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USD/CAD

  • #11,861
  • Aug 24, 2017 1:58pm Aug 24, 2017 1:58pm
Still selling mode for me..TP at least 1.24840 in TFH4...
  • #11,862
  • Aug 25, 2017 9:37am Aug 25, 2017 9:37am
Good gains the previous week, lost of them this week. I have the feeling it's not the end of the depreciation.
  • #11,863
  • Aug 27, 2017 12:24pm Aug 27, 2017 12:24pm
ready for this week....some said going to 1.29++ (as long as not break 1.24++)....
Attached Image (click to enlarge)
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  • #11,864
  • Aug 27, 2017 12:54pm Aug 27, 2017 12:54pm
CAD bulls is 85% already...its overcrowded. Can't say it can't go lower, but i would definitely look for big longs once it cracks 90%. It could print new monthly lows though...waiting

Same thing for EUR, its bull 85%...it was 92% last time it hit 1,191x.
Waiting for another bull then all in for shorts for a retrace everywhere

DXY is 17% bulls...below 10% and i'll buy Dollar
COT: The precious data ignored
  • #11,865
  • Aug 27, 2017 1:57pm Aug 27, 2017 1:57pm
Quoting kuroro001
CAD bulls is 85% already...its overcrowded. Can't say it can't go lower, but i would definitely look for big longs once it cracks 90%. It could print new monthly lows though...waiting Same thing for EUR, its bull 85%...it was 92% last time it hit 1,191x. Waiting for another bull then all in for shorts for a retrace everywhere DXY is 17% bulls...below 10% and i'll buy Dollar
That's a very interesting approach. Have you found this sort of data or market sentiment to be useful to your trading?
  • #11,866
  • Aug 27, 2017 2:52pm Aug 27, 2017 2:52pm
Quoting SophieFX
{quote} That's a very interesting approach. Have you found this sort of data or market sentiment to be useful to your trading?
Yes Sophis, market sentiment is my best tool when it comes to fx trading
market sentiment + PA + volume is what I use
market sentiment is more for mid term trading.
COT: The precious data ignored
  • #11,867
  • Aug 27, 2017 3:37pm Aug 27, 2017 3:37pm
how big of an impact will the hurricane in texas play on the opening you rekkon? i would expect a gapdown, but with how much?
  • #11,868
  • Aug 27, 2017 3:57pm Aug 27, 2017 3:57pm
Quoting Liquidsnake
how big of an impact will the hurricane in texas play on the opening you rekkon? i would expect a gapdown, but with how much?
Not much of one atm ,,,,,,sitting around 2473 currently
  • #11,869
  • Aug 27, 2017 3:59pm Aug 27, 2017 3:59pm
Quoting digger1
{quote} Not much of one atm ,,,,,,sitting around 2473 currently

where is it you find this info again, forgott the site, openfx?
  • #11,870
  • Aug 27, 2017 4:03pm Aug 27, 2017 4:03pm
Quoting Liquidsnake
{quote} where is it you find this info again, forgott the site, openfx?
My charts tell me lol,,,,,,,,xe .com is a site you can check or Bloomberg
  • #11,871
  • Aug 27, 2017 4:13pm Aug 27, 2017 4:13pm
Just kinda the follow thru from Friday more or less
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  • #11,872
  • Aug 27, 2017 4:57pm Aug 27, 2017 4:57pm
Quoting digger1
{quote} My charts tell me lol,,,,,,,,xe .com is a site you can check or Bloomberg
hehe no i mean where do you see live quotes during market close. can u link please
  • #11,873
  • Aug 27, 2017 5:06pm Aug 27, 2017 5:06pm
Quoting Liquidsnake
{quote} hehe no i mean where do you see live quotes during market close. can u link please
xe.com ,Bloomberg also has live updates before mkt open
  • #11,874
  • Aug 27, 2017 5:24pm Aug 27, 2017 5:24pm
Just Sharing

Here's why stepping aside on USDCAD for now is advisable from a technical perspective.

The pair has been on the downside for some time. However, on the weekly time frame, buyers strongly intervened to push price higher four weeks ago. Nevertheless, lack of follow-through three weeks ago opened an opportunity for bearish price action a week later, resulting in a rejection pinbar around a significant S/R zone breaching the monthly central pivot southward.

On the H4 time frame, price action is respecting a resistance trendline (magenta colour) from the high of June 9, 2017. Although all technicals point to a bearish continuation, the last session on Friday saw the buyers influential. As price action is in an area of strong support, we may see some sideways operation for the early part of this week; any movement either upward or downward may be limited. It may be advisable to step aside for clarity in price action.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
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Do your homework, follow the footprints of smart money
  • #11,875
  • Aug 27, 2017 7:45pm Aug 27, 2017 7:45pm
Quoting KeenPips
Just Sharing Here's why stepping aside on USDCAD for now is advisable from a technical perspective. The pair has been on the downside for some time. However, on the weekly time frame, buyers strongly intervened to push price higher four weeks ago. Nevertheless, lack of follow-through three weeks ago opened an opportunity for bearish price action a week later, resulting in a rejection pinbar around a significant S/R zone breaching the monthly central pivot southward. On the H4 time frame, price action is respecting a resistance trendline (magenta...
Thanks for sharing, downside movement limited around 1.24 handle.
  • #11,876
  • Aug 27, 2017 8:29pm Aug 27, 2017 8:29pm
Quoting csc2009
{quote} Thanks for sharing, downside movement limited around 1.24 handle.
70 pips is a good sized limit lol,,,,,,,,obviously a lot of wiggle room on a monthly but down side risk a tad larger also, just saying , dont bet all your apples at 1.24,,,,and that is a few apples awy yet. cheers man
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  • #11,877
  • Aug 28, 2017 9:01am Aug 28, 2017 9:01am
i took a long at 2450.
  • #11,878
  • Aug 28, 2017 9:54am Aug 28, 2017 9:54am
Long from 1.2458 looking for 60 pips. SL @BE
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Pride always comes before destruction.... -Proverbs 16:18
  • #11,879
  • Aug 28, 2017 1:13pm Aug 28, 2017 1:13pm
Quoting KeenPips
Just Sharing Here's why stepping aside on USDCAD for now is advisable from a technical perspective. The pair has been on the downside for some time. However, on the weekly time frame, buyers strongly intervened to push price higher four weeks ago. Nevertheless, lack of follow-through three weeks ago opened an opportunity for bearish price action a week later, resulting in a rejection pinbar around a significant S/R zone breaching the monthly central pivot southward. On the H4 time frame, price action is respecting a resistance trendline (magenta...
My technical outlook on the USDCAD is bearish but I had stayed on the sidelines to wait for price action to retrace to an area of value. Once price action gives me the signal I am looking for around the 1.25310 area, I will look for a sell trading opportunity.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #11,880
  • Aug 28, 2017 3:23pm Aug 28, 2017 3:23pm
I am betting on the recent events in TX and Trumps threat of a govt shut down to weaken the USD all around. Already taking losses against the EURO. But it looks like the USD is still trying to stay strong. What I haven't been able to factor in is how will or has the NAFTA negotiations weighed in.
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