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USD/CAD

  • #81
  • Apr 29, 2010 8:07am Apr 29, 2010 8:07am
My short is closed. I have a pending buy order at .9950 which is near last week's low. There is another trendline on the weekly cutting through the channel and that's where I would like to buy. Sorry I cannot post the updated channel right now.

Quoting BJEJFeeJ
I don't like having trades open before FOMC but oh well. Just trading my charts. This channel has held for over 1 month now. Short at 1.0172.
  • #82
  • Apr 29, 2010 8:10am Apr 29, 2010 8:10am
So did you do it? I'm thinking of longing too but below parity.

Quoting Cotton-I-Jo
Mmmmmmmmmmm

Looks like it can be nice area 4 loading LONG !






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  • #83
  • Apr 29, 2010 7:29pm Apr 29, 2010 7:29pm
at 1.005 now anyone selling ?
Attached Image
  • #84
  • Apr 29, 2010 7:51pm Apr 29, 2010 7:51pm
Leaving this one alone till the GDP figures come out and will probably leave alone for the rest of the week unless it drops towords 0.9930--.09950. If it does, then I will have to load up on the Longs again.
  • #85
  • Apr 29, 2010 7:51pm Apr 29, 2010 7:51pm
Quoting edisoname
at 1.005 now anyone selling ?
No.
  • #86
  • Apr 29, 2010 9:44pm Apr 29, 2010 9:44pm
No not now. There's this upward sloping TL that I don't want to battle with. If it breaks, then I'll go long around .9950. Did anyone else participate in this channel on the 4H? Also here is my weekly chart.

Quoting edisoname
at 1.005 now anyone selling ?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cad channel1.gif Size: 59 KB
Click to Enlarge Name: cad channel2.gif Size: 49 KB
  • #87
  • Edited 9:55am Apr 30, 2010 9:21am | Edited 9:55am
Good time to sell usd/cad now ? At 1.0130
  • #88
  • Apr 30, 2010 10:14am Apr 30, 2010 10:14am
Anywhere near the top of the channel looks like a low risk trade. Man, wish I woulda set a PO up there! Don't have access to my chart right now, but if price nears 0150 again, I think I'll go for it.

Quoting edisoname
Good time to sell usd/cad now ? At 1.0130
  • #89
  • Apr 30, 2010 10:16am Apr 30, 2010 10:16am
do you guys think it will drop below 1.00 next week ? been looing at some signals.
  • #90
  • Apr 30, 2010 10:46am Apr 30, 2010 10:46am
At this point, I can't tell from my charts. The triangle that has formed inside the channel may keep it from getting there. If it breaks the LTL of the triangle then probably. My pending buy is at 9950 but I just may go ahead and delete it for now and see what next week brings. If the signals you're looking at have proven to be reliable, follow them.

(Man, wish I woulda caught that sell at 1.0148...)

Quoting edisoname
do you guys think it will drop below 1.00 next week ? been looing at some signals.
  • #91
  • Apr 30, 2010 10:53am Apr 30, 2010 10:53am
heard rumors sayin that it will reach 0.95** in june
  • #92
  • Apr 30, 2010 11:35am Apr 30, 2010 11:35am
Just made a withdrawal to pay my bills today. It would make my day if it can go all the way up to 1.03
  • #93
  • Edited 12:54pm Apr 30, 2010 12:43pm | Edited 12:54pm
Guys, give some thoughts please, clicked on sell a at 1.0150
stop loss at 1.31
Attached Image
  • #94
  • Apr 30, 2010 2:10pm Apr 30, 2010 2:10pm
Well, I'm kinda leery of selling at this point (although if it's going down this would be a great point to sell). The fact that it hit the UTL of my channel twice this week and it's been creeping up there and hovering right around there for the past few hours before closing makes me think it might be ready to bust out the top - which is why I ended up not doing the exact same trade you're in. If it does, I'll stand aside for a few days to see what happens because I don't trade breakouts very well yet.

At least your stop seems wide enough to make it through a false breakout. If I was in, I would have a much tighter stop which is why I called it a low risk trade a few posts back.

Those are my thoughts. Good luck!

Quoting edisoname
Guys, give some thoughts please, clicked on sell a at 1.0150
stop loss at 1.31
  • #95
  • Apr 30, 2010 2:16pm Apr 30, 2010 2:16pm
Quoting edisoname
Guys, give some thoughts please, clicked on sell a at 1.0150
stop loss at 1.31
Sup playa, I, too am shorting this pair (1.0162). It's come up twice today passed my UTL (1.0165) that I've seen, yet it made lower highs staying under 1.0184. I feel it will go down a little bit, but on the daily chart, it looks like a rounding bottom. I'd close the trade as quick as possible, which is what I intend to do.

Monthly shows a possible hanging man/doji at the bottom of the bearish downtrend.

My plan: Exit asap.
  • #96
  • Apr 30, 2010 2:18pm Apr 30, 2010 2:18pm
Quoting edisoname
Guys, give some thoughts please, clicked on sell a at 1.0150
stop loss at 1.31
Goodie. I think that one is pretty hard to lose!
  • #97
  • Apr 30, 2010 2:39pm Apr 30, 2010 2:39pm
I mean stop at 1.031 not 1.31
  • #98
  • Apr 30, 2010 2:41pm Apr 30, 2010 2:41pm
Quoting edisoname
please dont laugh at me, im just new here, so u suggest put the stop at 1.020 ? thanks
That's where I had my stop, roughly, but it depends on your money management. Exiting is harder than entering sometimes. I saw it just teased you with a move down. I think it's going to range for a little bit -- but I don't know if you'll exit the trade today with a positive pip collection.
  • #99
  • Apr 30, 2010 2:56pm Apr 30, 2010 2:56pm
The pair is heavily influenced by CAD news. Just wait for good CAD news and then go short. How hard can it be??
  • #100
  • Apr 30, 2010 2:57pm Apr 30, 2010 2:57pm
I didn't even notice that. I figured that's what you meant though.

Quoting edisoname
I mean stop at 1.031 not 1.31
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