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  • #681
  • Edited 7:44am Oct 28, 2011 7:41am | Edited 7:44am
Very funny ... 5 US data has been released ... yet loonie doesn't make much moves. I'd guess they all went for early christmas !

Others don't wanna post their charts ? I wonder ...
Attached Image (click to enlarge)
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  • #682
  • Oct 28, 2011 7:50am Oct 28, 2011 7:50am
Quoting VennD
Very funny ... 5 US data has been released ... yet loonie doesn't make much moves. I'd guess they all went for early christmas !

Others don't wanna post their charts ? I wonder ...
it looks like there is a double bottom at 0.9890 and it breaks 0.9935 (the weak resistence to reject the first time attemp up from 0.9890 yesteday), but it still need to back 1.0000 level to confirm the double bottom is successful for further up.
  • #683
  • Oct 28, 2011 8:00am Oct 28, 2011 8:00am
Quoting VennD
Very funny ... 5 US data has been released ... yet loonie doesn't make much moves. I'd guess they all went for early christmas !

Others don't wanna post their charts ? I wonder ...
dear VennD,
based on the US Bad data recently...
actually what PA that it should be ?
I not understand yet the correlation between data and chart.
normally CAD move up or down?
pls.give me the explaination,TQ
  • #684
  • Edited 8:22am Oct 28, 2011 8:16am | Edited 8:22am
Quoting bestrader98
dear VennD,
based on the US Bad data recently...
actually what PA that it should be ?
I not understand yet the correlation between data and chart.
normally CAD move up or down?
pls.give me the explaination,TQ
1 more data left. 5 US data released . Overall favouring USD so ... buy usd/cad. Don't you see the technicals ? But if you chase the price ... hehehe

1.0051 target

I am ...

long @ 0.9902 + short @ 0.9968 (+66 pips)
long @ 0.9939 + short @ 0.9968 (+29 pips)

Looking for some more ...
  • #685
  • Oct 28, 2011 8:24am Oct 28, 2011 8:24am
Quoting Yuchen
it looks like there is a double bottom at 0.9890 and it breaks 0.9935 (the weak resistence to reject the first time attemp up from 0.9890 yesteday), but it still need to back 1.0000 level to confirm the double bottom is successful for further up.
Thanks for your analysis.
  • #686
  • Oct 28, 2011 8:24am Oct 28, 2011 8:24am
Quoting VennD
5 US data released . Overall favouring USD so ... buy usd/cad. Don't you see the technicals ? But if chase the price ... hehehe

1.0051 target

yup the tech double bottom 9891-5...
but with the BAD data (minus than forecast) :
why Overall favouring USD so ... buy usd/cad.?

bad is mean the usd should be weakness,isn;t it?
is mean the CAD get strong with moving down againts usd?
confused :-(
  • #687
  • Oct 28, 2011 8:40am Oct 28, 2011 8:40am
Quoting bestrader98
yup the tech double bottom 9891-5...
but with the BAD data (minus than forecast) :
why Overall favouring USD so ... buy usd/cad.?

bad is mean the usd should be weakness,isn;t it?
is mean the CAD get strong with moving down againts usd?
confused :-(
what data are you refering to ? Mine ... overall favouring usd. I don't know about the one that haven't release.
  • #688
  • Oct 28, 2011 8:42am Oct 28, 2011 8:42am
The market smells of a selloff
Please do not vouch for me.
  • #689
  • Oct 28, 2011 8:49am Oct 28, 2011 8:49am
Quoting bestrader98
yup the tech double bottom 9891-5...
but with the BAD data (minus than forecast) :
why Overall favouring USD so ... buy usd/cad.?

bad is mean the usd should be weakness,isn;t it?
is mean the CAD get strong with moving down againts usd?
confused :-(
Because USD also consider sort of safe heaven (especially SNB intervent CHF and BOJ keep bullshit may still threat some investors). When USD has bad data, it is more likely to favour USD these days...
On the other hand, BOC (Bank of Canada) keeps complaining strong CAD weak their export, i do not think they will do any intervention but they are definitely unhappy when USD/CAD is lower than 1, they also always complain weak US economy will have bad effect on Canadian economy, ect.. it is kind of complicated to analyze US data..
However, if you want to trade based on data, i suggest you use Canadian data analyze it, it is straight forward, good canadian data cause USD/CAD fall and bad canadian data cause USD/CAD up.
Another thing need to care is about the price of crude oil. high oil price usually cause USD/CAD fall and low oil price cause USD/CAD up
  • #690
  • Oct 28, 2011 8:50am Oct 28, 2011 8:50am
Quoting VennD
what data are you refering to ? Mine ... overall favouring usd. I don't know about the one that haven't release.
FF obviously !!!
Actual > Forecast = Good for currency
8:30am USD Core PCE Price Index m/m
0.0% 0.1% 0.2%
8:30am USD Employment Cost Index q/q
0.3% 0.6% 0.7%
8:30am USD Personal Spending m/m
0.6% 0.6% 0.2%
8:30am USD Personal Income m/m
0.1% 0.4% -0.1%

the actual were minus = bad for currency?
bad mean usd weakness, isn't it?
weak against cad, mean cad should move south?
  • #691
  • Oct 28, 2011 8:53am Oct 28, 2011 8:53am
Quoting bestrader98
... confused :-(
If it made you confuse ... why don't you just only focus on the charts and forget all the fundies. Maybe fundies are not for you. It's subjective though. U should read books on trading using fundamentals.

I combined techs/fundies/sentiments/real monies moving around the globe.
  • #692
  • Oct 28, 2011 8:55am Oct 28, 2011 8:55am
Quoting Yuchen
Because USD also consider sort of safe heaven (especially SNB intervent CHF and BOJ keep bullshit may still threat some investors). When USD has bad data, it is more likely to favour USD these days...
On the other hand, BOC (Bank of Canada) keeps complaining strong CAD weak their export, i do not think they will do any intervention but they are definitely unhappy when USD/CAD is lower than 1, they also always complain weak US economy will have bad effect on Canadian economy, ect.. it is kind of complicated to analyze US data..
However, if you want...

very apprciated for your advise Yuchen.
it's added my knowledge how to trd FX with the right way.
thank you
  • #693
  • Oct 28, 2011 9:04am Oct 28, 2011 9:04am
Quoting bestrader98
very apprciated for your advise Yuchen.
it's added my knowledge how to trd FX with the right way.
thank you
no problem, good luck and enjoy your trading..
Make sure you have safe money management, trade with small lots !!
  • #694
  • Oct 28, 2011 9:12am Oct 28, 2011 9:12am
Thinking at least 4070 today.
Please do not vouch for me.
  • #695
  • Oct 28, 2011 9:14am Oct 28, 2011 9:14am
Quoting spillini
Thinking at least 4070 today.
why dont you post it in EUR/USD thread ?
  • #696
  • Edited 10:57am Oct 28, 2011 9:44am | Edited 10:57am
Quoting Yuchen
no problem, good luck and enjoy your trading..
Make sure you have safe money management, trade with small lots !!
yeahhh...it's my LAST 'bullets' from my saving funds.
as a widow with 1 girl were very struggle in life.
I do have a MINI account which started in a bad trd.
I've lost 15% already ! even with small lots...just 0.1 lot ! LOL

meanwhile to hit & open potition...are scary to me atm.
so why I still must learning from the expert like you or other ppl.

just moment ago,
i see in my chart that 0.9975 was a resistant also from the recently(yesterday lastest)drop.
when the last support broken @ 0.9990
and just now in 5 minutes chart,seem CAD's double TOP & see the oil is moving up.
why I don;t hit sell from 0.9970 ? :-(
now till i wrote this,the looney drop tp 0.9920 already = TP 50p
bad luck huhhh !

thanx
  • #697
  • Oct 28, 2011 9:53am Oct 28, 2011 9:53am
Quoting bestrader98
yeahhh...it's my LAST 'bullets' from my saving funds.
as a widow with 1 girl were very struggle in life.
I do have a MINI account which started in a bad trd.
I've lost 15% already ! even with small lots...just 0.1 lot ! LOL

meanwhile to hit & open potition...are scary to me atm.
so why I still must learning from the expert like you or other ppl.

just moment ago,
i see in my chart that 0.9975 was a resistant also from the recently drop.
and in 5 minutes chart,seem CAD's double TOP & see the oil is moving up.
why I don;t hit sell from 0.9970 ?...
You will have very large pressure if you want to trade to earn moeny for live. If you feel scary to trade with 0.1 lot, then you can trade 0.01, 0.02 lot...
I am not expert at all, 99% members in this forum are better than I. For example, VenDD is way better than me... You could consider VenDD as German football team and consider me as Chinese football team...
You are right, there's resistence at 0.9970 but do not try to trade so frequently.. you should always be patient and use s/l to trade therefore you wont be scary.
good luck
  • #698
  • Oct 28, 2011 12:15pm Oct 28, 2011 12:15pm
Quoting Yuchen
it looks like there is a double bottom at 0.9890 and it breaks 0.9935 (the weak resistence to reject the first time attemp up from 0.9890 yesteday), but it still need to back 1.0000 level to confirm the double bottom is successful for further up.

I'm not sure a 40 pip move upwards counts as a "retracement" of any measure. In other words, I would consider the price to have been in consolidation this whole time, and not consider 0.9890 to have been hit "twice."

Bottomline, further downwards movement is still possible before a major upwards retracement.
  • #699
  • Oct 28, 2011 12:22pm Oct 28, 2011 12:22pm
Quoting kibescorp
I'm not sure a 40 pip move upwards counts as a "retracement" of any measure. In other words, I would consider the price to have been in consolidation this whole time, and not consider 0.9890 to have been hit "twice."

Bottomline, further downwards movement is still possible before a major upwards retracement.
That's true.. But on the daily chart, 0.9880 is 61.8% retracement for the USD/CAD up movement from 0.9410 to 1.0650 which should provide some supports.. but the daily chart is still strong bearish with no any up signal yet, a furthur down to test 9800 and 9680 level would not surprise me.. But if it really went to that level, then weekly chart does not show bullish for USD/CAD anymore..
I think i will still try to long this pair some points next week, just be patient
  • #700
  • Edited 7:59pm Oct 28, 2011 7:17pm | Edited 7:59pm
Quoting bestrader98
FF obviously !!!
Actual > Forecast = Good for currency
8:30am USD Core PCE Price Index m/m
0.0% 0.1% 0.2% = buy usd/cad **
8:30am USD Employment Cost Index q/q
0.3% 0.6% 0.7% = buy usd/cad **
8:30am USD Personal Spending m/m
0.6% 0.6% 0.2% = sell usd/cad **
8:30am USD Personal Income m/m
0.1% 0.4% -0.1% = sell usd/cad *

the actual were minus = bad for currency?
bad mean usd weakness, isn't it?
weak against cad, mean cad...
Earlier those came out ...

You didn't include this ...

Michigan Consumer Sentiment Index.
57.5 58.0 60.9 = buy usd/cad **

A mixed data of moderate and low (votalities) like these usually end-up ... trending / consolidation. If u use your Bollinger Band , u should hv bags of pips

* Low (10-20 pips up and down)
** Moderate (20-40 pips up and down)
*** High (80-350 pips moves) <--- U can enjoy your rides here.

PS ! Sorry ... I sign off from thread because I wanted to focus on trades...
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