofie Aug 11, 2016 12:35pm | Post# 10451

1 Attachment(s)
hello. will you take a short position?Click to Enlarge

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Squiggles Aug 11, 2016 12:37pm | Post# 10452

1 Attachment(s)
she came back into the area to give me a little buy so i pay to see Click to Enlarge

Name: long.png
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wintersolace Aug 11, 2016 12:45pm | Post# 10453

hello. will you take a short position?{image}
Personally i'd say that's just the bottom of another down correct. Although the trend independent of the fluctuations may be shifting.

noFXguru Aug 11, 2016 12:55pm | Post# 10454

hello. will you take a short position?{image}
i'm personally waiting to see if there's a pullback to get in short. it looks to me though that the downtrend started back in january might be starting up again

edit: also the adr is 120 (10 days) and today we are at 116 so the move is probably exhausted i would guess

Neqrotik Aug 11, 2016 1:08pm | Post# 10455

So funny to see how SOOOO MANY people were long term longs this pair. Defying the most simplistic price analysis. I have even seen "essays" on why its going up. Well, i surely hope they are getting the shit rocked out of them right now.

KeenPips Aug 11, 2016 1:14pm | Post# 10456

So funny to see how SOOOO MANY people were long term longs this pair. I have even seen "essays" on why its going up. Well, i surely hope they are getting the shit rocked out of them right now.


Your call, M8! Monthly, weekly, daily, and 4 H tfs show southward mode. Trade safe. KP.

Neqrotik Aug 11, 2016 2:00pm | Post# 10457

Yes. Agreed.

fxtrader18 Aug 11, 2016 2:03pm | Post# 10458

So funny to see how SOOOO MANY people were long term longs this pair. Defying the most simplistic price analysis. I have even seen "essays" on why its going up. Well, i surely hope they are getting the shit rocked out of them right now.
Isn't it the job of a trader to react to what they see in front of them?

KeenPips Aug 11, 2016 2:10pm | Post# 10459

{quote} Isn't it the job of a trader to react to what they see in front of them?
Imho, no! The trader is to analyse what is front of him/her and make a decision based on some carefully chosen criteria/conditions and specified rules. Trade safe

KP

baherhosni Aug 11, 2016 2:59pm | Post# 10460

hello. will you take a short position?{image}

Technically "only" (I don't want to get into what seems to be a bull/bear struggle), I would wait for the confirmation signal between 3015 and 3060 when it comes back for the retest.. Otherwise its a false breakout!

Simply said..

And from a Forex trading tech analysis point of view, there was nothing wrong with attempting a long at that point.. I took it and I closed it in the red! So what? Just one of the losses.. You need to be right 55% only of the time if your R:R is 1:1 to make a profit!!!


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