Attachments: EURCAD

EURCAD

#1
First Post: Jun 27, 2007 9:38am Jun 27, 2007 9:38am

deepleo
| Joined Apr 2007 | Status: Trader | 190 Posts

Is anyone trading or waiting to enter EURCAD?

I'm waiting to go LONG once the price 'closes' above 1.4439, please share your thoughts/suggestions.

Thx
DL

#2
Jun 27, 2007 2:12pm Jun 27, 2007 2:12pm

deepleo
| Joined Apr 2007 | Status: Trader | 190 Posts

Is everybody banned or walked-out off EURCAD?

#3
Jun 27, 2007 3:36pm Jun 27, 2007 3:36pm

StockKJay
| Joined Jul 2006 | Status: useless, brainless, stalking troll | 738 Posts

I setup a long EUR/CAD on the 21st at 1.4368. As of this moment, I am in a buy and hold mindset. Although I am willing to be drawn down roughly 100 pips (would be about the time I get my exit signal), I do have my SL at 1.4323 for the time being.

August '05 had a very similar bounce after sustained slide as is occuring now. I personally hate referencing the past as it is, at least in my opinion, a poor indicator of future action. Although, it is something worth looking at. Until further bullish momentum is seen ... I am just slightly confident on my long hold.

I will not go short EUR/CAD. If shorting is needed I wll short USD/CAD or re establish positions in long CAD/JPY.

The market is my nation. Traders, my family. Hello, brothers and sisters!

#4
Jun 27, 2007 6:23pm Jun 27, 2007 6:23pm

deepleo
| Joined Apr 2007 | Status: Trader | 190 Posts

Quoting StockKJay

Disliked

I will not go short EUR/CAD. If shorting is needed I wll short USD/CAD or re establish positions in long CAD/JPY.

Ignored

I agree with you on not going short on this pair and I'm waiting to go long between 1.4425 - 40.

#5
Jun 27, 2007 6:29pm Jun 27, 2007 6:29pm

1000USD
| Joined Jun 2007 | Status: Trader | 162 Posts

I think it is so dangeroos at this time... just wait and see what happen...

byebye costly moments.

#6
Jun 30, 2007 11:39am Jun 30, 2007 11:39am

deepleo
| Joined Apr 2007 | Status: Trader | 190 Posts

Wow..in 1H it went down by 106 pips and shot up again by 136 pips..242 pip spike..wonder what caused this..went long at 1.4346.

#7
Edited 1:03pm Jun 30, 2007 12:59pm | Edited 1:03pm

LEXngton
| Joined Nov 2006 | Status: Trader | 194 Posts

The jump up was caused by the Canadian GDP which came out -0.2 worse than expected at 8:30am Friday 29th... Not sure what caused the spike down before the GDP came out though...

#8
Jun 30, 2007 1:34pm Jun 30, 2007 1:34pm

deepleo
| Joined Apr 2007 | Status: Trader | 190 Posts

Quoting LEXngton

Disliked

The jump up was caused by the Canadian GDP which came out -0.2 worse than expected at 8:30am Friday 29th... Not sure what caused the spike down before the GDP came out though...

Ignored

But it went down to 1.4145 at Jun 29, 2007 6:02 AM EST and came up again to 1.4245 at Jun 29, 2007 7:05 AM EST, the spike happened before the news at 8:30 !!!

#9
Jun 30, 2007 1:34pm Jun 30, 2007 1:34pm

StockKJay
| Joined Jul 2006 | Status: useless, brainless, stalking troll | 738 Posts

Quoting StockKJay

Disliked

I setup a long EUR/CAD on the 21st at 1.4368. As of this moment, I am in a buy and hold mindset. Although I am willing to be drawn down roughly 100 pips (would be about the time I get my exit signal), I do have my SL at 1.4323 for the time being.

August '05 had a very similar bounce after sustained slide as is occuring now. I personally hate referencing the past as it is, at least in my opinion, a poor indicator of future action. Although, it is something worth looking at. Until further bullish momentum is seen ... I am just slightly confident on my long hold.

I will not go short EUR/CAD. If shorting is needed I wll short USD/CAD or re establish positions in long CAD/JPY.

Ignored

I feel I should follow up to this. I did lose about 50 pips on this position and I ended up re establishing a long after all the shakeup. Dont you just hate the whips? I will add to the long as time goes on .. or I will lose on another position because of another move down.

The market is my nation. Traders, my family. Hello, brothers and sisters!

#10
Jun 30, 2007 1:35pm Jun 30, 2007 1:35pm

WTB
| Commercial User | Joined Sep 2005 | 1,118 Posts

Quoting LEXngton

Disliked

The jump up was caused by the Canadian GDP which came out -0.2 worse than expected at 8:30am Friday 29th... Not sure what caused the spike down before the GDP came out though...

Ignored

That spike down had me shat on my pants. I was positioned short in my live account on EURCAD at that precise time when I saw price dive for 70 pips, hitting my price target (+61 pips on that trade) and bouncing 50 pips back IMMEDIATELY after. All that happened within a 5 minutes bar.

After that, I sat back and pondered: "WTF just happened there?!?!"

#11
Jun 30, 2007 1:37pm Jun 30, 2007 1:37pm

deepleo
| Joined Apr 2007 | Status: Trader | 190 Posts

Yeah, actually I had an alert at 1.4145 for a LONG entry and I usually wait for the candle to close before entering the trade and it came up to 1.4245 within 1 hour, so I was shocked to see the spike I didn't dare to enter.

#12
Jun 30, 2007 2:38pm Jun 30, 2007 2:38pm

willf
| Joined May 2006 | Status: Yipppppppeeeeee ! | 847 Posts

I was short this pair with 2 lots at 1.4239 with a TP of 1.4139 on the first lot. The second lot going to be left to run.

First TP was hit but never had the chance to move the second lot to BE. Consequently it was stopped out at 1.4313. Overall 26 pips profit.

#13
Jul 1, 2007 7:05am Jul 1, 2007 7:05am

deepleo
| Joined Apr 2007 | Status: Trader | 190 Posts

Quoting willf

Disliked

I was short this pair with 2 lots at 1.4239 with a TP of 1.4139 on the first lot. The second lot going to be left to run.

First TP was hit but never had the chance to move the second lot to BE. Consequently it was stopped out at 1.4313. Overall 26 pips profit.
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Ignored

Hmm..sorry that you lost good chunk of your profit but good that you ended up in profit than losing. I like your signature.