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USD/CAD

  • #12,801
  • Mar 29, 2018 4:20am Mar 29, 2018 4:20am
We maintain the same bearish outlook.
The possible head & shoulders on 240m chart is supportive

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  • #12,802
  • Mar 29, 2018 4:40am Mar 29, 2018 4:40am
We are waiting for some news. I think it is today.
Gone to a better place
  • #12,803
  • Mar 30, 2018 6:24pm Mar 30, 2018 6:24pm
The pair will probably continue consolidation around 1.29 level during the holiday.
  • #12,804
  • Mar 31, 2018 7:30am Mar 31, 2018 7:30am
USD/CAD is moving up nicely.
  • #12,805
  • Mar 31, 2018 10:23am Mar 31, 2018 10:23am
Bulls and bears fighting against each other here. Pending breakouts but more inclined to the bears at this moment. Watch for a clean break of 1.282x
A 1 pip gain is better than a 1 pip loss.
  • #12,806
  • Apr 1, 2018 11:40pm Apr 1, 2018 11:40pm
Monthly close looks interesting.
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Price is King
  • #12,807
  • Apr 3, 2018 8:57am Apr 3, 2018 8:57am
We are at bottom of the range now. Break or bounce?
A 1 pip gain is better than a 1 pip loss.
  • #12,808
  • Apr 3, 2018 10:11pm Apr 3, 2018 10:11pm
USD/CAD - D1 downtrend in place. Set a price alarm at 1.2780. Overall potential is excellent if the W1 downtrend forms.

It takes a lot for me to IGNORE you, but you can try.
  • #12,809
  • Apr 4, 2018 1:01am Apr 4, 2018 1:01am
Quoting Erebus
USD/CAD - D1 downtrend in place. Set a price alarm at 1.2780. Overall potential is excellent if the W1 downtrend forms.
It may bounce up to 1.31xxx . Be careful.
  • #12,810
  • Apr 4, 2018 1:41am Apr 4, 2018 1:41am
Quoting grandaevus
{quote} It may bounce up to 1.31xxx . Be careful.
Yes, good advice thanks, USD is very mixed right now with USDCHF and USDJPY trying to go UP ?

And AUDUSD and NZDUSD also trying to go UP ? not possible for long

EURUSD and GBP could go either way

Hence the price ALERT only, can't give trade advice anyway

What news on the CMSM my friend?

I had another thought about the settings where you said they should be higher to screen out weaker pairs....

But when trading a basket, we should include all signals as the more pairs in the basket, more chance there may be a "runner"?

That is, the weak signal may develop into a stronger signal, and the earlier the trade is open, the better for possible profit.

Anyway, I'm not using the EA so just a thought I had.
It takes a lot for me to IGNORE you, but you can try.
  • #12,811
  • Edited 2:12am Apr 4, 2018 1:53am | Edited 2:12am
Quoting Erebus
{quote} Yes, good advice thanks, USD is very mixed right now with USDCHF and USDJPY trying to go UP ? And AUDUSD and NZDUSD also trying to go UP ? not possible for long EURUSD and GBP could go either way Hence the price ALERT only, can't give trade advice anyway What news on the CMSM my friend? I had another thought about the settings where you said they should be higher to screen out weaker pairs.... But when trading a basket, we should include all signals as the more pairs in the basket, more chance there may be a "runner"? That is, the weak signal...
CCFp, CCFp-Diff & CMSM may give false suggestions this week.

Why? Because they use 3, 5 ma period and this period covers Friday and Monday daily candles where all banks were closed for Good Friday & Easter.

Price action on those days might not show the true market sentiment so using CCFp-Diff & CMSM this week wouldn't be a good idea.
  • #12,812
  • Apr 4, 2018 3:38am Apr 4, 2018 3:38am
Quoting Samson85
May want to pay attention to this as there is money to be made on cad as nafta deal is nearing and boc will hike as cpi came out very good. I'm going long cad/jpy. I don't normally swing trade safe haven currencies but I believe cad will over power jpy and all this wall street chaos will die down soon. {image}
NAFTA deal is a bit overdone at the moment and being over shadowed by the latest tariff news out of China. Risk off sentiment back in the air. Oil selling off as well. The best laid plans of mice and men.

Technically, why would anyone be buying into the supply area? If I were a buyer (which I'm not), I would be waiting for a break of 83.50 then getting long on a retest. A rejection as is happening now makes the buy zone 100 pips lower around the 82.15-82.35 area
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Pride always comes before destruction.... -Proverbs 16:18
  • #12,813
  • Apr 4, 2018 4:55am Apr 4, 2018 4:55am
Quoting Expo33
{quote} NAFTA deal is a bit overdone at the moment and being over shadowed by the latest tariff news out of China. Risk off sentiment back in the air. Oil selling off as well. The best laid plans of mice and men. Technically, why would anyone be buying into the supply area? If I were a buyer (which I'm not), I would be waiting for a break of 83.50 then getting long on a retest. A rejection as is happening now makes the buy zone 100 pips lower around the 82.15-82.35 area {image}

I agree with you and I thought the trade situation would have died down hence the risk on sentiment recently but oh well trade war has elevated.

The news came out after I posted the last thread.
  • #12,814
  • Apr 4, 2018 8:02am Apr 4, 2018 8:02am
Any thoughts for today?
slowly learning.
  • #12,815
  • Apr 4, 2018 3:24pm Apr 4, 2018 3:24pm
Quoting Expo33
{quote} NAFTA deal is a bit overdone at the moment and being over shadowed by the latest tariff news out of China. Risk off sentiment back in the air. Oil selling off as well. The best laid plans of mice and men. Technically, why would anyone be buying into the supply area? If I were a buyer (which I'm not), I would be waiting for a break of 83.50 then getting long on a retest. A rejection as is happening now makes the buy zone 100 pips lower around the 82.15-82.35 area {image}

The risk off sentiment helped provide a pullback for yesterday's gains which I got in on.

Traders seem to be taking positivity from nafta but the trade war is going to tie the arms of poloz
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  • #12,816
  • Apr 4, 2018 4:34pm Apr 4, 2018 4:34pm
Quoting Samson85
{quote} The risk off sentiment helped provide a pullback for yesterday's gains which I got in on. Traders seem to be taking positivity from nafta but the trade war is going to tie the arms of poloz {image}
In my opinion the CAD spike across the board had nothing to do with NAFTA or trade tariffs news. The DOW rally got the party started but the real fuel for this move was more likely the oil inventory print and the subsequent 2% spike in oil prices.
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Pride always comes before destruction.... -Proverbs 16:18
  • #12,817
  • Apr 4, 2018 6:21pm Apr 4, 2018 6:21pm
Quoting grandaevus
{quote} It may bounce up to 1.31xxx . Be careful.
Didn't happen yet
It takes a lot for me to IGNORE you, but you can try.
  • #12,818
  • Apr 4, 2018 7:41pm Apr 4, 2018 7:41pm
Quoting Expo33
{quote} In my opinion the CAD spike across the board had nothing to do with NAFTA or trade tariffs news. The DOW rally got the party started but the real fuel for this move was more likely the oil inventory print and the subsequent 2% spike in oil prices. {image} {image}
It wasn't the inventories that caused it alone. Tensions were eased between the US and China. Also nafta news has been flying about.
You also have to remember that the recent cpi result came out very good.
  • #12,819
  • Edited 8:48pm Apr 4, 2018 8:17pm | Edited 8:48pm
Quoting Samson85
{quote} It wasn't the inventories that caused it alone. Tensions were eased between the US and China. Also nafta news has been flying about. You also have to remember that the recent cpi result came out very good.
I agree with you. It's a pretty dynamic situation at the moment.

Personally, I think most of the "tensions" are blown out of proportion. Just excuses or more like opportunities for smart money to move the market.

The same players who are buyers suddenly are selling 100 pips down on tariff news. Then suddenly the world is back to marsh mellows and rainbows and they are buying again. As a technician, I just wait for the market to move into my buy/sell zone. How and why it gets there in most cases is irrelevant to me.

Cheers and safe trading
Pride always comes before destruction.... -Proverbs 16:18
  • #12,820
  • Apr 4, 2018 10:43pm Apr 4, 2018 10:43pm
Quoting Expo33
{quote} I agree with you. It's a pretty dynamic situation at the moment. Personally, I think most of the "tensions" are blown out of proportion. Just excuses or more like opportunities for smart money to move the market. The same players who are buyers suddenly are selling 100 pips down on tariff news. Then suddenly the world is back to marsh mellows and rainbows and they are buying again. As a technician, I just wait for the market to move into my buy/sell zone. How and why it gets there in most cases is irrelevant to me. Cheers and safe trading...
Your right because as I am reading your reply on CNN trump is quoted saying we are not in a trade war.

What is confusing right now is forexlive.com will say it's nafta but when I ask ransquawk they will say nafta is old news and that it's technical and trade wars driving price.

It gets pretty confusing knowing what is driving what but you can make very good money from the reversals
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