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USDCAD trend reversal?

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  • Post #4,021
  • Quote
  • May 29, 2011 9:46pm May 29, 2011 9:46pm
  •  dailyking
  • Joined Aug 2010 | Status: Member | 3,935 Posts
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)
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Size: 17 KB
 
 
  • Post #4,022
  • Quote
  • May 30, 2011 2:24am May 30, 2011 2:24am
  •  FXMoneMaker
  • | Commercial Member | Joined May 2011 | 121 Posts
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
 
 
  • Post #4,023
  • Quote
  • May 31, 2011 9:43am May 31, 2011 9:43am
  •  dailyking
  • Joined Aug 2010 | Status: Member | 3,935 Posts
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
 
 
  • Post #4,024
  • Quote
  • May 31, 2011 11:29am May 31, 2011 11:29am
  •  RamsesII
  • Joined Jan 2009 | Status: Pharaoh | 1,612 Posts
Quoting RamsesII
Disliked
Big RSI divergence at these peaks, I'm looking to short for 100+ pips
Ignored
http://www.forexfactory.com/attachme...9&d=1306537479

update
Attached Image (click to enlarge)
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Size: 26 KB
Don't have an ego. Always question yourself and your ability.
 
 
  • Post #4,025
  • Quote
  • May 31, 2011 11:54am May 31, 2011 11:54am
  •  FXMoneMaker
  • | Commercial Member | Joined May 2011 | 121 Posts
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...
 
 
  • Post #4,026
  • Quote
  • Jun 4, 2011 8:24am Jun 4, 2011 8:24am
  •  foto
  • Joined Jan 2007 | Status: Member | 3,348 Posts
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.
 
 
  • Post #4,027
  • Quote
  • Jun 4, 2011 10:56am Jun 4, 2011 10:56am
  •  clc4x
  • | Joined Jan 2010 | Status: L. C. Chong | 882 Posts
http://lcchong.files.wordpress.com/2...ng?w=877&h=398

http://lcchong.files.wordpress.com/2011/06/image12.png
 
 
  • Post #4,028
  • Quote
  • Jun 6, 2011 3:55am Jun 6, 2011 3:55am
  •  FXMoneMaker
  • | Commercial Member | Joined May 2011 | 121 Posts
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
 
 
  • Post #4,029
  • Quote
  • Jun 6, 2011 7:11am Jun 6, 2011 7:11am
  •  suirad
  • | Joined Feb 2010 | Status: Member | 254 Posts
would try to open some Shorts around trend line ~0.9850.

http://4.bp.blogspot.com/-77ZGEu5y7b...trend+line.png
 
 
  • Post #4,030
  • Quote
  • Jun 6, 2011 2:03pm Jun 6, 2011 2:03pm
  •  forexcompoun
  • | Commercial Member | Joined Aug 2009 | 311 Posts
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)
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Name: toronto_special.gif
Size: 19 KB
 
 
  • Post #4,031
  • Quote
  • Jun 6, 2011 9:16pm Jun 6, 2011 9:16pm
  •  Scarecru
  • | Joined Sep 2009 | Status: Member | 673 Posts
Quoting foto
Disliked
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.
Ignored
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.
 
 
  • Post #4,032
  • Quote
  • Jun 7, 2011 2:14am Jun 7, 2011 2:14am
  •  FXMoneMaker
  • | Commercial Member | Joined May 2011 | 121 Posts
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
 
 
  • Post #4,033
  • Quote
  • Jun 7, 2011 2:40am Jun 7, 2011 2:40am
  •  slovforex
  • | Joined Sep 2009 | Status: Member | 816 Posts
Quoting RamsesII
Disliked
http://www.forexfactory.com/attachme...9&d=1306537479

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

usd/cad will be targeting 1.0050
 
 
  • Post #4,034
  • Quote
  • Jun 7, 2011 6:48am Jun 7, 2011 6:48am
  •  forexcompoun
  • | Commercial Member | Joined Aug 2009 | 311 Posts
Quoting forexcompoun
Disliked
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.
Ignored
This trade is doing just fine. We are already +53 and still counting.
Meshach
 
 
  • Post #4,035
  • Quote
  • Jun 7, 2011 9:27am Jun 7, 2011 9:27am
  •  FXMoneMaker
  • | Commercial Member | Joined May 2011 | 121 Posts
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
 
 
  • Post #4,036
  • Quote
  • Jun 7, 2011 11:02pm Jun 7, 2011 11:02pm
  •  Astroman
  • | Membership Revoked | Joined Aug 2010 | 1,300 Posts
This one has been surprising especially at this time.
 
 
  • Post #4,037
  • Quote
  • Jun 8, 2011 4:35am Jun 8, 2011 4:35am
  •  lucasvilla
  • | Joined May 2011 | Status: Junior Member | 3 Posts
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....
 
 
  • Post #4,038
  • Quote
  • Jun 8, 2011 5:42am Jun 8, 2011 5:42am
  •  suirad
  • | Joined Feb 2010 | Status: Member | 254 Posts
Quoting lucasvilla
Disliked
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....
Ignored
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.
 
 
  • Post #4,039
  • Quote
  • Jun 9, 2011 8:54pm Jun 9, 2011 8:54pm
  •  Scarecru
  • | Joined Sep 2009 | Status: Member | 673 Posts
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
 
 
  • Post #4,040
  • Quote
  • Jun 10, 2011 1:20am Jun 10, 2011 1:20am
  •  FXMoneMaker
  • | Commercial Member | Joined May 2011 | 121 Posts
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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