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USD/CAD

  • #12,581
  • Dec 28, 2017 11:15am Dec 28, 2017 11:15am
Quoting OpenRoad
{quote} {image} Me too, I'm feeling the bounce of daily trendline [email protected] what's your upside target?
First target around 1.2780.

Ultimately I think UCAD could test 1.30 but I believe WTI CRUDE would have to sell off back to the 55 area for that to happen.

Cheers and safe trading
Pride always comes before destruction.... -Proverbs 16:18
  • #12,582
  • Dec 28, 2017 1:46pm Dec 28, 2017 1:46pm
Quoting Expo33
{quote} First target around 1.2780. Ultimately I think UCAD could test 1.30 but I believe WTI CRUDE would have to sell off back to the 55 area for that to happen. Cheers and safe trading
10-4 I'm with you on this one, piling up a little looking for 200 pips north.
  • #12,583
  • Dec 28, 2017 3:44pm Dec 28, 2017 3:44pm
Just lost one of the positions I entered late
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 16.0%
  • #12,584
  • Dec 28, 2017 5:33pm Dec 28, 2017 5:33pm
Quoting Expo33
{quote} First target around 1.2780. Ultimately I think UCAD could test 1.30 but I believe WTI CRUDE would have to sell off back to the 55 area for that to happen. Cheers and safe trading
Attached Image (click to enlarge)
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  • #12,585
  • Dec 29, 2017 12:13am Dec 29, 2017 12:13am
I honestly thought this would have turned by now.
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #12,586
  • Edited 2:34am Dec 29, 2017 1:11am | Edited 2:34am
Quoting OhComeOn
I honestly thought this would have turned by now.
Oil broke thru 60 and is now at 60.20

Patience is needed. Before smart money gets long, they need to slowly but surely torture the retailers that got long to early. There is likely a lot of dumb money stuck long in the 1.2640 area hanging on for dear life. We may even see one last surge down to 1.2520 area just to make sure all the stuck longs are blown up.

Don't forget, end of the year low liquidity and nothing usually happens during the Asian session anyways. Frankfurt just opened and London soon. Between 5am-6am EST is when London usually shows it's hand.

I'm scaled in heavily from 1.2585 to 1.2535 and am very comfortable with my position. SLs down at 1.2455 (untested demand at 1.2475 so 1.2455 should be safe) Small positions so plenty of margin left to allow this trade time to breathe.
Pride always comes before destruction.... -Proverbs 16:18
  • #12,587
  • Dec 29, 2017 3:14pm Dec 29, 2017 3:14pm
Quoting Expo33
{quote} Oil broke thru 60 and is now at 60.20 Patience is needed. Before smart money gets long, they need to slowly but surely torture the retailers that got long to early. There is likely a lot of dumb money stuck long in the 1.2640 area hanging on for dear life. We may even see one last surge down to 1.2520 area just to make sure all the stuck longs are blown up. Don't forget, end of the year low liquidity and nothing usually happens during the Asian session anyways. Frankfurt just opened and London soon. Between 5am-6am EST is when London usually...
As suspected, market makers cleaned out stops down to 1.2515. An over extended Wolfe wave as the endpoint of a larger harmonic structure. Hoping this will be the blast off trade heading into 2018.
Attached Image (click to enlarge)
Click to Enlarge Name: UCAD.png Size: 77 KB

Nice to start 2018 with this Daily hammer candlestick. 50 pip shadow. Let's see if the New Year confirms it on Monday
Attached Image
Pride always comes before destruction.... -Proverbs 16:18
  • #12,588
  • Dec 29, 2017 3:25pm Dec 29, 2017 3:25pm
Nice to start 2018 with this Daily hammer candlestick. 50 pip shadow. Let's see if the New Year confirms it on Monday
You mean it can reach to 1.2700?
good luck
  • #12,589
  • Dec 29, 2017 3:35pm Dec 29, 2017 3:35pm
Quoting Expo33
{quote} As suspected, market makers cleaned out stops down to 1.2515. An over extended Wolfe wave as the endpoint of a larger harmonic structure. Hoping this will be the blast off trade heading into 2018. {image} Nice to start 2018 with this Daily hammer candlestick. 50 pip shadow. Let's see if the New Year confirms it on Monday {image}
Same picture here as well. I am also heavy short on CJ which should drop south rather fast next month.

Happy New year and best of trading 2018
In trading, you have to be defensive and aggressive at the same time
  • #12,590
  • Dec 29, 2017 3:43pm Dec 29, 2017 3:43pm
Quoting Davit
{quote} Same picture here as well. I am also heavy short on CJ which should drop south rather fast next month. Happy New year and best of trading 2018
Agree, CJ has a nice downside potential.

Cheers to a healthy and prosperous 2018!!
Pride always comes before destruction.... -Proverbs 16:18
  • #12,591
  • Dec 29, 2017 3:46pm Dec 29, 2017 3:46pm
Quoting tito5615104
Nice to start 2018 with this Daily hammer candlestick. 50 pip shadow. Let's see if the New Year confirms it on Monday You mean it can reach to 1.2700?
I am planning on holding this long term. 127 would be a partial profit target area but I am looking at 133.50 as my ultimate target with a 3-6 month time frame. For now, one day at a time and see what develops.
Pride always comes before destruction.... -Proverbs 16:18
  • #12,592
  • Dec 29, 2017 6:17pm Dec 29, 2017 6:17pm
Attached Image (click to enlarge)
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Quoting expo33
{quote} i am planning on holding this long term. 127 would be a partial profit target area but i am looking at 133.50 as my ultimate target with a 3-6 month time frame. For now, one day at a time and see what develops.
Attached Image (click to enlarge)
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  • #12,593
  • Dec 29, 2017 6:18pm Dec 29, 2017 6:18pm
Quoting Expo33
{quote} I am planning on holding this long term. 127 would be a partial profit target area but I am looking at 133.50 as my ultimate target with a 3-6 month time frame. For now, one day at a time and see what develops.
Great minds think alike!
  • #12,594
  • Dec 29, 2017 6:25pm Dec 29, 2017 6:25pm
Quoting OpenRoad
{quote}Great minds think alike!
Time wise (w=y)@39 Days
  • #12,595
  • Dec 29, 2017 6:53pm Dec 29, 2017 6:53pm
got in n out bcz I trade wave
Attached Image (click to enlarge)
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wave pays over trend, see chart
Attached Image (click to enlarge)
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Sweet geen eighteen to you all.
  • #12,596
  • Dec 30, 2017 6:23am Dec 30, 2017 6:23am
CAD holding up strong.
  • #12,597
  • Dec 30, 2017 5:38pm Dec 30, 2017 5:38pm
USDCAD is being accumulated, an easy 200 pips move up should come up....and a rise to 1,3x possible
COT: The precious data ignored
  • #12,598
  • Dec 30, 2017 11:58pm Dec 30, 2017 11:58pm
Quoting aeternum
I will always be selling this pair. It's currently way too overvalued. Plenty of down wards move to go, just a matter of how fast it takes to get there
Still going to sell this to kingdom come
A 1 pip gain is better than a 1 pip loss.
  • #12,599
  • Dec 31, 2017 1:13pm Dec 31, 2017 1:13pm
Monthly long bullish setup still valid, the strong Pin Bar
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 16.0%
  • #12,600
  • Dec 31, 2017 1:21pm Dec 31, 2017 1:21pm
Weekly and daily TFs traders would find good entry point again. One of my positions still in place- lost one I got got in late
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: 16.0%
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