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USD/CAD

  • #12,601
  • Dec 31, 2017 1:31pm Dec 31, 2017 1:31pm
Most say UC will go up.

That means it will go down. :-D

Sometimes even with long trading experience or usually reliable fundamental/technical analysis, one ends up with a losing trade.
  • #12,602
  • Dec 31, 2017 1:44pm Dec 31, 2017 1:44pm
[quote=raklian;10630820] Sometimes

correct, that's trading
  • #12,603
  • Dec 31, 2017 1:48pm Dec 31, 2017 1:48pm
[quote=Squiggles;10630828]
Quoting raklian
Sometimes correct, that's trading
I lose most of the time but I end up on top at the end of each quarter. It used to hurt like hell but I've become desensitized to it. Thinking long term (we're talking several months or quarters) when it comes to profitability can be extremely helpful.
  • #12,604
  • Dec 31, 2017 2:03pm Dec 31, 2017 2:03pm
Taking a long-tern view when defining trading success is particularly beneficial. It reduces anxiety, fear and engaging in risky trading habits. It enables the trader to focus on areas they can improve upon to become better and successful in trading.

Trade safe and prosper.

KP

[quote=raklian;10630833]
Quoting Squiggles
{quote} I lose most of the time but I end up on top at the end of each quarter. It used to hurt like hell but I've become desensitized to it. Thinking long term (we're talking several months or quarters) when it comes to profitability can be extremely helpful.
Do your homework, follow the footprints of smart money
  • #12,605
  • Jan 1, 2018 3:49pm Jan 1, 2018 3:49pm
Here's a technical perspective on the USDCAD.

On the daily time frame, it is apparent that from May 2017, price action has formed three impulsive price waves southward with two accompanying corrective waves. The third corrective wave started in September 2017 and formed a wedge pattern (bound in magenta coloured lines). This wedge was broken southward by price action last week but we may see a retracement in an attempt to retest the broken support channel line and flip it to resistance before a southward moves gains momentum. It is possible that price action may turn around before reaching the broken channel support as the 1.26320 area could act as a resistance zone, albeit a minor one. Nevertheless, a southward turnaround from an upward retracement is likely to expose the 1.21570 handle.


I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_Top-Down_Analyis_D1_31st_Dec.,_2017.png Size: 40 KB
Do your homework, follow the footprints of smart money
  • #12,606
  • Jan 1, 2018 10:54pm Jan 1, 2018 10:54pm
1.2500 can be the key psychological level on the downside.
  • #12,607
  • Jan 2, 2018 6:40pm Jan 2, 2018 6:40pm
I think it will bounce back up at 1.2400 on Friday, january 5.
slowly learning.
  • #12,608
  • Jan 2, 2018 9:20pm Jan 2, 2018 9:20pm
Quoting roystephen
I think it will bounce back up at 1.2400 on Friday, january 5.
how do you think this will happen on 5th? Any supporting information
  • #12,609
  • Jan 3, 2018 7:23am Jan 3, 2018 7:23am
H1 Typical impulse wave c down from 12th December top, due for completion near 1.2470, setting up for medium-term longs.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1 3Jan18.png Size: 47 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #12,610
  • Jan 3, 2018 8:51am Jan 3, 2018 8:51am
I think there is some potential here for the pair to either slow its sell-off or retrace a little bit.

Attached Image (click to enlarge)
Click to Enlarge Name: report 01-03-2018 07-49.png Size: 721 KB
When you hit 50, coffee becomes part of a proper modeling pipeline.
  • #12,611
  • Jan 3, 2018 9:26am Jan 3, 2018 9:26am
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 52 KB
  • #12,612
  • Jan 3, 2018 9:48am Jan 3, 2018 9:48am
Quoting RaoAtik
{quote} how do you think this will happen on 5th? Any supporting information
He's probably using this new indicator
Attached Image (click to enlarge)
Click to Enlarge Name: crystal.jpg Size: 238 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #12,613
  • Jan 3, 2018 9:49am Jan 3, 2018 9:49am
Small longs at 1.2531. Trade is light and anyone with 50 lots or more can move this market, but I am still willing to take a chance. After long relentless decline there is bound to be profit taking soon.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 82 KB
Ecclesiastes 1:9
  • #12,614
  • Jan 3, 2018 9:53am Jan 3, 2018 9:53am
Quoting newbegger
Small longs at 1.2531. Trade is light and anyone with 50 lots or more can move this market, but I am still willing to take a chance. After long relentless decline there is bound to be profit taking soon. {image}
50 lots would have zero impact on price.
Pride always comes before destruction.... -Proverbs 16:18
  • #12,615
  • Jan 3, 2018 3:57pm Jan 3, 2018 3:57pm
Quoting Expo33
{quote} He's probably using this new indicator {image}
OMG!! That is a pretty good indicator, but even better when combined with this!
Attached Image


TOTALLY MAXIMIZED WITH MAGIC 8 BALL!!!!
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #12,616
  • Jan 3, 2018 4:00pm Jan 3, 2018 4:00pm
Please note, in last post, that is a MAGIC coin. Not your ordinary coin. Must be blessed by the garden gnomes, trust me, it is a long ceremony.
"What the wise do in the beginning, fools do in the end."-Warren Buffet
  • #12,617
  • Jan 4, 2018 5:15am Jan 4, 2018 5:15am
Hi,
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM30.png Size: 55 KB
We Can
  • #12,618
  • Jan 4, 2018 1:42pm Jan 4, 2018 1:42pm
Pair just created a new low. I wonder if this is the actual bottom.
  • #12,619
  • Jan 4, 2018 9:03pm Jan 4, 2018 9:03pm
mirror image ?
Attached Image (click to enlarge)
Click to Enlarge Name: MI.png Size: 61 KB
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