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USD/CAD Trading Room

  • #361
  • Dec 28, 2010 5:30pm Dec 28, 2010 5:30pm
Quoting Cdawg
I'm with you, Sell limit picked up at 0.9985.. looking to .0240 first and then see if .0360 is on the table.

Of course couple of minor resistances .0070 and .0160 on the way. not much in the way of news, so price was floating down on low volume, expecting a pretty good retrace, might not be till Jan 2, 2011..
Yeah. We would need to see a strong daily close below parity to really open up the downside. Until that time though, it's good to pick the bottom of the range with a stop not too far off in the event of a break down.
  • #362
  • Dec 28, 2010 7:05pm Dec 28, 2010 7:05pm
Quoting jack.canadia
Yeah. We would need to see a strong daily close below parity to really open up the downside. Until that time though, it's good to pick the bottom of the range with a stop not too far off in the event of a break down.
I check the daily chart,smell 0.9938 level ,i'm long text time from 0.9993 SL. 100 pips.
  • #363
  • Dec 29, 2010 12:03pm Dec 29, 2010 12:03pm
I wouldn't be surprised to see a low volume shake out down into 0.98xx. Big money is running the market atm...
  • #364
  • Dec 29, 2010 7:18pm Dec 29, 2010 7:18pm
Agree....everyone is buying except the mofos
  • #365
  • Jan 4, 2011 11:03am Jan 4, 2011 11:03am
Check the chart. Move stalled near the 1.382% extension of of the drop from 1.30's ... For longs, wait for a break above parity and then start to buy as close to parity on a retest with a stop no more than 20-30pips away.
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  • #366
  • Jan 4, 2011 6:10pm Jan 4, 2011 6:10pm
Quoting jack.canadia
Check the chart. Move stalled near the 1.382% extension of of the drop from 1.30's ... For longs, wait for a break above parity and then start to buy as close to parity on a retest with a stop no more than 20-30pips away.
Here is a nice setup. The 61.8% of the recent advance coincides with today's M2 pivot point and a prior resistance. Looking to buy.
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  • #367
  • Jan 6, 2011 1:48pm Jan 6, 2011 1:48pm
Potential inverse head and shoulders pattern forming below parity.
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  • #368
  • Jan 6, 2011 10:43pm Jan 6, 2011 10:43pm
Quoting jack.canadia
Potential inverse head and shoulders pattern forming below parity.
I hope it plays out I'm committed to long atm, from 0.9930 and will add on a break and retest of 1.0015

Funny thing about the U/C is that sometimes good news for the USD translates to good news for the loonie as we saw yesterday. Lets see what tomorrow brings..
  • #369
  • Jan 7, 2011 12:11am Jan 7, 2011 12:11am
Quoting Cdawg
I hope it plays out I'm committed to long atm, from 0.9930 and will add on a break and retest of 1.0015

Funny thing about the U/C is that sometimes good news for the USD translates to good news for the loonie as we saw yesterday. Lets see what tomorrow brings..
Be careful! Closing lower than 0.9930 today will potentially produce powerful waves moving downwards.
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  • #370
  • Jan 7, 2011 6:13am Jan 7, 2011 6:13am
Strong data. We should travel very south now on.
  • #371
  • Jan 7, 2011 8:09am Jan 7, 2011 8:09am
Took a long at 9905, stop 9895.
  • #372
  • Jan 7, 2011 10:45am Jan 7, 2011 10:45am
Quoting osceiv2
Strong data. We should travel very south now on.
Well my long got stopped just over BE, another long picked up at 0.9903.

The US economy is recovering slowly, the Canadian economy is holding its own. In order for a big move south there needs to be a catalyst to do so and at the moment I just don't see that on the horizon.

I will continue to buy the "bottom"

Cheers
  • #373
  • Jan 7, 2011 8:34pm Jan 7, 2011 8:34pm
I think if we really want to buy "the bottom", EUR/CAD will be the better choice.
  • #374
  • Jan 7, 2011 10:39pm Jan 7, 2011 10:39pm
The severely over-sold status can be clearly identified by the RSI (21) value in the EUR/CAD 4H chart.
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  • #375
  • Jan 13, 2011 4:38am Jan 13, 2011 4:38am
Still Downward
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Put your hands in the air , Give me all your money ! !
  • #376
  • Jan 13, 2011 5:47am Jan 13, 2011 5:47am
Quoting Ma Baker
Still Downward
Yes there is the room...but it is really far from the moving average on your chart...which makes me very hesitant to even think of selling the lows before a significant bounce.

Thanks for your chart.
  • #377
  • Jan 14, 2011 4:30am Jan 14, 2011 4:30am
it might test up b4 downside
Attached Image (click to enlarge)
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Put your hands in the air , Give me all your money ! !
  • #378
  • Jan 14, 2011 7:11am Jan 14, 2011 7:11am
Quoting Ma Baker
it might test up b4 downside
Attached Image (click to enlarge)
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Put your hands in the air , Give me all your money ! !
  • #379
  • Jan 16, 2011 12:19pm Jan 16, 2011 12:19pm
The downward breakout seems to have been retested and proven valid.
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  • #380
  • Jan 16, 2011 12:45pm Jan 16, 2011 12:45pm
Quoting Oodr
The severely over-sold status can be clearly identified by the RSI (21) value in the EUR/CAD 4H chart.
That over-sold status, marked by the red line 'A', turned out to be an excellent buying opportunity , and it may be further generalized for the pair EUR/CAD that the low RSI(21) value generates a buying signal.
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