USD/CAD Trading Room

Now looks good place to long1.1480 SL 1.1435

Closed. I prefer go with long TF
I review my long time Chart we should drop much more
Will keep an eye to sell again.

Guys where are you?
i see very good chance to drop much

i think its time to short big time I<ll have a look at my chart to see if I have any opportunity to short this currency because I think that it;s gonna go down much more in the coming weeks!!!

We are looking at a nice and tight range in Asia so far (the yellow-colored section in the attached .gif). If that holds until/breaks into the 0800GMT London open it could uncoil a lot of energy.

Below that, at roughly 1.3800 the 23.6 Fibo extension of the move down yesterday and the 23.6 Fibo retracement of the long move up between June 10 and July 2 (yesterday) come together. So that should be an interesting level to watch -- if it holds, price could go back up above 1.6600, if it is broken it could fall fast.

My strategy for today is to watch for a breakout from the Asia range; if to the upside aim for 1.6000+, if to the downside watch hourly resistance around 1.1430, ride it to 1.1380 (if it goes) and reenter long on a reversal or establish a new short on a clear break.

Addition: not shown in the graph is that yesterday at 1.1552 USDCAD broke the hourly up-trendline and has not reversed above it. Support at the H4 up-trendline is currently at 1.1285, so there is room to hit the Fibo levels on the way down.

LET<a bring new people to the tread and se if tey can make it so look at your chart carrfully!!!

Come on! I short again 1.1484
Reasons:
1-daily indicator down
2-daily bearish Gartley
3-38.20 Fib
grrrrr mistake to close my sell from 1.1620 should left it but ok. All will be fine

I am short at 1.61. The spike up as far as I can see is only a reaction to the news, and long term trend of being down is still in the cards.

Short at 1.161 also, i'm sure that is what you meant.

oops, yes it was thanks.

OK, I add short after price go up again @1.1610
see you when my TP hit
Good luck All

I took my profit at 1.1574, but will add another short when/if it hits the 1.1618-20 again.




Kim

Today?

Yesterday's trade.

punch this pair up

Put in some swing trades. Went long at 1.10xx, 1.105x, 1.11xx. Some (lots) are green, most are neutral, two are red. Let's see if my prediction of this Canadian economy is correct. If not...I'm riding this out 'til I'm right

Im waiting for 1.1020 to go long with 50 pip stop loss gonna see if i can get 500 pips out of this. should have a very nice up this coming week. The CAD dollar has been gapping up in the futures world (due for a retrace) oil is going down (weakens the CAD). The dow is due for a tumble (strengthens the USD), and the commercial traders are short the cad and long the USD.

That is exactly the reasoning behind my swing trades. Good stuff and good luck.

This pair is just so boring!!! am long from 1.100

Still think it's boring? Dunno about you, but to me there's something fishy about CAD - the runup of the past two weeks is insane.