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USD/CAD

  • #16,921
  • Aug 31, 2022 9:25am Aug 31, 2022 9:25am
Quoting Expo33
Have been waiting patiently to sell UCAD. Congruent fractal lines confluent with a relevant monthly candle close. (horizontal maroon line) EA set to sell 3 pips before price hits spring green line. SL = 20 TP = 48 EA will move TP to BE if the trade goes 16 pips in our favor. Bedtime here (west coast US worst possible time zone to live in for forex trading) Hopefully wake up as a hero {image}
Finally triggered after waiting for a week. It takes much more momentum for price to reach a fractal line that is moving away from price. Always gives a better chance of success. At the very least a better chance to be able to micromanage a trade that initially goes in your favor.

Looking for 3 to 1 here. Risking 36 pips for 108
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.tffH4TFF.png Size: 53 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #16,922
  • Aug 31, 2022 10:17am Aug 31, 2022 10:17am
Quoting Expo33
{quote} Finally triggered after waiting for a week. It takes much more momentum for price to reach a fractal line that is moving away from price. Always gives a better chance of success. At the very least a better chance to be able to micromanage a trade that initially goes in your favor. Looking for 3 to 1 here. Risking 36 pips for 108 {image}
Instant gratification. 40 pips green, SL moved to BE +2.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.tffH4TFF.png Size: 53 KB
Pride always comes before destruction.... -Proverbs 16:18
  • #16,923
  • Sep 1, 2022 11:26am Sep 1, 2022 11:26am
Quoting Expo33
{quote} Instant gratification. 40 pips green, SL moved to BE +2. {image}
I think with inflation and housing in Canada the economy is doomed. The CDN is now failing as it should.

I personally love it that there are some who think it will have some strength. It will make it rip higher.
  • #16,924
  • Sep 1, 2022 11:39am Sep 1, 2022 11:39am
Quoting enarco
{quote} I think with inflation and housing in Canada the economy is doomed. The CDN is now failing as it should. I personally love it that there are some who think it will have some strength. It will make it rip higher.
I think in the era of printing free money every economy is doomed to the boom-bust cycle.

As far as forex goes, if US equities are falling the UCAD will be rising regardless of the fundamentals. The bottom line is Canada only does well if the US economy does well as we are a major importer of Canadian goods, particularly energy.

PS. My father's side immigrated to Canada from Italy in the early 1900's. My grandfather is 101, and has lived in the same house about 3 minutes from Niagara falls for 80 years, and has been cursing the Canadian government for just as long
Pride always comes before destruction.... -Proverbs 16:18
  • #16,925
  • Sep 1, 2022 12:40pm Sep 1, 2022 12:40pm
USDCAD shows downward trend in the short term. I would open in the sell. But not today. Most likely tomorrow, if the market does not change the trend.
  • #16,926
  • Sep 2, 2022 3:47am Sep 2, 2022 3:47am
I am bearish, good luck to us all.
Risk Management is of utmost importance!
  • #16,927
  • Sep 2, 2022 10:16am Sep 2, 2022 10:16am
appears to be quite the grind for longs but the CDN dollar long terms is not looking good. Not sure why its taking so long for people to see that housing is going to be a crisis as in collapse in prices.

But anyway it plods along in these waves. On the way upwards for UCAD.
  • #16,928
  • Sep 7, 2022 10:54am Sep 7, 2022 10:54am
USDCAD was increased that time But now it is falling. My analysis is that USDCAD will fall up to the level of 1.30680.
So now I open sell order on 1.31687. Let's see what I'll get.
  • #16,929
  • Sep 13, 2022 9:21am Sep 13, 2022 9:21am
USDCAD is mooving on asdending channel right now. But if he break through the resistance level of 1.29730, then it may mean a reversal and the descending movement.
  • #16,930
  • Sep 16, 2022 10:22am Sep 16, 2022 10:22am
Ahead is a nice resistance level 1.3333 (50% Fibonacci). If they break through, they will rise to 1.3450 (61.8%).
  • #16,931
  • Sep 21, 2022 11:19am Sep 21, 2022 11:19am
The CAD in my view is overextended. It has moved 300 pips in a week.
I would expect some level of pullback after FOMC later today, and a retest to 1.32 next week.

Cheers,
Cat
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4+20220921+C1a.png Size: 8 KB
  • #16,932
  • Sep 21, 2022 11:27am Sep 21, 2022 11:27am
Quoting cchin
The CAD in my view is overextended. It has moved 300 pips in a week. I would expect some level of pullback after FOMC later today, and a retest to 1.32 next week. Cheers, Cat {image}
Totally agree with you Cat. UC has been highly correlated with oil. Recession comes, oil falls.

I shorted the pair yesterday (too early) at 1.3350 - so I'm underwater now - but I'm confident in a re-tracement.
...because you never know - until you do!
  • #16,933
  • Sep 21, 2022 12:39pm Sep 21, 2022 12:39pm
USDCAD has ascending movement. Even this little falls don't make it descending. The bull is mooving.
  • #16,934
  • Sep 22, 2022 10:45am Sep 22, 2022 10:45am
I closed one long trade and let the other run.

Yes, the USD/CAD pair does have a negative correlation to oil prices. At this time, I use this pair to hedge against my other trades. It may pop a little higher before it goes down a bit.

Best,
Cat
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4+20220922+C1.png Size: 7 KB
  • #16,935
  • Sep 22, 2022 12:03pm Sep 22, 2022 12:03pm
Quoting ForexGoose
{quote} my targets are on the chart {image}
it finally reached 1.35, but sadly without me
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_2022-09-22_13-03-00.png Size: 33 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #16,936
  • Sep 22, 2022 1:20pm Sep 22, 2022 1:20pm
Quoting ForexGoose
{quote} it finally reached 1.35, but sadly without me {image}
i just went long on a potential bullish j hook pattern .
  • #16,937
  • Sep 23, 2022 7:14am Sep 23, 2022 7:14am
weekly close above 1.35 could extend the bull trend even higher

multi month target could be 1.45 if the dollar gains even more strength
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_2022-09-23_08-12-56.png Size: 38 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #16,938
  • Sep 25, 2022 4:16pm Sep 25, 2022 4:16pm
Canada is under some pressure. Weather hitting the eastern providences Oil looking to drop father.
When the dollar tops the CAD will be quick to rebound.
May the PIP's be with you.
  • #16,939
  • Sep 26, 2022 7:21am Sep 26, 2022 7:21am
Wow. Impressive movement on USDCAD. It has now ascending movement. So it's time to open buy position.
  • #16,940
  • Sep 26, 2022 7:31am Sep 26, 2022 7:31am
Quoting AndAnd
Wow. Impressive movement on USDCAD. It has now ascending movement. So it's time to open buy position.
I would be careful buying CAD at these prices
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