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USD/CAD

  • #14,621
  • Mar 15, 2019 1:27am Mar 15, 2019 1:27am
Quoting PayTheLimit
{quote} indeed, but no pullback, strong sucker this week....
traded this thing like a rube this week....
Look Sharp/Trade Tight
  • #14,622
  • Mar 15, 2019 9:21am Mar 15, 2019 9:21am
Target hit. Fed news next week is the next big market mover.
Probably see price test support to start next week. Cheers!
Attached Image (click to enlarge)
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Yeoman the "Tough Luck" Trader =p
  • #14,623
  • Mar 15, 2019 11:11am Mar 15, 2019 11:11am
Quoting Yeoman
Target hit. Fed news next week is the next big market mover. Probably see price test support to start next week. Cheers! {image}
Is your support at around 1.3340?

Are you looking to short it next week or go long?
Carpe Diem
  • #14,624
  • Mar 15, 2019 1:33pm Mar 15, 2019 1:33pm
I see support at the daily/weekly 20ma. If price moves back over 3360 today I'll short it back to that level. Probably start buying from there again.
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Yeoman the "Tough Luck" Trader =p
  • #14,625
  • Mar 16, 2019 3:56am Mar 16, 2019 3:56am
USDCAD remains in the downtrend from 1.3467, as long as the price is below the trend line, the bounce from 1.3286 could be treated as consolidation for the downtrend. Further decline could be expected in a couple of days and next target would be at 1.3250 area. Only a break of the trend line resistance could signal completion of the downtrend.
  • #14,626
  • Mar 19, 2019 6:09am Mar 19, 2019 6:09am
I've been in this pair since last week long. Its been in a rangebound as the market is on hold waiting for the FOMC statement. As far as I'm concerned the technical analysis looks strong and the forecast for Fed's decision is it will likely hold rates steady in March. So, I'm expecting a good rally to the upside in the long run.
  • #14,627
  • Mar 19, 2019 6:21am Mar 19, 2019 6:21am
Expecting 1.323xx and fore-seeing further downside
Markets are Irrational
  • #14,628
  • Mar 19, 2019 8:36am Mar 19, 2019 8:36am
Quoting danpadcas
I've been in this pair since last week long. Its been in a rangebound as the market is on hold waiting for the FOMC statement. As far as I'm concerned the technical analysis looks strong and the forecast for Fed's decision is it will likely hold rates steady in March. So, I'm expecting a good rally to the upside in the long run.

very true. Especially with the reason rally downside.
Carpe Diem
  • #14,629
  • Mar 19, 2019 8:36am Mar 19, 2019 8:36am
Quoting Mecca2019
USDCAD remains in the downtrend from 1.3467, as long as the price is below the trend line, the bounce from 1.3286 could be treated as consolidation for the downtrend. Further decline could be expected in a couple of days and next target would be at 1.3250 area. Only a break of the trend line resistance could signal completion of the downtrend.

A lot of experts were saying it will go up and many were saying it will go down. Good thing I held my short positions albeit had to exit earlier ones due to the risk.
Carpe Diem
  • #14,630
  • Mar 19, 2019 10:01am Mar 19, 2019 10:01am
Quoting CKSCswing
{quote} very true. Especially with the reason rally downside.
A bit opportunistic
  • #14,631
  • Mar 19, 2019 10:19am Mar 19, 2019 10:19am
Quoting Yeoman
{quote} Looks like it with more weak numbers for the dollar. I'm also targeting 33 which is the weekly 20ma. Considering starting to build a long position from there down to the long-term support. Cheers. {image}
So a week later this is where I'm at with it. Order was triggered at 3290 and I will continue to add to the position as it dips toward support. The FED will maintain the rate tomorrow most likely and continue to beat the drum for hikes later this year. So I see overall bullish sentiment on a bullish weekly chart. Cheers
Attached Image (click to enlarge)
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Yeoman the "Tough Luck" Trader =p
  • #14,632
  • Mar 19, 2019 1:00pm Mar 19, 2019 1:00pm
Quoting danpadcas
{quote} A bit opportunistic
True but trades these days are based alot on speculation. I can attest how many sites and experts said the dollar would rally up and only up and then loo, it went down.

Now I feel we had hit some hard supports and had a reversal and the time to rally up is at hand starting over night (I am EST) and into Wednesday.
Carpe Diem
  • #14,633
  • Mar 19, 2019 1:20pm Mar 19, 2019 1:20pm
Quoting CKSCswing
{quote} True but trades these days are based alot on speculation. I can attest how many sites and experts said the dollar would rally up and only up and then loo, it went down. Now I feel we had hit some hard supports and had a reversal and the time to rally up is at hand starting over night (I am EST) and into Wednesday.
Well, what it happened was pure stop hunting, market players wanted to make money badly. However now I agree with you we will see market move back up
  • #14,634
  • Mar 19, 2019 2:22pm Mar 19, 2019 2:22pm
Quoting danpadcas
{quote} Well, what it happened was pure stop hunting, market players wanted to make money badly. However now I agree with you we will see market move back up
Yes, whether it be stop hunting or counter trading; the effect is still the same.

I had bad positions and exited with a loss today but I feel my loss would be greater if I kept thinking my trades would go through.
Carpe Diem
  • #14,635
  • Mar 19, 2019 2:44pm Mar 19, 2019 2:44pm
Life is better lived as a hunter
Yeoman the "Tough Luck" Trader =p
  • #14,636
  • Mar 20, 2019 9:37am Mar 20, 2019 9:37am
Seeing this as short until todays evening. I expect fall on this pair close to 1.3200, crude oil inventories are very low, so CAD should be strenghtening and FOMC dovish statement would help it reach lower levels. After this, i am going long for next couple of weeks.
-._.-
  • #14,637
  • Mar 20, 2019 10:04am Mar 20, 2019 10:04am
Darn these day job distractions! Missed a good add to it pull back.
I had moved my tp to 3370 but now decided to take the bird in hand ahead of the news. I'll continue long on any pull backs. My alarm is set so I'm sure not to miss the fun. Cheers
Attached Image (click to enlarge)
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Yeoman the "Tough Luck" Trader =p
  • #14,638
  • Mar 20, 2019 1:47pm Mar 20, 2019 1:47pm
Quoting darshanaint
Fed's Dot plot Sees no Rate Hikes in This Year
quote from Davits' Pivot Trading thread

That was unexpected. But good for bullish reentry. I'll continue to add as/if it continues to drop. Cheers
Attached Image (click to enlarge)
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Yeoman the "Tough Luck" Trader =p
  • #14,639
  • Mar 21, 2019 5:52am Mar 21, 2019 5:52am
Attached Image (click to enlarge)
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Gone to a better place
  • #14,640
  • Mar 21, 2019 7:38am Mar 21, 2019 7:38am
Took profit at 3340. Still bullish on the dips. Cheers
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Yeoman the "Tough Luck" Trader =p
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