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  • #12,381
  • Nov 2, 2017 4:02pm Nov 2, 2017 4:02pm
It looks like Powell will be the next fed chair. Since he vows to not make any changes to monitary policy if the economy stays on track which it’s projected to do according to yesterday’s press release. With all the riff raff out of the way now we can make easier decisions.
Stacking pips since 2002
  • #12,382
  • Nov 3, 2017 3:05am Nov 3, 2017 3:05am
Will not be trading much today as the NFP is coming. Waiting patiently.
  • #12,383
  • Nov 3, 2017 3:15am Nov 3, 2017 3:15am
Some scenarios we made for USD/CAD pair. It will be a big day for both of US and CANADA when their own economic data are released. With the stronger recently of US dollar, we incline to scenario that the green back will continuously advance (cobalt blue line).
Trading strategies:
Small USD/CAD buy position at 1.2781, stoploss at 1.2740, target at 1.3000.
https://www.tradingview.com/x/MFEmArh7/
  • #12,384
  • Nov 3, 2017 3:53am Nov 3, 2017 3:53am
USDCAD
========
Quick notes
-50% retracement on daily
-Possible double top on 240 (needs confirmation)
-Oscillator bearish cross

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad 2.jpg Size: 106 KB

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad 1.jpg Size: 143 KB


LINK
  • #12,385
  • Edited 11:13am Nov 3, 2017 11:01am | Edited 11:13am
Hey gus!I'm news here and I' start to learn tradiing few months ago and now u just bought usdcad ,eurusd... I would like to know if there is same thread for biginner traders?
I would like to know what are the minimum thing that we should to know to be able to make same money in trading?
I'm starting few months ago on etoro and trading crypto but I want to learn more about forex...
Thank you so much. All your ideas will be good for me coz I'm lost now!
  • #12,386
  • Nov 3, 2017 11:19am Nov 3, 2017 11:19am
Quoting afgan84
Hey gus!I'm news here and I' start to learn tradiing few months ago and now u just bought usdcad ,eurusd... I would like to know if there is same thread for biginner traders? I would like to know what are the minimum thing that we should to know to be able to make same money in trading? I'm starting few months ago on etoro and trading crypto but I want to learn more about forex... Thank you so much. All your ideas will be good for me coz I'm lost now!
You could watch these videos. They're pretty clear, concise, and factual.
Here's Tom with the weather.
  • #12,387
  • Nov 3, 2017 11:23am Nov 3, 2017 11:23am
Everything you need to make it.

babypips.com
tradingeconomics.com

Quoting afgan84
Hey gus!I'm news here and I' start to learn tradiing few months ago and now u just bought usdcad ,eurusd... I would like to know if there is same thread for biginner traders? I would like to know what are the minimum thing that we should to know to be able to make same money in trading? I'm starting few months ago on etoro and trading crypto but I want to learn more about forex... Thank you so much. All your ideas will be good for me coz I'm lost now!
Stacking pips since 2002
  • #12,388
  • Nov 3, 2017 11:37am Nov 3, 2017 11:37am
Quoting forexjedi
Everything you need to make it. babypips.com tradingeconomics.com {quote}
That looks interesting. I'm a zero-fundamental kind of person, how do you interpret those statistics on tradingeconomics, for the United States for example?
Here's Tom with the weather.
  • #12,389
  • Nov 3, 2017 11:59am Nov 3, 2017 11:59am
The Canadian dollar lost a lot this week to the US dollar. I think that's a healthy depreciation.
  • #12,390
  • Nov 5, 2017 9:30pm Nov 5, 2017 9:30pm
Quoting arigoldman
The Canadian dollar lost a lot this week to the US dollar. I think that's a healthy depreciation.
True, The pair looks neutral and bearish for short term.
  • #12,391
  • Nov 6, 2017 6:51am Nov 6, 2017 6:51am
USD/CAD is developing within a very tight sideways consolidation at 1.2740 but I think that eventually the depreciation will contunue to 1.2700.
  • #12,392
  • Nov 6, 2017 8:43am Nov 6, 2017 8:43am
Go up to 1.28-1.2820+ and go down to 1.25 (300+pips)
Chance = 100%
Check...
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 57 KB
  • #12,393
  • Nov 6, 2017 12:11pm Nov 6, 2017 12:11pm
You can pin any two worthy countries against each other. Obviously one weak and one strong. Then go to your charts and make a technical entry.

Quoting OHLC
{quote} That looks interesting. I'm a zero-fundamental kind of person, how do you interpret those statistics on tradingeconomics, for the United States for example?
Stacking pips since 2002
  • #12,394
  • Nov 6, 2017 12:17pm Nov 6, 2017 12:17pm
Trading without economics is the same as not looking before you leap. Maybe you’ll make it and maybe you won’t. Like you wouldn’t go for a walk in the woods without a type of mapping system and knowledge of the dangers of the area even though you’re an expert outdoorsman.

Quoting OHLC
{quote} That looks interesting. I'm a zero-fundamental kind of person, how do you interpret those statistics on tradingeconomics, for the United States for example?
Stacking pips since 2002
  • #12,395
  • Nov 6, 2017 5:33pm Nov 6, 2017 5:33pm
Quoting forexjedi
Trading without economics is the same as not looking before you leap. Maybe you’ll make it and maybe you won’t. Like you wouldn’t go for a walk in the woods without a type of mapping system and knowledge of the dangers of the area even though you’re an expert outdoorsman. {quote}
And I agree with you but, reading economic data is not the only map that exists.
Here's Tom with the weather.
  • #12,396
  • Nov 7, 2017 9:32am Nov 7, 2017 9:32am
I agree 100% but why not be fully prepared. Find macros that’ll move the handle then look for a technical entry and exit.

Quoting OHLC
{quote} And I agree with you but, reading economic data is not the only map that exists.
Stacking pips since 2002
  • #12,397
  • Nov 7, 2017 9:33am Nov 7, 2017 9:33am
CAD about to strengthen?
instagram: stepbystepforex
  • #12,398
  • Nov 7, 2017 10:04am Nov 7, 2017 10:04am
Quoting forexjedi
I agree 100% but why not be fully prepared. Find macros that’ll move the handle then look for a technical entry and exit. {quote}
I guess I just don't know how economic data would be useful for my purpose. For example how would I use it on the weekend on this day here and continue using it today here? If I saw any use for it whatsoever, I'd be using it. I've never used economic data other than to realize it's pretty much impossible to predict any movement using it, at least for me. I just try to remember to look for releases so that I can adjust or just get out altogether. IMO economic data only has one purpose and otherwise, it is useless. Economic data just indicates to me that price is going to move unpredictably locally. But, the movement has always continued with the previously established bias using TA, given that the release was on the pair that I had selected to trade that day.
Here's Tom with the weather.
  • #12,399
  • Nov 7, 2017 11:30am Nov 7, 2017 11:30am
Strong consolidation above the bollinger middle band- Bullish Engulfing Pattern. Hope it works out

I mean the daily TF
Make all mistakes in demo and rain in pips in live account
  • #12,400
  • Nov 8, 2017 7:23am Nov 8, 2017 7:23am
The pair depreciated a bit, hopefully it will recover.
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