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USD/CAD

  • #14,221
  • Dec 18, 2018 11:45am Dec 18, 2018 11:45am
Quoting GreenEarth
I must admit , I did post that Oil would NOT trade below $48.00/bbl. Surprise , surprise. Thin markets , large institutions making a TON of money today. US economy IS NOT strong. Very poor numbers actually for this month y/y. Quite possible that we will see a quick reversal once the Asian and London Markets open. USD/CAD is back in the O/B region on a DAILY CHART. SEVERE RSI DIVERGENCE !!!! Oil only has to recover to $48.00 today and things will be fine. Spikes LIKE THIS ONE is what destroys traders accounts when they trade LOT SIZES THAT ARE FAR...
large lot size without stop loss...indeed
  • #14,222
  • Dec 18, 2018 12:19pm Dec 18, 2018 12:19pm
Quoting Kimjoun
i waiting 1.35...lets go
3550 might hit before down
PA Return Today: na
  • #14,223
  • Dec 18, 2018 3:06pm Dec 18, 2018 3:06pm
i might be wrong, look like oil building nice flag i think going to around 44. price act similar like yesterday.

friendly advice, careful with the uc short . it should coming down hard but we never knew how high it will go before down. whoever short tis pair since oct should knew better...lol.
  • #14,224
  • Dec 18, 2018 3:20pm Dec 18, 2018 3:20pm
My feeling, I call it like that, made me set the tp to 1.3360/25 as I will not have enough time to close the trades manually.
  • #14,225
  • Dec 18, 2018 3:44pm Dec 18, 2018 3:44pm
Quoting aa4fx
My feeling, I call it like that, made me set the tp to 1.3360/25 as I will not have enough time to close the trades manually.
I also took out winners now @ 1.3460.
  • #14,226
  • Dec 18, 2018 6:06pm Dec 18, 2018 6:06pm
Kimjoun and aa4fx , the GREAT thing about the sudden drop in Oil today is that major industries , furiously buy up the oversupply !!!! Thus , the airline industry for example , worldwide , bought up HUGE amounts of fuel which has the same effect as Saudi Arabia shutting the taps off completely.

I see oil hitting $50/bbl by weeks end.

Regards ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #14,227
  • Dec 19, 2018 12:27pm Dec 19, 2018 12:27pm
Hey GE,

Thank you for the explanation. I've been lurking for about a year and I really like your comments.

I, too, am focusing my trading on USD/CAD for now (and probably forever). Can be frustrating at times, but you gotta go with what you know...

Cheers!

Crafty235
  • #14,228
  • Edited 8:12am Dec 20, 2018 7:35am | Edited 8:12am
I have been involved in Forex for less than a year, so I am wondering what the Holidays are likely to bring...? I imagine most Institutional traders and MM are on Holidays, right...?

I have a few trades that are well set-up but currently in DD...am I better to cut my losses and get out for the next couple of weeks or is there still going to be some movement...?

GreenEarth has spoken of thin liquidity and whipsawing, which we have seen recently...

CAD news on Friday is forecast to be fair, but what will the likely effect be...? If it meets forecast, not much, I imagine...

Thanks for your time.

Cheers!

Crafty235
  • #14,229
  • Dec 20, 2018 7:53am Dec 20, 2018 7:53am
Quoting GreenEarth
Kimjoun and aa4fx , the GREAT thing about the sudden drop in Oil today is that major industries , furiously buy up the oversupply !!!! Thus , the airline industry for example , worldwide , bought up HUGE amounts of fuel which has the same effect as Saudi Arabia shutting the taps off completely. I see oil hitting $50/bbl by weeks end. Regards , GE
I don't think that major industries go crazy for Oil shopping right now, ... is more that they buy at certain levels, a business as usual approach.
  • #14,230
  • Dec 20, 2018 8:13am Dec 20, 2018 8:13am
I recently started to watch Oil, looks like the down move is done, now going to >57 (maybe 42.5 before).
I'll have to look in more details before giving some other crazy numbers that market might take as valid.
  • #14,231
  • Dec 20, 2018 8:41am Dec 20, 2018 8:41am
Quoting Crafty235
I have been involved in Forex for less than a year, so I am wondering what the Holidays are likely to bring...? I imagine most Institutional traders and MM are on Holidays, right...? I have a few trades that are well set-up but currently in DD...am I better to cut my losses and get out for the next couple of weeks or is there still going to be some movement...? GreenEarth has spoken of thin liquidity and whipsawing, which we have seen recently... CAD news on Friday is forecast to be fair, but what will the likely effect be...? If it meets forecast,...
Crafty 235 , ANYTHING CAN HAPPEN IN FOREX AT ANYTIME , ALWAYS !!!! NOBODY KNOWS WITH 100% CERTAINTY what the market will do.
If your position sizes are very very small , then , being in drawdown is not a major issue. TRADING THROUGHOUT ANY HOLIDAY AFFECTS THE LIQUIDITY OF THE MARKET THOUGH , AND BIG BUSINESS TAKES ADVANTAGE OF THIS , PARTICULARLY ANY TRANSPORTATION CARRIERS SUCH AS WALMART , AIRLINE INDUSTRY, etc.
These players NEVER TAKE A HOLIDAY. SOUTHWEST AIRLINES is known for having a team of tremendously astute oil/fuel traders. These people are KEY to any MAJOR COMPANY BEING PROFITABLE or simply staying in Business without building up massive debt.
PRICE ACTION is the key to Forex. Since you are new to Forex , PIPSOLOGY SCHOOL (babypips.com) IS A MUST BEFORE YOU COMMIT TO ANY TRADING , IN MY OPINION.
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #14,232
  • Dec 20, 2018 8:52am Dec 20, 2018 8:52am
Quoting GreenEarth
, ALWAYS !!!! NOBODY KNOWS WITH 100% CERTAINTY what the market will do.
LMAO

thats hilarious..

i just got bashed for helping, and some person the other day said we dont know where the market will go, just like you said re: U/J, i get banned from that thread too (day trading ideas - or something) well, i was right again, TP hit once more. to the point.

guys, listen, stop being retail minded...

price is easy to figure out where its going to go, not trying to be rude or what ever, its dead simple..
i was the same way "no one knows where price will go"... yeah yeah... blah blah..

yes we do, find someone who knows about position trading, Quasimodo patterns, sniper entries, RBSF, SBRF, TRL's, and it will all come together.

Ive given out 5 or so predictions this past week and they have all hit the TPs to the point, and get bashed before the fact happens, then i get banned from the tread because i was right.

WTF lol


I swear this forum needs inexperienced traders here so others lose along with them. Cos each time im correct, i get bashed... go figure.

FML for trying to help you guys...
Advanced Price Action Trader -MY STUFF IS FREE! JOIN ME!
  • #14,233
  • Dec 20, 2018 9:48am Dec 20, 2018 9:48am
Quoting FXCyborg
{quote} LMAO thats hilarious.. i just got bashed for helping, and some person the other day said we dont know where the market will go, just like you said re: U/J, i get banned from that thread too (day trading ideas - or something) well, i was right again, TP hit once more. to the point. guys, listen, stop being retail minded... price is easy to figure out where its going to go, not trying to be rude or what ever, its dead simple.. i was the same way "no one knows where price will go"... yeah yeah... blah blah.. yes we do, find someone who knows...
sir, pls consider open ur own thread, so we can learn from you. share you trading style, signal or thinking. i read some of you post here and there, look like you know what you saying.
  • #14,234
  • Dec 20, 2018 9:54am Dec 20, 2018 9:54am
FXCyborg , since you know what the market is doing could you please inform us all of your strategy.

I would love to know. My success rate on trades is 81.8%. However , if I could get it higher , that would be great. More importantly , you would be doing a wonderful service to our Novice Traders by helping them out , so they would not have to go through what I went through.

I wish that I knew when the exact time is going to be for Russian and Saudi Oil Traders to enter the market and send WTI back to $60.00/bbl.

Please inform us all , I'm sure that I am not the only one who wants to know your strategy.

Warmest Regards ,
GreenEarth
"Define the risk OUT of your trade"--Mark Douglas
  • #14,235
  • Dec 21, 2018 4:31am Dec 21, 2018 4:31am
Ucad just won’t take a break, been trending since 1.27xx............It’s Christmas, they’ve gotta take some profit off........ let’s see what happens with today’s data.........would love to see 1.3600 though.
  • #14,236
  • Dec 21, 2018 4:38am Dec 21, 2018 4:38am
Mamalujo , I totally agree. Lots of data for this pair today. Could be "The Perfect Storm". The last thing the US needs right now is a high dollar. Plenty of traders have lost their entire yearly gains this past week , and then some.
Should be very interesting.
Quite surprised that Oil broke $48.00/bbl.
This pair is approaching multi year highs.

Green Pips ,
GE
"Define the risk OUT of your trade"--Mark Douglas
  • #14,237
  • Dec 21, 2018 6:53am Dec 21, 2018 6:53am
Quoting Kimjoun
i might be wrong, look like oil building nice flag i think going to around 44. price act similar like yesterday. friendly advice, careful with the uc short . it should coming down hard but we never knew how high it will go before down. whoever short tis pair since oct should knew better...lol.
a little bit more 44. i thinking now slip to 42. even cad news is good but oil still slipping down i suggest take ur short profit while u can. unless we can break hard multiple trendline up on h4 d1 and see clear rejection when recover until that happen we can thinking hold short for longer. few weeks ago i mention ucad probably testing 1.35/1.36 someone told me crazy. now look wat happen.

lets hold hand together and pray cad stronger soon.

cheers
  • #14,238
  • Dec 21, 2018 6:58am Dec 21, 2018 6:58am
UC
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.PNG Size: 28 KB
Self discipline It is a practice
  • #14,239
  • Dec 21, 2018 7:37am Dec 21, 2018 7:37am
Quoting okshop
UC {image}
hope it reach there too, put few orders there
PA Return Today: na
  • #14,240
  • Dec 21, 2018 9:33am Dec 21, 2018 9:33am
Ucad rejected twice at 1.3560 , is it ready to let go now? Price now at 1.3522
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