Attachments: USD/CAD

USD/CAD

#15,401
Oct 30, 2019 10:45am Oct 30, 2019 10:45am

Beyfor
| Commercial User | Joined Dec 2012 | 821 Posts

Quoting Beyfor

Disliked

{image}

Ignored

UPDATE

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#15,402
Oct 30, 2019 11:10am Oct 30, 2019 11:10am

aariapoor
Joined Jun 2016 | Status: Forexian | 316 Posts

After buying and waiting for a week in consolidation, it closed me before taking off
My mistake was using a trailing stop

https://t.me/fxean/981
https://www.tradingview.com/chart/USDCAD/bFEe0TFv/

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We can't control the sea, but we can learn how to surf the waves.

#15,403
Oct 30, 2019 12:48pm Oct 30, 2019 12:48pm

Rajni1
| Joined Jul 2018 | Status: Trader | 33 Posts

Quoting Rajni1

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{quote} Amazingly all are long on usdcad. Im looking for 3210 and 3317

Ignored

closed all longs in profit. waiting for correction to ride it again.

#15,404
Edited 3:06pm Oct 30, 2019 2:54pm | Edited 3:06pm

Unbiased
| Commercial User | Joined Sep 2019 | 249 Posts

Bread & Butter sell in USD/CAD

Fundamentals: USDCAD retraced up by dint of dovish BOC statement today (BOC may cut Overnight Rate in Jan).

Then Fed rate cut of 25bp was announced later today.

But at present, the fact is rate cut by Fed and no rate cut by BOC and dovish BOC has already been priced in. Therefore, recent dovish FOMC press conference will push USD/CAD down again a little bit and it can reach 1.3105 (± 3.0) pips that is FIB61.8 of whole move up since yesterday.

Technical analysis: A downward thrust that makes a ground of bread and butter, was formed with all candle closed below 3x3 SMA (blue line). The idea of bread and butter is market will restart going in direction of thrust after retracement, then it can go to 61.8% of retracement or even can continue further. Retracement started from ABC->61.8 expansion level yesterday and continued today by dint of dovish BOC.

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#15,405
Oct 30, 2019 6:24pm Oct 30, 2019 6:24pm

Musafiribu
| Joined Jul 2017 | Status: Success always choose a loser .Ø | 11 Posts

Quoting shahab8b

Disliked

{quote} Those buy orders will get you a margin call someday. You kept buying on a downtrend and lucky to see a favorable move before your account blows up. I understand it is a demo account based on your lot size. But trust me, you wont be profitable in long term with that kind of trading.

Ignored

U r correct..it’s look like just gambling..n the gambling future is very very dark..it’s a super truth..!!

#15,406
Oct 30, 2019 10:11pm Oct 30, 2019 10:11pm

shahab8b
Joined Jul 2009 | Status: The Alchemist | 8,917 Posts

USDCAD

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#15,407
Oct 31, 2019 6:31am Oct 31, 2019 6:31am

Ziko9o8
Joined Mar 2011 | Status: Trader | 1,528 Posts

Quoting shahab8b

Disliked

{quote} Those buy orders will get you a margin call someday. You kept buying on a downtrend and lucky to see a favorable move before your account blows up. I understand it is a demo account based on your lot size. But trust me, you wont be profitable in long term with that kind of trading.

Ignored

- If you neglect all what you learnt about Technical analysis and just merely looked at UC chart:-

a) The period from Oct-24 to Oct-29 nothing broke through 1.3050 so it was known a head of time(before BOC decision) that to buy the $ & sell C$

b) In Oct-29 at the American session, this trade unfolded before everyone' eyes (is to buy UC) and that's what happened in Oct-30

- So, yeah it was priced in decision.

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#15,408
Oct 31, 2019 7:24am Oct 31, 2019 7:24am

Unbiased
| Commercial User | Joined Sep 2019 | 249 Posts

Quoting Unbiased

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Bread & Butter sell in USD/CAD Fundamentals: USDCAD retraced up by dint of dovish BOC statement today (BOC may cut Overnight Rate in Jan). Then Fed rate cut of 25bp was announced later today. But at present, the fact is rate cut by Fed and no rate cut by BOC and dovish BOC has already been priced in. Therefore, recent dovish FOMC press conference will push USD/CAD down again a little bit and it can reach 1.3105 (± 3.0) pips that is FIB61.8 of whole move up since yesterday. Technical analysis: A downward thrust that makes a ground of bread and butter,...

Ignored

Action ahead of Canada's GDP m/m: Trades are already running with +10.0 pips, we can set SL either at entry price or at 10.0 pips above ask price right before release of Canada's GDP m/m.

#15,409
Oct 31, 2019 7:44am Oct 31, 2019 7:44am

Unbiased
| Commercial User | Joined Sep 2019 | 249 Posts

Quoting Unbiased

Disliked

Bread & Butter sell in USD/CAD Fundamentals: USDCAD retraced up by dint of dovish BOC statement today (BOC may cut Overnight Rate in Jan). Then Fed rate cut of 25bp was announced later today. But at present, the fact is rate cut by Fed and no rate cut by BOC and dovish BOC has already been priced in. Therefore, recent dovish FOMC press conference will push USD/CAD down again a little bit and it can reach 1.3105 (± 3.0) pips that is FIB61.8 of whole move up since yesterday. Technical analysis: A downward thrust that makes a ground of bread and butter,...

Ignored

Continuing with this analysis.

#15,410
Oct 31, 2019 7:44am Oct 31, 2019 7:44am

Unbiased
| Commercial User | Joined Sep 2019 | 249 Posts

Quoting Unbiased

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{quote} Action ahead of Canada's GDP m/m: Trades are already running with +10.0 pips, we can set SL either at entry price or at 10.0 pips above ask price right before release of Canada's GDP m/m.

Ignored

Stopped out because Canada's GDP m/m. came out to be 0.1% vs forecast 0.2%. Nevertheless, previous actual was 0.0% and this release is still greater. USD/CAD erased little bull move cause by this data in 7 minutes, so we re-entered sell to continue with the trade plan with SL and TP as per the analysis.

#15,411
Oct 31, 2019 8:59am Oct 31, 2019 8:59am

pridolfx
| Joined Feb 2018 | Status: Trader | 1,276 Posts

Quoting Unbiased

Disliked

{quote} Stopped out because Canada's GDP m/m. came out to be 0.1% vs forecast 0.2%. Nevertheless, previous actual was 0.0% and this release is still greater. USD/CAD erased little bull move cause by this data in 7 minutes, so we re-entered sell to continue with the trade plan with SL and TP as per the analysis.

Ignored

worse pair to trade fuck it,,,usd/cad

#15,412
Nov 1, 2019 8:56am Nov 1, 2019 8:56am

Unbiased
| Commercial User | Joined Sep 2019 | 249 Posts

Quoting pridolfx

Disliked

{quote} worse pair to trade fuck it,,,usd/cad

Ignored

Not worse pair. A pair is not bad or good, you just have to look at many currencies and choose to buy better/best against worse/worst.
I had lost just 10 pips and it was a precautionary action prior to release of Canada's GDP m/m but then I re-entered sell to continue with my analysis.

I am still continuing with that sell trade, ignoring NFP.
To understand why I am continuing with sell of USD/CAD, read fundamental of USD after NFP in Fundamental part of this post.

#15,413
Nov 1, 2019 11:24am Nov 1, 2019 11:24am

olegchartist
Joined Sep 2019 | Status: Trader | 230 Posts

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4h chart shows the downward wave-channel. We can detect 2 attempts to break out above the top wave-line of the downward channel. Both attempts have no great success as price is still trading around the line. This behavior suggests, bears are controlling the zone around top-line. In this case, the movement toward the centerline becomes more real. So, the idea of decline has a priority.

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Let's analyze clusters from the futures market. Note, 6C is the reversed version of USDCAD.
We have there:
1) Selling pressure wave (notice big red delta bars)
2) Erase of bearish progress on the previous down-wave 1.
If futures were really weak, it would resume downward movement (bullish move on USDCAD).

Follow my thread

Oleg Alexandrov, market analyst. Find me in Google

#15,414
Nov 1, 2019 5:21pm Nov 1, 2019 5:21pm

Yuya
Joined Oct 2019 | Status: Trader | 37 Posts

Looking at the daily rate, it has rebounded at the 1.305 support line.
The upside is assumed to be 1.3242.
Looking at the four-hour bar, I still feel the rebound is suspicious.
Put the assumption of price movement once.

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Ninja trader Return This Year: na

#15,415
Nov 2, 2019 4:54pm Nov 2, 2019 4:54pm

Kenobi
| Commercial User | Joined Oct 2019 | 161 Posts

Here is how I am trading the USD/CAD in the week ahead,

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#15,416
Nov 3, 2019 9:08am Nov 3, 2019 9:08am

Ayax.TSS
Joined Apr 2019 | Status: Trader | 3,132 Posts

#USDCAD / H4

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#15,417
Nov 5, 2019 3:52am Nov 5, 2019 3:52am

FXTradings
| Commercial User | Joined Jul 2019 | 108 Posts

i think USDCAD have some potenzial to go up at around 1.3110 area, because we have there a trendline support. I would take a smaller long trade there for 20-30 pips, but it also looks like have potenzial to go up over last week high.

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