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  • #12,901
  • Apr 12, 2018 3:51pm Apr 12, 2018 3:51pm
Quoting Lynn9533
{quote} Your entry is ideal, good job!! I also think USDCAD is in uptrend too. In M15 chart we can see a perfect trendline there. {image}
Thank you
  • #12,902
  • Apr 12, 2018 3:57pm Apr 12, 2018 3:57pm
Eurcad is also looking good to buy around 1.5400-40 sl below weekly trendline and daily 100 ma would give it a good support bounce
Attached Image (click to enlarge)
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  • #12,903
  • Apr 12, 2018 11:15pm Apr 12, 2018 11:15pm
Quoting Sohailshah
Eurcad is also looking good to buy around 1.5400-40 sl below weekly trendline and daily 100 ma would give it a good support bounce {image}
Normally I agree with you, but in current situation, I would watch Oil prices and also keep an eye on impending Syria bombing.
oil prices seems to help CAD and Syrian escalation will put oil on fire
If god forbid, russians shoot down american missile, then CAD will fly
  • #12,904
  • Apr 12, 2018 11:25pm Apr 12, 2018 11:25pm
Quoting charron
{quote} Normally I agree with you, but in current situation, I would watch Oil prices and also keep an eye on impending Syria bombing. oil prices seems to help CAD and Syrian escalation will put oil on fire If god forbid, russians shoot down american missile, then CAD will fly
I was thinking the same thing but I did not want to come across negative and pessimistic.

This article explains it all: https://forexlive.com/news/!/citi-on...gains-20180413
  • #12,905
  • Apr 12, 2018 11:30pm Apr 12, 2018 11:30pm
Quoting Samson85
{quote} I was thinking the same thing but I did not want to come across negative and pessimistic. This article explains it all: https://forexlive.com/news/!/citi-on...gains-20180413
Article??

Here I'll paraphrase the 3 sentence/snippet "article".

Sell UCAD, CB potentially hawkish, inflation good. THE END

Doesn't really "explain" anything. Just regurgitates what we already know. (or should know if we are traders)
Pride always comes before destruction.... -Proverbs 16:18
  • #12,906
  • Apr 13, 2018 12:06am Apr 13, 2018 12:06am
You don't need an article to see that oil is in uptrend (which helps CAD)
combine that with tendency of US to engage in trade wars clearly is bearish for USD/CAD
Add in some middle east conflicts and you will see why things look bearish
  • #12,907
  • Apr 13, 2018 12:06am Apr 13, 2018 12:06am
Quoting Expo33
{quote} Article?? Here I'll paraphrase the 3 sentence/snippet "article". Sell UCAD, CB potentially hawkish, inflation good. THE END Doesn't really "explain" anything. Just regurgitates what we already know. (or should know if we are traders)

Expo last trading day of the week. Chill and relax lol
  • #12,908
  • Apr 13, 2018 12:18am Apr 13, 2018 12:18am
Quoting Samson85
{quote} Expo last trading day of the week. Chill and relax lol
I'm always chill.

Actually got back in short this morning from 1.2610. Stop loss moved to BE+10. Free rolling into the weekend.
Attached Image (click to enlarge)
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Pride always comes before destruction.... -Proverbs 16:18
  • #12,909
  • Apr 13, 2018 2:38am Apr 13, 2018 2:38am
Quoting Beyfor
{quote} The market is performing exactly as expected {image}
In update to our previous outlook
It is recommended to take profit on the short position between 1.2535 and 1.2505 area

Attached Image (click to enlarge)
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  • #12,910
  • Apr 13, 2018 4:08am Apr 13, 2018 4:08am
This pair is now firmly on my radar for long orders and I’m stalking it right now
  • #12,911
  • Apr 13, 2018 4:13am Apr 13, 2018 4:13am
Beware, oil in full on breakout mode now. Still holding UCAD short. I think 1.2450 - 1.2425 area is still possible

On the weekly blue skies for oil up to 75. A weekly close above 67 is significant.
WTI CRUDE HOURLY
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WTI CRUDE WEEKLY
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UCAD WEEKLY
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Pride always comes before destruction.... -Proverbs 16:18
  • #12,912
  • Apr 13, 2018 4:20am Apr 13, 2018 4:20am
Quoting Expo33
Beware, oil in full on breakout mode now. Still holding UCAD short. I think 1.2450 - 1.2425 area is still possible On the weekly blue skies for oil up to 75. A weekly close above 67 is significant. WTI CRUDE HOURLY {image} WTI CRUDE WEEKLY {image} UCAD WEEKLY {image}

100% agree although you beat me to the post
  • #12,913
  • Apr 13, 2018 9:29am Apr 13, 2018 9:29am
anybody going for usd/cad long now?
  • #12,914
  • Apr 13, 2018 9:33am Apr 13, 2018 9:33am
Quoting Suj
anybody going for usd/cad long now?
If your looking for a quick scalp then up to you. If your looking to hold it over the weekend and you can manage to sleep then you're special. I wouldn't go long due to a little dollar strength on a friday
  • #12,915
  • Apr 13, 2018 9:41am Apr 13, 2018 9:41am
I'm looking to go long at about 1.25-1.2450.
  • #12,916
  • Edited 1:52pm Apr 13, 2018 11:08am | Edited 1:52pm
I just watched a short video explaining cad strength (by a mini hedge fund manager) and there is a 30% chance we could see a rate hike next week which could result in a 200-300 pip move for cad.

Last time the numbers were super strong I went long cad/jpy minutes before a release late last year and made over 100+ pips in seconds. I also pressed buy immediately when I saw the rate increase via my brokers calendar which delivers data instantly. I have a hunch they will hike because nafta is a done deal even without official announcement.

Cpi is above target and employment is strong.

I think we will see cad strength from Monday to Wednesday with anticipation of a hike. So get your shorts ready for Monday.


Those going long usd/cad be sure to check this out - https://forexlive.com/news/!/the-can...-week-20180413
  • #12,917
  • Apr 13, 2018 2:55pm Apr 13, 2018 2:55pm
Quoting Samson85
I just watched a short video explaining cad strength (by a mini hedge fund manager) and there is a 30% chance we could see a rate hike next week which could result in a 200-300 pip move for cad. Last time the numbers were super strong I went long cad/jpy minutes before a release late last year and made over 100+ pips in seconds. I also pressed buy immediately when I saw the rate increase via my brokers calendar which delivers data instantly. I have a hunch they will hike because nafta is a done deal even without official announcement. Cpi is above...
Why do you post these little snippets? Just a couple of regurgitated statements of what happened in the market after it already happened. There are actual traders on FF that have been making money in markets when this 'talking head' was still in diapers. I'd rather read their opinions and do a little of my own critical thinking and then couple that with price action/technical analysis.

How about this statement. It was a "risk on" week. PERIOD.
Pride always comes before destruction.... -Proverbs 16:18
  • #12,918
  • Edited 3:32pm Apr 13, 2018 3:20pm | Edited 3:32pm
Quoting Samson85
I just watched a short video explaining cad strength (by a mini hedge fund manager) and there is a 30% chance we could see a rate hike next week which could result in a 200-300 pip move for cad. Last time the numbers were super strong I went long cad/jpy minutes before a release late last year and made over 100+ pips in seconds. I also pressed buy immediately when I saw the rate increase via my brokers calendar which delivers data instantly. I have a hunch they will hike because nafta is a done deal even without official announcement. Cpi is above...
Here's some technical analysis to inspire you to spend a little more time looking at price action on the chart and a little less time listening to some guy who gets paid to post a few regurgitate snippets on a forex website.

Last night around London's open price action told the story. Take this into consideration when looking at the "green circle" on the chart. Oil was still hanging onto it's gains at that time AND US equity futures pointed to a positive open. Both of which are CAD positive. BUT, in looking at the chart, UCAD price could not take out the most recent low. All those wicks paint a picture of demand. Thus, the short term correlation with oil/equities broke and price made a technical move right back to previous resistance and then stopped dead in it's tracks.

BUT BUT BUT you say it's probably just profit taking. Absolutely, maybe it is, but price action in many cases is what signals when its time to take profit. Clearly their were no more dynamic traders willing to sell at the half number 1.2550, and news doesn't "move" price, dynamic traders do.

Point being, there wasn't any significant news, no new narrative, no one on Ransquawk said anything about a UCAD morning erection, just pure price action inevitably reflecting human behavior, and easily discerned through technical analysis.
Attached Image (click to enlarge)
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Pride always comes before destruction.... -Proverbs 16:18
  • #12,919
  • Apr 13, 2018 5:20pm Apr 13, 2018 5:20pm
Quoting Expo33
{quote} Here's some technical analysis to inspire you to spend a little more time looking at price action on the chart and a little less time listening to some guy who gets paid to post a few regurgitate snippets on a forex website. Last night around London's open price action told the story. Take this into consideration when looking at the "green circle" on the chart. Oil was still hanging onto it's gains at that time AND US equity futures pointed to a positive open. Both of which are CAD positive. BUT, in looking at the chart, UCAD price could...

Hahahahahahahah Expo please it's Friday night. Chill out and have a coffee lol.

Let's leave the debate till next week and all this talk of diapers lol
  • #12,920
  • Apr 13, 2018 6:36pm Apr 13, 2018 6:36pm
Quoting Samson85
{quote} Hahahahahahahah Expo please it's Friday night. Chill out and have a coffee lol. Let's leave the debate till next week and all this talk of diapers lol
lol
Be humble or get humbled
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