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  • #1,241
  • Dec 6, 2011 1:41pm Dec 6, 2011 1:41pm
Nothing has changed, 200 MA holding H4 to range, s major support at 1.010. perhaps a period of ranging in the same channel (within 1.010-1.0192) for a bit...or perhaps Venn is ready to take more money....maybe I'll switch to m30 and play ping pong.

long looks promising for intra day, but won't buy until bottoms out at 1.008-1.0010 and confirmation candle on the upswing ( I don't like the way the stochastic is tailing at the bottom right now on H1... maybe i'm too cautious
  • #1,242
  • Dec 6, 2011 2:22pm Dec 6, 2011 2:22pm
If price breaks support at 1.0060 level, next stop will be 0.9980. With the news following in the week, depending on the outcomes, it could be possible to see 0.98 or lower or 1.03 or higher..

Venn, that 4hr chart has way to many lines on it for me to look at it with out being confused.. haha..

Still some important news coming in the balance of the week
Thursday
5:15am CAD Housing Starts

5:30am USD Unemployment Claims

Friday
5:30am CAD Trade Balance
5:30am USD Trade Balance
  • #1,243
  • Dec 6, 2011 2:30pm Dec 6, 2011 2:30pm
hi Mr. vennD.
Would you please tell us what is u/c immediate target I mean its target in next few hours, & is it possible to go up to 1.0200 or more in next hours or not?
thanks alot.
  • #1,244
  • Dec 6, 2011 3:42pm Dec 6, 2011 3:42pm
Quoting Cdawg
If price breaks support at 1.0060 level, next stop will be 0.9980. With the news following in the week, depending on the outcomes, it could be possible to see 0.98 or lower or 1.03 or higher..

Venn, that 4hr chart has way to many lines on it for me to look at it with out being confused.. haha..

Still some important news coming in the balance of the week
Thursday
5:15am CAD Housing Starts
5:30am USD Unemployment Claims
Friday
5:30am...
yeah ... u may be right about that "balance" . Im not totally bias to the downside either

About those lines ... yeah ... but mind you ... my trendlines is talking about big money going on in there ... how about yours ?
  • #1,245
  • Dec 6, 2011 3:43pm Dec 6, 2011 3:43pm
I'm no expert but if this thing was gonna break up at the current support line it would be shooting up by now, I think we might get closer to 0.98?
  • #1,246
  • Edited 10:35pm Dec 6, 2011 3:46pm | Edited 10:35pm
Quoting uptrendup
hi Mr. vennD.
Would you please tell us what is u/c immediate target I mean its target in next few hours, & is it possible to go up to 1.0200 or more in next hours or not?
thanks alot.
Forgive me ... but u should read my notes posted earlier before you ask me.

Probably consolidation between 1.0050 - 1.0300 ... IMO.... and IF it can't stay above 1.0050 , probably it will re-visit its friends down there . Where is the next level down there ? Look it for yourself .

It is not so difficult to predict U/C . Mostly are talking about oil going out of Canada and ... electronics goods / some other food stuff coming in to Canada. What you need to do next is ... to relate them with your technicals in the chart . That's all.

(+895 pips secured )
  • #1,247
  • Dec 6, 2011 6:19pm Dec 6, 2011 6:19pm
Quoting adug6
I'm no expert but if this thing was gonna break up at the current support line it would be shooting up by now, I think we might get closer to 0.98?
Patience, it takes time for a turn about.. Personally, I think we may touch 0.9980 area. As mentioned in a previous post, when you have a sharp drop (or rise) the momentum tends to keep the price going in the same direction at least until the next major session, where it may reverse or continue.

With oil prices moving slightly upwards approaching the highs of the last 6-8months, it could well lead to some serious strength in the loonie. It will be interesting to watch, with record consumption happening, I feel we will test the recent high.

That said, you need to trade what your chart is telling you all the back ground information is great, but it doesn't always directly translate into the price action.

Cheers
  • #1,248
  • Dec 6, 2011 10:00pm Dec 6, 2011 10:00pm
Hi Guys, I am a new member to this forum even though I am reading it regularly, I've never actually posted anything. I am trading only USDCAD. I might be mistaken, but the markets just turned bull last few days. It can change anytime, but for now, I am thinking of CAD going up.

VennD, I absolutely love your commentary, and I like to check your charts with so many laser lines that they remind me of the Starwars :-). I have a question for you though. You wrote recently: "It is not so difficult to predict U/C . Mostly are talking about oil going out of Canada and ... electronics goods / some other food stuff coming in to Canada. What you need to the next is ... to relate them with your technicals in the chart . That's all."

I've never paid attention to these details you mentioned in your post. How do you use this information, and where do you even track this? For instance you mention "some food stuff coming in to Canada". How do you find this info, who tracks it?
  • #1,249
  • Edited 10:39pm Dec 6, 2011 10:29pm | Edited 10:39pm
Quoting canadian
.... I never paid attention to these details you mentioned in your post. How do you use this information, and where do you even track this? For instance you mention "some food stuff coming in to Canada". How do you find this info, who tracks it?
You will never get an answer from me directly ... coz ... Im lazy to tell you

(+905 pips secured)
  • #1,250
  • Dec 6, 2011 10:37pm Dec 6, 2011 10:37pm
Quoting VennD
You will never get an answer from me directly ... coz ... Im lazy to tell you
If this information is not available in public domain, why would you mention it? :-). Food entering Canada? From where, what food, when? Do we have some days of the month when Canadians expect deliveries of food? Sounds unreal to me. Give us all a hint
  • #1,251
  • Edited Dec 7, 2011 12:42am Dec 6, 2011 11:08pm | Edited Dec 7, 2011 12:42am
Quoting canadian
If this information is not available in public domain, why would you mention it? :-). Food entering Canada? From where, what food, when? Do we have some days of the month when Canadians expect deliveries of food? Sounds unreal to me. Give us all a hint
yeah ... you probably right ! All the while ... " Canadians produces its own food . Never import food from other countries . "

Is that correct ? ( btw ... can we share your analysis chart in this thread , please ?)
  • #1,252
  • Edited Dec 7, 2011 12:28am Dec 6, 2011 11:58pm | Edited Dec 7, 2011 12:28am
Tracking ... where does some food came from ... for mr.canadian ...
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  • #1,253
  • Dec 7, 2011 12:51am Dec 7, 2011 12:51am
VennD, you just mentioned something about the food and oil payments, and you are using this information to predict the movements of USDCAD. I don't understand that, and that's why I asked you what you meant by that. I am always want to learn new things. Can you share with me this information?

As for my analysis, I can definitely share it with others. I am looking only at the charts of Nasdaq, and Dow, and I am trying to determine the trend of where the markets are going. If it is a bull market the USD goes down, and vise versa. So, right now for example my charts show me that I have to sell USD, but I might be wrong.

Guys, have a good trading day tomorrow! :-)
  • #1,254
  • Dec 7, 2011 2:08am Dec 7, 2011 2:08am
Tracking CAD Index against the others ...


Canada's main imports partners are United States , EU , China , Mexico , etc. What does Canada import from them ? I don't know ...
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  • #1,255
  • Edited 2:29am Dec 7, 2011 2:21am | Edited 2:29am
Quoting canadian
VennD, you just mentioned something about the food and oil payments, and you are using this information to predict the movements of USDCAD. I don't understand that, and that's why I asked you what you meant by that. I am always want to learn new things. Can you share with me this information? ...
No need to learn ... let us be lazy ... dreaming ... that we are already rich by now

... and don't ask me about that white chart .

(+987 pips secured)

Im going to have a rest for awhile ... dreaming ...

(sign off)
  • #1,256
  • Dec 7, 2011 2:39am Dec 7, 2011 2:39am
possibility in a short term - m30 TF
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  • #1,257
  • Dec 7, 2011 3:42am Dec 7, 2011 3:42am
on the money greg.
  • #1,258
  • Dec 7, 2011 4:07am Dec 7, 2011 4:07am
weekly shows strong demand to see 1.0 level maybe even 0.992
after these levels up should only be seen
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  • #1,259
  • Edited 6:10am Dec 7, 2011 5:53am | Edited 6:10am
" The moustache is going to be shaved clean ... IF it doesn't defend 79.75 ... together with yuro " . CAD says that ...

( +1,009 pips secured in U/C )
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  • #1,260
  • Edited 8:23am Dec 7, 2011 8:05am | Edited 8:23am
time to go short on this pair 1,0120
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