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USD/CAD Trading Room

  • #441
  • Jul 19, 2011 2:35am Jul 19, 2011 2:35am
Quoting Oodr
Glad to see you here.
Now with the big opposite move of UCAD, do you think we have to be more careful with the ticky Swissy move.

markets still look risk averse

problem with a pair like the USD/CHF is they are both funding pairs
so different types of risk aversion drives it

I cleared a bit off at 8229... trick now is to see what happens between the 8194 and 8229

Also the EU is roaring but the area it is at is extremely stubborn...

lets give it a bit of time... and see how this critical area plays out... I am still speculatively long from .8191

id really like to add to the position however
  • #442
  • Jul 19, 2011 2:36am Jul 19, 2011 2:36am
btw glad to see you here too


the cad really has my interest lately.... it almost is becoming a safe haven currency unto itself...
  • #443
  • Jul 19, 2011 2:39am Jul 19, 2011 2:39am
Quoting Wulfgar
btw glad to see you here too


the cad really has my interest lately.... it almost is becoming a safe haven currency unto itself...
It could become another Swissy.

http://www.forexfactory.com/images/icons/icon10.gif
  • #444
  • Jul 19, 2011 2:39am Jul 19, 2011 2:39am
Quoting Oodr
A valid H&S Pattern?
Attached File(s)
File Type: pdf Head and Shoulder.pdf   33 KB | 609 downloads


Be careful. Inverse head and shoulder in a longer time horizon.
  • #445
  • Jul 19, 2011 2:43am Jul 19, 2011 2:43am
Quoting Oodr
It could become another Swissy.

http://www.forexfactory.com/images/icons/icon10.gif

it could

jeez will the next couple weeks be pivotal or what?

amazing times we live in
  • #446
  • Jul 19, 2011 2:44am Jul 19, 2011 2:44am
Quoting tkhlam
Attachment

Be careful. Inverse head and shoulder in a longer time horizon.
Yes, I see it in the H4 time frame, but I expect it to be broken.
  • #447
  • Jul 19, 2011 2:53am Jul 19, 2011 2:53am
some very pivotal areas to keep an eye on with the Cad are

Key 0.9767
Bias 0.9721
LT CTR 0.9714
Key 0.9687
MT CTR 0.9647


Bias 0.9630



Key 0.9500

Key 0.9477

 Bias 0.9415
Key 0.9382


sorry they arnt more organized

I use these numbers to identify when price is in between clusters of them whioch for support and resistance... and trade the channels therein

Bias numbers in particular are areas of very high importance... just look back across your charts at what happens around those suckers....

anyhow i just wanted to help a bit!
  • #448
  • Jul 19, 2011 3:00am Jul 19, 2011 3:00am
Quoting Wulfgar
some very pivotal areas to keep an eye on with the Cad are

Key 0.9767
Bias 0.9721
LT CTR 0.9714
Key 0.9687
MT CTR 0.9647


Bias 0.9630



Key 0.9500

Key 0.9477

[b][color=black][font=&quot]Bias...
Thanks for the valuable data.
  • #449
  • Jul 19, 2011 3:09am Jul 19, 2011 3:09am
no problem my friend! Ill see you on here more! I am actually waiting for a retest of the 9630 area to make a decision on this pair... seems like a criitcal area as of late!
  • #450
  • Jul 19, 2011 9:01am Jul 19, 2011 9:01am
Quoting Oodr
Yes, I see it in the H4 time frame, but I expect it to be broken.
Update.
Attached Image (click to enlarge)
Click to Enlarge Name: uc-h4.gif Size: 24 KB
  • #451
  • Jul 19, 2011 12:08pm Jul 19, 2011 12:08pm
Quoting Oodr
Update.
  • #452
  • Jul 19, 2011 12:19pm Jul 19, 2011 12:19pm
Quoting Wulfgar
Closed at 9497
Attached Image (click to enlarge)
Click to Enlarge Name: uc-h4.gif Size: 28 KB
  • #453
  • Jul 19, 2011 12:27pm Jul 19, 2011 12:27pm
Quoting Oodr
Closed at 9497
Waiting for double bottom .9450, doesn't look like it going to retract today..

Still lots of news this week so anything could happen.
  • #454
  • Jul 19, 2011 12:53pm Jul 19, 2011 12:53pm
Quoting Oodr
Closed at 9497

ya if the dailys close under 9500 thats a pretty darn bearish sign...

this pair may retest all time lows if this risk aversion sentiment keeps up...

the 9450 area is def strong however
  • #455
  • Jul 19, 2011 4:11pm Jul 19, 2011 4:11pm
USDCAD is right now at critical point + BOC statement will come out tomorrow, and they are not going to be bullish on increasing interest rate,
that may trigger 0.97xx level end of the week,
and further GOLD is Very Very over bought in most charts including weekly,
and oil is stable, and canadian economy is most dependent on THese to factors,
so what i am saying is it may not be a good time to sell usdcad
it maybe time to buy USDCAD for medium term

anycomments will be appreciated
Don't compare your Trades with Others
  • #456
  • Jul 19, 2011 5:49pm Jul 19, 2011 5:49pm
Quoting DubaiFX
USDCAD is right now at critical point + BOC statement will come out tomorrow, and they are not going to be bullish on increasing interest rate,
that may trigger 0.97xx level end of the week,
and further GOLD is Very Very over bought in most charts including weekly,
and oil is stable, and canadian economy is most dependent on THese to factors,
so what i am saying is it may not be a good time to sell usdcad
it maybe time to buy USDCAD for medium term

anycomments will be appreciated
I agree, I would not be looking to short at this level. The end of this week could be quite surprising with the US and Canadian news. I am holding several shorts with profit locked. Ordinarily I don't like to trade the U/C when there are alot of news, as bad news for the US can mean either strength for the loonie or weakness.. it really is gambling.. I would suggest waiting till next week and re-evaluate this pair.
  • #457
  • Jul 21, 2011 12:19pm Jul 21, 2011 12:19pm
A shot with a small stoploss.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ucad-30m.gif Size: 29 KB
Click to Enlarge Name: ucad-5m.gif Size: 32 KB
  • #458
  • Jul 21, 2011 12:49pm Jul 21, 2011 12:49pm
Quoting Oodr
A shot with a small stoploss.
I dont think its a bad trade at all

I got in short when the Cad bounced back up to the 9477(one of my key numbers) several hours ago... then we took out the low... I think we really have a legitimate shot at the ATL's in the next few weeks

  • #459
  • Jul 21, 2011 2:18pm Jul 21, 2011 2:18pm
Quoting Wulfgar
I dont think its a bad trade at all

I got in short when the Cad bounced back up to the 9477(one of my key numbers) several hours ago... then we took out the low... I think we really have a legitimate shot at the ATL's in the next few weeks

Scary situation now.
Attached Image (click to enlarge)
Click to Enlarge Name: ucad-5m.gif Size: 33 KB
  • #460
  • Jul 21, 2011 4:27pm Jul 21, 2011 4:27pm
Stop-Huntered minutes before NY market close, at the day's highest level, but the short was reentered later.
Attached Image (click to enlarge)
Click to Enlarge Name: ucad-5m.gif Size: 33 KB
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