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frx_trader Aug 11, 2016 3:11pm | Post# 10461

It could be false break. But consider lots of SL's at 1.28. That where the money is.

KeenPips Aug 11, 2016 3:37pm | Post# 10462

{quote} ...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!!!
Many of us need to be weaned from the delusive idea that a trader must always win and should avoid suffering losses. The business is about winning some and losing some; the nub is consistent efficiency and sustainable profitability in the trader's trading business/career. Trade safe.

KP

MarkoTrd Aug 11, 2016 3:44pm | Post# 10463

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baherhosni Aug 11, 2016 4:39pm | Post# 10464

{image}

Good luck my friend.. I hope its just a false BO for your sake!

That way I will go long too

Squiggles Aug 11, 2016 5:47pm | Post# 10465

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mkt can have trends/ Bo's / ranges / you can see them all only in the past // they all have tops and bottoms ,,, trade them Click to Enlarge

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trademark Aug 11, 2016 7:51pm | Post# 10466

The USDCAD breaks below the 1.3000 level and it may continue dropping towards the 1.2900, which could act as support.

frx_trader Aug 12, 2016 3:22am | Post# 10467

I have to a decision to make now. Whether or not to close my long UC @ 130.80. I doubt it is bullish now. I do pretty well on other trades especially UJ. So, that's not bad.

I think if 1.28 is broken, we could see all the way down to 1.25. I wouldn't want to be in that situation.

Expo33 Aug 12, 2016 3:29am | Post# 10468

I have to a decision to make now. Whether or not to close my long UC @ 130.80. I doubt it is bullish now. I do pretty well on other trades especially UJ. So, that's not bad. I think if 1.28 is broken, we could see all the way down to 1.25. I wouldn't want to be in that situation.
I am over leveraged and holding from 130.4.

IMO, this is about oil price surge, nothing less, nothing more. I think UCAD has held up well considering a 5% move in oil in the past 24 hour period.

129.6 holding as support but dicey for sure. US red data in 5 hours could be the catalyst that breaks the camels back but I am holding into next week. If oil prices continue to strengthen next week I may have to pull a "Geppy" and close up shop on this trade

I believe oil would have to get back to 48-50 for UCAD to get back to 125. I am a technical chartist first but in this case I truly believe oil price is the driving force.

TraderScofie Aug 12, 2016 3:34am | Post# 10469

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what do you think of this? to take s short-term short band. anybody who can tell me how i can start a new my own spread? thanks
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frx_trader Aug 12, 2016 3:36am | Post# 10470

{quote} I am over leveraged and holding from 130.4. IMO, this is about oil price surge, nothing less, nothing more. I think UCAD has held up well considering a 5% move in oil in the past 24 hour period. 129.6 holding as support but dicey for sure. US red data in 5 hours could be the catalyst that breaks the camels back but I am holding into next week. If oil prices continue to strengthen next week I may have to pull a "Geppy" and close up shop on this trade
Thanks. I am afraid to see lots of sellers at this point. All are eager to push the price down towards 1.28. It will be a nightmare.

KeenPips Aug 12, 2016 3:40am | Post# 10471

{quote} Thanks. I am afraid to see lots of sellers at this point. All are eager to push the price down towards 1.28. It will be a nightmare.
Hi, m8! We are small retail traders and cannot push the price either way, so no need to fear the direction of most traders on FF. However, the USDCAD is largely in a bearish mood atm. Trade safe.

KP

Squiggles Aug 12, 2016 4:40am | Post# 10472

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todays little buy zone making some brave attempts / chaep scalps, faster buys than sells, may even bag a runner if old long start bailingClick to Enlarge

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dianajs Aug 12, 2016 5:37am | Post# 10473

I have a short-term long position with target 1.2990. Even if it retraces now the move to the downside isn't over, I think.

Dano12 Aug 12, 2016 6:38am | Post# 10474

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TraderScofie Aug 12, 2016 7:05am | Post# 10475

{quote} Many of us need to be weaned from the delusive idea that a trader must always win and should avoid suffering losses. The business is about winning some and losing some; the nub is consistent efficiency and sustainable profitability in the trader's trading business/career. Trade safe. KP
many do not have enough patience and plans. they trade according to their feelings but most feelings are unreliable. I see some reply and i know there are still few people could profit. the law never change

TraderScofie Aug 12, 2016 7:29am | Post# 10476

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why do you all focus on to buy or sell at here???
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procrude Aug 12, 2016 10:59am | Post# 10477

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too many traders on long usdcad as it keeps going down
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procrude Aug 12, 2016 4:05pm | Post# 10478

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I hope USDCAD will recover next week I will leave my positions open through the weekend. Currently negative
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Expo33 Aug 12, 2016 5:45pm | Post# 10479

I hope USDCAD will recover next week I will leave my positions open through the weekend. Currently negative {image} {image}
Also holding and adding. All US red data comes in worse than expected. Oil surging again today, up nearly 8% in the last two days, and yet UCAD has held support at 129.5. That speaks for itself.

Is market moving money waiting to push this down to 128 next week or waiting for a bounce thru 130 to start pushing this bear into his cave for the next couple of weeks? Time will tell. A fair amount of data next week. Friday features Canadian CPI and retail sales print, both not expected to be anything too encouraging. Maybe oil cools off a bit as well, a potential catalyst and 1-2 punch to get the bull camp rolling.

Either way, I am doing what all good traders do. Keep adding to an over leveraged losing revenge trade, then put some lipstick on that pig it and marry it. Then delude yourself by rationalizing 24/7 so you can convince yourself that your beloved pig will become a beautiful princess.

Cheers all , have a good weekend

FSUtrader Aug 12, 2016 6:45pm | Post# 10480

{quote} Also holding and adding. All US red data comes in worse than expected. Oil surging again today, up nearly 8% in the last two days, and yet UCAD has held support at 129.5. That speaks for itself. Is market moving money waiting to push this down to 128 next week or waiting for a bounce thru 130 to start pushing this bear into his cave for next couple of weeks? Time will tell. A fair amount of data next week. Friday features Canadian CPI and retail sales print, both not expected to be anything too encouraging. Maybe oil cools off a bit as well,...
lol great comment


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