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EUR/CAD

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  • Post #1
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  • First Post: Mar 26, 2010 6:35pm Mar 26, 2010 6:35pm
  •  Azinvg
  • | Joined Oct 2009 | Status: Member | 400 Posts
HELLO GUYS IM THINKING THIS COULD BE A GREAT OPPORTUNITY TO DISCUSS EURCAD AND THE GREAT OPPORTUNITY OF A LONG TERM TRADE.

LOOK AT THE CHART YOU CAN EASILY SEE MAIN TREND (AND THE POSSIBILITY OF A RETRACEMENT IF WE PASSED THE ORANGE TREND). Also, I believe swiss gov. wont let this go that far. This week movement could be a gov. transaction.

I ALREADY HAVE SOME TRANSACTIONS OPEN AS YOU CAN SEE ON MY ACCOUNT:

avg 1.3650.

Im hedging, so I optimize this long term trade, because we havent break the main trend *BEAR*. I need to be sure that we are breaking that line so my hedge is not that much.

We have two trends on the chart. The main trend is the ORANGE and the momentum trend that started on feb-26 that gives us the RED trend.

if you look the PA on the touch of those trendlines (on the support "up line") the rebound is quick towards 1.33. This time it wasnt that quick and the week closed above the momentum trendline that gives us the probability to go and hit the ORANGE line at 1.39-1.3920. Only after breaking that ORANGE line I would now for sure we are in a change of a MAIN TREND and ill stop doing that much hedging and start adding longs on a daily basis.

I see a possible formation of a INVERTED H&S on 4hr tf where i believe we are going to hit 1.3740-13690. That shoulder would give the pair momentum so we can break and retest that ORANGE line.


TRADING PLAN:
OPENED TRANSACTIONS:

BOUGHT 1.3650 TP SL OPEN
SOLD 1.3784 TP 1.3730 (SEE THE PRICE ACTION THERE) SL OPEN

ORDERS TO BE OPENED:

BUY
1.3720-1.3690 SMALL
1.3630-1.36 DOUBLE THE OTHER
SELL
1.39 HEDGE SL 1.3933 + 2 LOTS.

LETS SEE WHAT HAPPENS
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  • Post #2
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  • Mar 26, 2010 7:51pm Mar 26, 2010 7:51pm
  •  wdevauld
  • | Joined Jan 2010 | Status: Analyst | 15 Posts
Looking at the yearly and monthly price action, I see no reason to get bullish on the EUR/CAD pairing. The price is still in the middle of the channel, and the daily and hourly moving averages are still aligned lower. Recent price action appears to have retraced the freakishly fast drawdown on March 19th.

For my money I'm looking to enter in shorts above 1.385 with stops at 1.41

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  • Post #3
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  • Mar 26, 2010 9:11pm Mar 26, 2010 9:11pm
  •  Azinvg
  • | Joined Oct 2009 | Status: Member | 400 Posts
i never said to open longs now. I said that I have longs from 1.3580 and 1.3650 and I'm going to leave it open with hedge because the main trend is bear. I see potential for a break of that trend, and I want to have some positions really low before that happens. It is extremely oversold and usdcad is almost in parity.
 
 
  • Post #4
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  • Mar 29, 2010 11:21am Mar 29, 2010 11:21am
  •  Azinvg
  • | Joined Oct 2009 | Status: Member | 400 Posts
it hit my green trendline and rebound it like i expect i add some more longs there. 83% probability it would happen like that on those longs 1.3870, you can sell there if you want but just hedging
 
 
  • Post #5
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  • Mar 29, 2010 1:10pm Mar 29, 2010 1:10pm
  •  wdevauld
  • | Joined Jan 2010 | Status: Analyst | 15 Posts
Quoting Azinvg
Disliked
it hit my green trendline and rebound it like i expect ...
Ignored
To which green trendline are you referring? I examined your images and all the green lines appear to be support and resistance lines. Can you clarify?
 
 
  • Post #6
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  • Mar 29, 2010 2:43pm Mar 29, 2010 2:43pm
  •  kuroro001
  • Joined Jul 2007 | Status: Member | 17,784 Posts
I'm taking a short on it very soon ....around 1.3780-1.3800 for a move down to 1.3620
And same for usdcad around 1.0230 ....no tp yet
COT: The precious data ignored
 
 
  • Post #7
  • Quote
  • Mar 29, 2010 3:10pm Mar 29, 2010 3:10pm
  •  Azinvg
  • | Joined Oct 2009 | Status: Member | 400 Posts
Quoting wdevauld
Disliked
To which green trendline are you referring? I examined your images and all the green lines appear to be support and resistance lines. Can you clarify?
Ignored
sorry, it is red. hehehe
 
 
  • Post #8
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  • Mar 31, 2010 1:15am Mar 31, 2010 1:15am
  •  Azinvg
  • | Joined Oct 2009 | Status: Member | 400 Posts
hello guys, you all know im looking for a trend reversal on eurcad, im seeing some possible h&s inverted formation on eurcad as you can see on my tf 1hr 4hr. On daily, is not that clear. Also you can see is the 61.8 fib level on the last up move. Is already going up?. Im ready to buy on every 40 pips down with great MM. I had one lot on 1.3583 and closed it because of the possibility of going that way again. It happened to me last week as Im aware that the main trend is BEAR still.

So, this is a risky trade, but im seeing it clear for my eyes!!. No one is with me, and thats good by me. I see a bull trend on eurusd also, bought at 1.34 several minutes ago. BEARS were not enough to close below 1.34 on daily basis.

GOOD LUCK and love to have your toughts!!
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  • Post #9
  • Quote
  • Apr 4, 2010 7:54pm Apr 4, 2010 7:54pm
  •  Azinvg
  • | Joined Oct 2009 | Status: Member | 400 Posts
we are out of the momentum downtrend. We are going to test the orange line on the downtrend on 1.37-.50.

What a great opportunity to start building longs, or if you like the shorts, wait until that downtrend pattern is hit
 
 
  • Post #10
  • Quote
  • Apr 8, 2010 3:04am Apr 8, 2010 3:04am
  •  kuroro001
  • Joined Jul 2007 | Status: Member | 17,784 Posts
Long EURCAD at 1.3405...SL 1.3385...target 1.3600
COT: The precious data ignored
 
 
  • Post #11
  • Quote
  • Apr 8, 2010 4:41am Apr 8, 2010 4:41am
  •  kuroro001
  • Joined Jul 2007 | Status: Member | 17,784 Posts
Quoting kuroro001
Disliked
Long EURCAD at 1.3405...SL 1.3385...target 1.3600
Ignored
Stopped ....reloading at 1.3390...stop at 1.3370...same tp
COT: The precious data ignored
 
 
  • Post #12
  • Quote
  • Apr 8, 2010 6:12am Apr 8, 2010 6:12am
  •  kuroro001
  • Joined Jul 2007 | Status: Member | 17,784 Posts
Quoting kuroro001
Disliked
Stopped ....reloading at 1.3390...stop at 1.3370...same tp
Ignored
Stop at BE ....enjoying the freeride now or enjoying nothing
COT: The precious data ignored
 
 
  • Post #13
  • Quote
  • Jul 13, 2010 4:05am Jul 13, 2010 4:05am
  •  Amie_Senior
  • | Additional Username | Joined Jun 2010 | 151 Posts
It's a Bat !

Good Luck !

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R & S , That Is All !...
 
 
  • Post #14
  • Quote
  • Jul 15, 2010 9:36am Jul 15, 2010 9:36am
  •  Amie_Senior
  • | Additional Username | Joined Jun 2010 | 151 Posts
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R & S , That Is All !...
 
 
  • Post #15
  • Quote
  • Jul 19, 2010 4:34am Jul 19, 2010 4:34am
  •  Amie_Senior
  • | Additional Username | Joined Jun 2010 | 151 Posts
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R & S , That Is All !...
 
 
  • Post #16
  • Quote
  • Jul 20, 2010 11:06am Jul 20, 2010 11:06am
  •  kengur
  • | Joined Oct 2009 | Status: Member | 100 Posts
I am short this pair...anybody with me?
 
 
  • Post #17
  • Quote
  • Aug 26, 2010 2:33am Aug 26, 2010 2:33am
  •  Jason Bourne
  • | Joined Jul 2010 | Status: Member | 129 Posts
SOLD @ 1.3422
SL @ 1.3510

4HR Chart

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Are you treadstone?
 
 
  • Post #18
  • Quote
  • Aug 26, 2010 10:44pm Aug 26, 2010 10:44pm
  •  Forexfsa
  • | Membership Revoked | Joined Feb 2010 | 654 Posts
Short 1.3440 , tp 1.3200
 
 
  • Post #19
  • Quote
  • Sep 6, 2010 5:36pm Sep 6, 2010 5:36pm
  •  MarketInvest
  • | Joined Jul 2010 | Status: Member | 46 Posts
I've open a short position in EURCAD at 1,33233. Waiting for a leg down...

Cheers

MarketInvestor
 
 
  • Post #20
  • Quote
  • Sep 7, 2010 6:49am Sep 7, 2010 6:49am
  •  Naseri13
  • Joined May 2010 | Status: I'M NOT SIGNAL PROVIDER | 1,169 Posts
Opened a short position
waiting for +15 / +30 pips.
Sl like tp.

http://www.forexrainbow.com/download...9ubqte7gpx.jpg
A little beginner trader since 2006
 
 
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