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USDCAD trend reversal?

  • #4,021
  • May 29, 2011 8:46pm May 29, 2011 8:46pm
i'm going to take a quick scalp on the usd/cad if price breaks the pivot level of friday. I think this short trade is a nice scalp before the pair totally finalizes its short trend....
short usd/cad at 0.9742 sl= 0.9792 tp1=0.9725 tp2=0.9715
once the first target is hit, please move stop loss to break even...

walking to profits - nice set ups to come tonight at
http://www.forexfactory.com/showthre...254704&page=30

Attached Image (click to enlarge)
Click to Enlarge Name: usd.cad.gif Size: 17 KB
  • #4,022
  • May 30, 2011 1:24am May 30, 2011 1:24am
Usd/Cad This pair is still on uptrend, below retracement at 0.9740/50 is needed to change our view, break is to 0.9680/90 while high is at 0.9840
  • #4,023
  • May 31, 2011 8:43am May 31, 2011 8:43am
the usd/cad did close its uptrend last week. but the entry was a bit pick...that's why i did not take it...now it has just started a downtrend, at least for the short term...

follow my journal

http://www.forexfactory.com/showthre...254704&page=31
  • #4,024
  • May 31, 2011 10:29am May 31, 2011 10:29am
Quoting RamsesII
Big RSI divergence at these peaks, I'm looking to short for 100+ pips
http://www.forexfactory.com/attachme...9&d=1306537479

update
Attached Image (click to enlarge)
Click to Enlarge Name: ucadupdate.PNG Size: 26 KB
Don't have an ego. Always question yourself and your ability.
  • #4,025
  • May 31, 2011 10:54am May 31, 2011 10:54am
Hello DailyKing,

Take Note that my today daily analysis for this pair is found at "Usd/Cad" subject and says:

Usd/Cad after many tries in past days to break 0.9740/50, it succeeded today and targetting 0.9700, break here is to start downtrend targetting 0.9630/40 while only above 0.9760 is needed to retain the upward view targetting 0.9830 later on...
  • #4,026
  • Jun 4, 2011 7:24am Jun 4, 2011 7:24am
After yesterdays NFP will need several days of consolidation in the USD index to even consider a long USD position again.

It is tempting to believe that the Fed will embark on QE 3 and further monetize the US Federal deficit.
If this is done US bond markets will implode.

Outlook really getting dicey. Safe haven trades such as the CHF are clear indicators of the enormous risk that the markets are now facing.
When in doubt do nothing.
  • #4,027
  • Jun 4, 2011 9:56am Jun 4, 2011 9:56am
http://lcchong.files.wordpress.com/2...ng?w=877&h=398

http://lcchong.files.wordpress.com/2011/06/image12.png
  • #4,028
  • Jun 6, 2011 2:55am Jun 6, 2011 2:55am
Usd/Cad This pair is still on daily uptrend, targetting high at 0.9840/50, retracement is at 0.9760 only break and base below would change our upward view to target 0.9720
*Take Note that there's an important news release for the CAD today that would effect this pair movement...

- CAD IVEY PMI: Buy Usd/Cad if 56 or below while sell if 60 or above
  • #4,029
  • Jun 6, 2011 6:11am Jun 6, 2011 6:11am
would try to open some Shorts around trend line ~0.9850.

http://4.bp.blogspot.com/-77ZGEu5y7b...trend+line.png
  • #4,030
  • Jun 6, 2011 1:03pm Jun 6, 2011 1:03pm
Hi all,
I choose to call this "Toronto Special"
Sell USDCAD @ market price SL 100 pips TP 0.9675
See chart attached.
Happy trading!
Meshach.
Attached Image (click to enlarge)
Click to Enlarge Name: toronto_special.gif Size: 19 KB
  • #4,031
  • Jun 6, 2011 8:16pm Jun 6, 2011 8:16pm
Quoting foto
After yesterdays NFP will need several days of consolidation in the USD index to even consider a long USD position again.

It is tempting to believe that the Fed will embark on QE 3 and further monetize the US Federal deficit.
If this is done US bond markets will implode.

Outlook really getting dicey. Safe haven trades such as the CHF are clear indicators of the enormous risk that the markets are now facing.
When in doubt do nothing.
Yo FOTO: Too true my friend. Mthly & Wkly U/Cad teks suggest long this pair
(the indies are turning up) 9840 is my short target.
Beaver is going down. Been selling Cad/Chf (as well as other swissies).

Baltic Dry Index is 1/2 of last year.

Risk aversion is my trade plan.
  • #4,032
  • Jun 7, 2011 1:14am Jun 7, 2011 1:14am
Usd/Cad This pair is still on daily uptrend, high is at 0.9840/50, retracement is at 0.9780, break is to 0.9760/65 then 0.9730/35 must hold
  • #4,033
  • Jun 7, 2011 1:40am Jun 7, 2011 1:40am
Quoting RamsesII
http://www.forexfactory.com/attachme...9&d=1306537479

update
There is a reverse Head and Shoulder pattern on the chart.

usd/cad will be targeting 1.0050
  • #4,034
  • Jun 7, 2011 5:48am Jun 7, 2011 5:48am
Quoting forexcompoun
Hi all,
I choose to call this "Toronto Special"
Sell USDCAD @ market price SL 100 pips TP 0.9675
See chart attached.
Happy trading!
Meshach.
This trade is doing just fine. We are already +53 and still counting.
Meshach
  • #4,035
  • Jun 7, 2011 8:27am Jun 7, 2011 8:27am
Good Breakout Strategy: Sold at 0.9780, closed at 0.9737
And bought at 0.9736 targetting 0.9760

* As my previous post says, break of retracement 0.9780 is to 0.9760/65 then 0.9730/35 must hold
  • #4,036
  • Jun 7, 2011 10:02pm Jun 7, 2011 10:02pm
This one has been surprising especially at this time.
  • #4,037
  • Jun 8, 2011 3:35am Jun 8, 2011 3:35am
Pls, can someone in dis forum be my friend. I lost 1500usd few weeks back and now i just sent another 1100usd to my broker, am not very good in trading. but i have interest in forex, dats why i need friends who can update me on when to enter a trade or not. send me yahoo id or skype so we can have instant chat, i dont always come on here....
  • #4,038
  • Jun 8, 2011 4:42am Jun 8, 2011 4:42am
Quoting lucasvilla
Pls, can someone in dis forum be my friend. I lost 1500usd few weeks back and now i just sent another 1100usd to my broker, am not very good in trading. but i have interest in forex, dats why i need friends who can update me on when to enter a trade or not. send me yahoo id or skype so we can have instant chat, i dont always come on here....
Hi, how to contact you, you didn't give any contacts and your profile doesn't help too.

My first advice would be (if you have no experience), take that money out from your account open account with ~100usd. I would recommend you GoMarkets broker, because they let you trade nano lots (0.001). So if you lose again (what is very possible), you lose less. And later, if you still have these 100usd or more and been trading for half a year or so, you can add another 100usd. This means patience and determination, which is very important here. You can check out my blog, if you got any questions - ask.
  • #4,039
  • Jun 9, 2011 7:54pm Jun 9, 2011 7:54pm
Dly: sell 9729 ( May 11-31 up TL break)
-ve div STO
MacD down ( but > H2O)


4H: sto down rsi < 50
9730 prev supp & 200 ema

TP 9660
  • #4,040
  • Jun 10, 2011 12:20am Jun 10, 2011 12:20am
Medium Term Stratgey(Daily):

Usd/Cad This pair is on downtrend today, retracement is at 0.9760, break and base above would change our view to target 0.9815/20 while low is at 0.9680
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