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The Swamp

  • #73,501
  • Aug 13, 2020 8:18am Aug 13, 2020 8:18am
Already pulled a good 60 pips from GU. No need to fight with EU madness. Long USDCAD instead. See if I can hit 3275 daily pivot area.
  • #73,502
  • Aug 13, 2020 8:27am Aug 13, 2020 8:27am
Quoting FXSerenity
{quote} Let's have a really deep retrace because I've just added to shorts
Good luck bro, Im not adding any shorts until it reaches at least 1.19, which I don't think it will reach today. I'm gonna take off some longs at 1870, while let some to run to 1.19.
  • #73,503
  • Aug 13, 2020 8:38am Aug 13, 2020 8:38am
Quoting Mitiblotch
Already pulled a good 60 pips from GU. No need to fight with EU madness. Long USDCAD instead. See if I can hit 3275 daily pivot area.

Watching this one with interest. If it wasn't for the top wick on the third candle, UC would have printed three black crows on the daily. It's broken lows back to 24th Feb, pre covid.
  • #73,504
  • Aug 13, 2020 8:55am Aug 13, 2020 8:55am
What's going on fundamentally with the Canadian? Watching for retrace to short Head and Shoulder broken on 4H TF AC. Have a pending short 95.20
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  • #73,505
  • Aug 13, 2020 8:58am Aug 13, 2020 8:58am
Quoting Blackopal
What's going on fundamentally with the Canadian? Watching for retrace to short Head and Shoulder broken on 4H TF AC. Have a pending short 95.20 {image}
cad is an oil proxy.
unless you're good with oil fundamentals, you won't understand cad fundamentals very well.
  • #73,506
  • Aug 13, 2020 9:08am Aug 13, 2020 9:08am
Quoting Mitiblotch
Already pulled a good 60 pips from GU. No need to fight with EU madness. Long USDCAD instead. See if I can hit 3275 daily pivot area.
Out with minus 23 pips. I don't like It.
  • #73,507
  • Aug 13, 2020 9:10am Aug 13, 2020 9:10am
Quoting thelws
{quote} cad is an oil proxy. unless you're good with oil fundamentals, you won't understand cad fundamentals very well.
Yes, aware of that, and oil is all over the place, up an and down. Presumably it's in favor again because of recovering economies and expectations of more oil usage. Just wondering if anyone has heard anything in particular, it's powering.
  • #73,508
  • Aug 13, 2020 9:11am Aug 13, 2020 9:11am
Pending short NU 65.9
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  • #73,509
  • Aug 13, 2020 9:18am Aug 13, 2020 9:18am
Quoting Blackopal
{quote} Yes, aware of that, and oil is all over the place, up an and down. Presumably it's in favor again because of recovering economies and expectations of more oil usage. Just wondering if anyone has heard anything in particular, it's powering.
quite the contrary. oil consumption is not increasing.
oil price going up is due to production decrease.

also in forex, there's 2 parts. the usd is also weakening. and usd weakening is a real fundamental thing right now. If you're long dollar, you will have a hard time.
  • #73,510
  • Aug 13, 2020 9:22am Aug 13, 2020 9:22am
A day when not even London touched the daily pivot on EU can be quite devastating for bears. Maybe 1880 next point.
  • #73,511
  • Aug 13, 2020 9:30am Aug 13, 2020 9:30am
I'm still half expecting the DAX to fight for the 94 level. There's been a lot of speculation that this is the level to beat for a turn around in the $USD. I expected a bigger battle there, the bulls have only put in a weak effort there so far, didn't even touch it.
Attached Image (click to enlarge)
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  • #73,512
  • Aug 13, 2020 9:33am Aug 13, 2020 9:33am
Quoting Blackopal
I'm still half expecting the DAX to fight for the 94 level. There's been a lot of speculation that this is the level to beat for a turn around in the $USD. I expected a bigger battle there, the bulls have only put in a weak effort there so far, didn't even touch it. {image}
I believe you mean DXY, not DAX.
  • #73,513
  • Edited 9:56am Aug 13, 2020 9:34am | Edited 9:56am
Quoting Mitiblotch
A day when not even London touched the daily pivot on EU can be quite devastating for bears. Maybe 1880 next point.
True enough but up until now it hasn't really moved up that much in Europe, London and NY - range of day (since European open) is still fairly light at approx 50 pips
  • #73,514
  • Aug 13, 2020 9:35am Aug 13, 2020 9:35am
Quoting Blackopal
I'm still half expecting the DAX to fight for the 94 level. There's been a lot of speculation that this is the level to beat for a turn around in the $USD. I expected a bigger battle there, the bulls have only put in a weak effort there so far, didn't even touch it. {image}
Fundamentally USD should be weak. It will stay weak until vaccine is out, or stronger leadership in US.
Right now the virus is wrecking the economy. Until it goes away or gets under control, economy in US will remain weak.

Alos the fed is printing insane amounts, And funds are moving out of US into europe or asia where things are already starting to see a rebound in economic activity.
  • #73,515
  • Aug 13, 2020 9:35am Aug 13, 2020 9:35am
Of course now I've written this watch it fly
  • #73,516
  • Aug 13, 2020 9:36am Aug 13, 2020 9:36am
Quoting Anubisval
{quote} Out here. try to reload again below 1832 {image}
Seems today si my day )

Out again at 1860, reload longs at 1840-1842.
  • #73,517
  • Aug 13, 2020 9:43am Aug 13, 2020 9:43am
Quoting Anubisval
{quote} Seems today si my day ) Out again at 1860, reload longs at 1840-1842.
in agian
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  • #73,518
  • Edited 10:03am Aug 13, 2020 9:46am | Edited 10:03am
1833.6 is the 1h support.
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those who can, do. those who cant, talk about those who can
  • #73,519
  • Aug 13, 2020 9:51am Aug 13, 2020 9:51am
Quoting Mitiblotch
Already pulled a good 60 pips from GU. No need to fight with EU madness. Long USDCAD instead. See if I can hit 3275 daily pivot area.
between 3200/3170 is a short-term buying zone for me

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  • #73,520
  • Aug 13, 2020 10:00am Aug 13, 2020 10:00am
Quoting gatorinla
1833.6 is the 1h support. {image}
bulls need to hold 1836.6 + on close to retest 1849.. yes just 13 pips apart. bulls need to close above 1849 or retest 1836. I got all as bullish, but if 1h is below 1836. 1800 is the 1h/4h below.. 15 min in purple.
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those who can, do. those who cant, talk about those who can
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