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USD/CAD

  • #16,521
  • Jul 28, 2021 5:12am Jul 28, 2021 5:12am
going short seems the right thing to do. before fomc or just after?
In tea leaves we trust!
  • #16,522
  • Jul 28, 2021 8:59am Jul 28, 2021 8:59am
Quoting Mcbeaners
going short seems the right thing to do. before fomc or just after?
gone short @ 1.248 ish
In tea leaves we trust!
  • #16,523
  • Jul 28, 2021 11:31am Jul 28, 2021 11:31am
Quoting Mcbeaners
{quote} gone short @ 1.248 ish
that should be 1.258

the short build looks strong - i'm looking for 1.2454 ish
In tea leaves we trust!
  • #16,524
  • Jul 28, 2021 1:47pm Jul 28, 2021 1:47pm
Quoting Mcbeaners
{quote} that should be 1.258 the short build looks strong - i'm looking for 1.2454 ish
no way cad is holding this line. more down coming.
In tea leaves we trust!
  • #16,525
  • Jul 28, 2021 3:28pm Jul 28, 2021 3:28pm
Quoting Mcbeaners
{quote} that should be 1.258 the short build looks strong - i'm looking for 1.2454 ish
moving tp to 2414.
In tea leaves we trust!
  • #16,526
  • Jul 28, 2021 10:00pm Jul 28, 2021 10:00pm
Quoting Mcbeaners
{quote} moving tp to 2414.
moving tp again, now 24181
In tea leaves we trust!
  • #16,527
  • Jul 28, 2021 10:46pm Jul 28, 2021 10:46pm
Quoting Mcbeaners
{quote} moving tp again, now 24181
it could be drop to 1.237xx area before significant bounce happened but today, US GDP data will bring the price up i think so the safest is still buy on weakness.
  • #16,528
  • Edited 2:24am Jul 29, 2021 2:05am | Edited 2:24am
1.246 if it can pass I think 1.240 open then might be 1.23
hit my 1tp 1.247, hope still continue at least not touch my sl back so next tp can hit
Attached Image (click to enlarge)
Click to Enlarge Name: 995155c9900ef4f6a14da9935f679775.png Size: 81 KB
Hope everyone gets green pips
  • #16,529
  • Jul 29, 2021 2:41am Jul 29, 2021 2:41am
Quoting hans91
{quote} it could be drop to 1.237xx area before significant bounce happened but today, US GDP data will bring the price up i think so the safest is still buy on weakness.
short build was about 6k. hefty.

cad was in that price range for 6 days to you should expect the move to be 6 days to complete the tp.

here is an example of how to project price, i am a novice with this but worth a look, price expands (1) the consolidates (2) then continues on to tp (3). the consolidation is the period by which a price was held in check to can be used to project how long it will take to get to the same (AUG 5TH) expand (1) and the tp is 1.22512. btw tp (3) would be the min target

of course a retracement back to the consolidation would be expected. so the chart might need adjustment.

so let's see what happens.
Attached Image (click to enlarge)
Click to Enlarge Name: 2021-07-29_03-27-03.png Size: 122 KB
In tea leaves we trust!
  • #16,530
  • Jul 29, 2021 3:13am Jul 29, 2021 3:13am
looking at the breakout, it already retraced. so chart updated.

now tp is the 50ma on the daily. how convenient.
Attached Image (click to enlarge)
Click to Enlarge Name: 2021-07-29_04-11-50.png Size: 156 KB
In tea leaves we trust!
  • #16,531
  • Jul 29, 2021 3:26am Jul 29, 2021 3:26am
Quoting Mcbeaners
{quote} short build was about 6k. hefty. cad was in that price range for 6 days to you should expect the move to be 6 days to complete the tp. here is an example of how to project price, i am a novice with this but worth a look, price expands (1) the consolidates (2) then continues on to tp (3). the consolidation is the period by which a price was held in check to can be used to project how long it will take to get to the same (AUG 5TH) expand (1) and the tp is 1.22512. btw tp (3) would be the min target of course a retracement back to the consolidation...
i'm happy if price going to 1.22 area, it is good for long..
i have my long term target to 1.29 - 1.3, don't know when it will be happened but looking at monthly chart it tells me to be careful when shorting especially when price reach 1.23 - 1.24 area.
and next, market will decide.
  • #16,532
  • Jul 29, 2021 4:25am Jul 29, 2021 4:25am
Quoting Mcbeaners
going short seems the right thing to do. before fomc or just after?
Sure, when USD is weak, find the strong currency, then you have a pair



Attached Image (click to enlarge)
Click to Enlarge Name: 2021-07-29_19-21-49.jpg Size: 337 KB
It takes a lot for me to IGNORE you, but you can try.
  • #16,533
  • Jul 29, 2021 9:16am Jul 29, 2021 9:16am
Quoting Erebus
{quote} Sure, when USD is weak, find the strong currency, then you have a pair {image}
sounds like a plan!

i perfer orderflow to find me pairs!

more short building on this one. so more down coming. all good.
In tea leaves we trust!
  • #16,534
  • Edited 10:27am Jul 29, 2021 9:52am | Edited 10:27am
Quoting Erebus
{quote} Sure, when USD is weak, find the strong currency, then you have a pair {image}
is it free or not? I use something like that, got from another thread on this FF forum, someone shared it in Free grid Icarus EA thread I thought, your seems more detail automatic pair I saw
Thats way I choose NU & UCAD this morning

Just found also a more sophisticated display but seem I can not read chart with the display, still looking for more simple but more easy to see currency pairs at one page

https://www.forexfactory.com/thread/...ngth-dashboard
Attached Image
Hope everyone gets green pips
  • #16,535
  • Jul 29, 2021 1:26pm Jul 29, 2021 1:26pm
closed my short @ 24345

looks like that's enough for now. will sell any rally from here.
In tea leaves we trust!
  • #16,536
  • Edited 8:43pm Jul 29, 2021 6:49pm | Edited 8:43pm
Quoting anubieonly
1.246 if it can pass I think 1.240 open then might be 1.23 hit my 1tp 1.247, hope still continue at least not touch my sl back so next tp can hit {image}
still hold 2 positions locked sl 50 pips @1.2468, CAD GDP news today hope can bring more pressure to usd

update just checked calendar there is US inflation data, I activated trailing now in case price will go back

I just checked again it is all clear now
Hope everyone gets green pips
  • #16,537
  • Jul 30, 2021 9:54am Jul 30, 2021 9:54am
will cut loss @1.241, tp open, let see next week
Attached Image (click to enlarge)
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Hope everyone gets green pips
  • #16,538
  • Jul 30, 2021 11:01am Jul 30, 2021 11:01am
Quoting anubieonly
will cut loss @1.241, tp open, let see next week {image}
sl on entry point so I can sleep well, still hope on Monday a continuation as US PMI manufacture will release
Hope everyone gets green pips
  • #16,539
  • Aug 2, 2021 10:42am Aug 2, 2021 10:42am
Holding long in Usdcad.
Attached Image (click to enlarge)
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Forex Learner
  • #16,540
  • Edited Aug 3, 2021 9:00am Aug 2, 2021 11:26am | Edited Aug 3, 2021 9:00am
Quoting anubieonly
will cut loss @1.241, tp open, let see next week {image}
sl move to 1.248, tp1 done 1.250 next tp2 1.256

edit: I just moved tp to 1.26 now, seems uptrend is getting stronger, but I can be wrong too, and I increased sl to 1.249
UCAD just broken up a resistant TL on H4 it will be RBS support now

edit again = set sl now to 1.254 and tp move to 1.266, uptrend more stronger now
Attached Image (click to enlarge)
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Hope everyone gets green pips
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