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EurCad Analysis and Trading Ideas

  • #261
  • May 18, 2012 8:36am May 18, 2012 8:36am
Quoting HDA
@Covux:

We will be heading back down. To trade the EUR/CAD you have to be very very very very patient. Most trades on this pair takes two sometimes three days to work out. The currency pait teaches patience.

There is strong resistance at 1.2960 which will help to keep the down trend intact

We however have to wait and see how the daily candle closes today to get better confirmation that the trend is holding
Respectfully,
HDA

HDA Thank you for your answer
will take this into account when i make my next CAD trade
  • #262
  • May 18, 2012 8:42am May 18, 2012 8:42am
Hello KW, glad yuo are back. Can you please elaborate a little bit on the term "Parity"?

Quoting KillerWhale
The beauty of UCAD is, whether it is from up or down, it always comes back to parity
  • #263
  • May 18, 2012 8:44am May 18, 2012 8:44am
Quoting RMiranda
Hello KW, glad yuo are back. Can you please elaborate a little bit on the term "Parity"?
parity is 1.00000000000000 where usd equals cad
Wooooohooooo or Boooooohooooo
  • #264
  • May 18, 2012 9:06am May 18, 2012 9:06am
Quoting Covux
HDA Thank you for your answer
will take this into account when i make my next CAD trade
@Covux:

Carrying trades into the weekend on this pair is not advisable though the spread widens to between 20 and 40 pips over the weekend.

We must always wait for confirmation before placing trades.

Some traders look at candles in motion and assume hey doji and when the candle finally closes maybe 1hr or 4 hours later no doji. So its important to always wait for confirmation first and then execute your trade.

We are in a retrace off the lows - lets see what the daily tells us when it closes today.

If 1.2960 goes - then look for 1.3010 lets see if 1.2960 can stand up to the bulls

Respectfully,
HDA
  • #265
  • May 18, 2012 9:11am May 18, 2012 9:11am
Case In Point

Look at your daily right now - some traders would say HEY DOJI, but we have a long way to go before the daily candle closes.

What is clear though is that 1.2960 resistance is there

Respectfully,
HDA
  • #266
  • May 18, 2012 9:14am May 18, 2012 9:14am
Killer,

Would you allow us to post eurusd related?
thanks in advance.
  • #267
  • May 18, 2012 9:22am May 18, 2012 9:22am
Quoting HDA
@PKIMNYC:

Sure If KillerWhale allows it, but Im a bit hesistant because this is actually the EUR/CAD thread but lets see what KillerWhale says after he's found.

Yesterday I said to the traders in the EUR/USD room at 7:04am Eastern










People still bought the EUR and were getting stopped out

[b][color=purple]What actually happened in the market after I posted...
congrats on your trade.
  • #268
  • May 18, 2012 9:28am May 18, 2012 9:28am
Quoting HDA
Case In Point

Look at your daily right now - some traders would say HEY DOJI, but we have a long way to go before the daily candle closes.

What is clear though is that 1.2960 resistance is there

Respectfully,
HDA

@HDA

I won't trade anyting for today i met my target

i am just following CAD en maybe i make another trade next week
I need to do my homework first on the CAD as i have only made one trade so far with a CAD related currency pair.

i'll read this thread this weekend and also the USD/CAD one.

Once again ty you for your tips
  • #269
  • May 18, 2012 9:38am May 18, 2012 9:38am
Great trade HDA!!! Im not at all surprised that your profit target was hit. I look forward to having the same success with the eur/cad pair and some day further down the road the eur/usd. Just another great example of how your training/word is right on!

I didnt make any trades this morning. Told myself that I would wait until I have a better grip on what is going on. Im going to try and finish the book this afternoon if Cullen sleeps at all.

I have been following along and looking for the resistance of 1.2960 that you are referring to, are you looking at a 1D chart or a 4h chart?

Hope everyone is following along and great day

Shawn

Quoting HDA
@PKIMNYC:

Sure If KillerWhale allows it, but Im a bit hesistant because this is actually the EUR/CAD thread but lets see what KillerWhale says after he's found.

Yesterday I said to the traders in the EUR/USD room at 7:04am Eastern










People still bought the EUR and were getting stopped out

[b][color=purple]What actually happened in the market after I posted...
  • #270
  • May 18, 2012 9:49am May 18, 2012 9:49am
@shawn3245:

You are a husband and a family man and I want you to understand what I'm about to share with you very very clearly.

Do not neglect your family for the Forex.

What I am going to be teaching you, will allow you to trade the forex and be the perfect husband and father at the same time and this is why it so important that you master AGREEMENT #1 in the FOUR AGREEMENTS.

It's very important to have a strong support system if one decides to go into forex trading. A trader must have the buy in of his/her immediate family members around them as they are the one's that are going to be directly affected by what he/she the trader do or does not do.

Traders must sit with their immediate family and explain exactly what they are trying to do, how they will be structuring their time to accommodate everything and most importantly he/she MUST ASK not tell, MUST ASK for their families support.

Once you have achieved that Agreement between you and family - you must stick to it.

What Im teaching you will allow you only 4 opportunities to place a trade each day. 4am, 8am, 12pm and 8pm. Once your trade is place at those times you dont need to go back to the PC until 4hours later. So you have the time to dedicate to other things.

Between 12pm and 8pm - No trading - that's it for the day - thats a full 8 hrs to be with family even if you are still in a trade at 12 noon and the market says to hold, you dont go back to the PC until 8pm.

So you now have a predictable trading schedule that you can stick to and honor your family obligations at the sametime.

Once you place your trade at those times, based on the set ups that form, you dont need to watch it.

When the weekend comes - Reward your family for their support by spending the weekend with them and think nothing about trading.

You must honor this agreement consistently - remember AGREEMENT #1 in the FOUR AGREEMENTS.

Once you can do this in your personal life, you will also be able to trade your plan without flaw. So you are actually cultivating a new habit, developing yourself personally, earning your families trust and respect and simultaneously trading your plan. WIN WIN

When you do this, during the times when you make a LOSS - your family will be there to support you, because of you managed your devotion to them and to trading.

I want you to listen to this song and play it for your wife after you get her permission.

Inserted Video


Respectfully,
HDA
  • #271
  • May 18, 2012 9:59am May 18, 2012 9:59am
@HDA,

I am trying to get a hold on your teachings, the candletimes you are talking about, are they EST candles?

Thanks.
  • #272
  • May 18, 2012 10:07am May 18, 2012 10:07am
Resistance

Resistance has been adjusted to 1.2965

Respectfully,
HDA
  • #273
  • May 18, 2012 10:08am May 18, 2012 10:08am
Quoting homerus
@HDA,

I am trying to get a hold on your teachings, the candletimes you are talking about, are they EST candles?

Thanks.
@homerus:

Yes EST

Respectfully,
HDA
  • #274
  • May 18, 2012 10:13am May 18, 2012 10:13am
@HDA

Ok, thank you. I'll spend some time marking them on the 4H charts, and will try to find some clues on which criteria could be used to base the trade decisions on.
  • #275
  • May 18, 2012 10:15am May 18, 2012 10:15am
Quoting HDA
Resistance

Resistance has been adjusted to 1.2965

Respectfully,
HDA
1.2960 has broken, waiting for the daily candle to close...
will it ever come down now...u are right HDA..patience is the key for Eur/cad...i am used to eur/usd and i am just stiing infront of eur/cad all day to see it come down again...but not happening...
ASH
  • #276
  • May 18, 2012 10:17am May 18, 2012 10:17am
OFFERS

The offers are being filled - will the bears have enough money - let see

Now look for 1.3010 as said earlier

Respectfully,
HDA
  • #277
  • May 18, 2012 10:30am May 18, 2012 10:30am
Quoting ash_k
1.2960 has broken, waiting for the daily candle to close...
will it ever come down now...u are right HDA..patience is the key for Eur/cad...i am used to eur/usd and i am just stiing infront of eur/cad all day to see it come down again...but not happening...
ASH
ash_K:

Remember I said that yesterday on the EUR/USD heavy heavy heavy offers were at 1.2740 to push the EUR/USD back down - Look on the EUR/USD it has got to 1.2740 and look at what is happening - REJECTION as I stated yesterday. Will it hold, we have to wait and see. In real time look. So many factors affect the EUR/CAD as I explained earlier as to all the things that you have to watch to trade it.

ash_k we are still in a downtrend, this is just the retrace. We have to wait for the daily to close on this EUR/CAD.

This currency pair will break every trader into becoming patient if they want to trade it.

Respectfully,
HDA
  • #278
  • May 18, 2012 10:38am May 18, 2012 10:38am
Traders,

I have some commitments to keep - so I have to run.

Take care,

@KillerWhale - glad to see you back

@ash_k: patience

Respectfully,
HDA

OUT
  • #279
  • May 18, 2012 10:38am May 18, 2012 10:38am
Quoting gnomoneey
it looks like a break of 1.288x last night and 1.2935 is telling me that we are headed up to 1.3000...let's see...
looking back we have a very hard support at 1.2783 dating back from 01-2011.

also last 15min a bounce of 1.2880 to shoot all the way pass 1.2935 resistance...lets see if h4 will close above 1.2935
or below we will then channel between 1.2935 and 1.2880
--note--- no idea of what happen with that spike...
any opinion is welcomed, as i am also learning this pair....

now i'm beginning to understand KW and hda, that they say this pair is very predictable...by watching the h4 and d1 you can see the s/r and react from there. we are currently retracing upward from a downward trend.
please look at my previous charts i've posted last night and you'll see
Wooooohooooo or Boooooohooooo
  • #280
  • May 18, 2012 10:43am May 18, 2012 10:43am
Quoting HDA
@shawn3245:

You are a husband and a family man and I want you to understand what I'm about to share with you very very clearly.

Do not neglect your family for the Forex.

What I am going to be teaching you, will allow you to trade the forex and be the perfect husband and father at the same time and this is why it so important that you master AGREEMENT #1 in the FOUR AGREEMENTS.

It's very important to have a strong support system if one decides to go into forex...
wooow, unbelievable, You are great help to a lot of people, I've been following your posts now for 3 weeks, you made the call on Eur/Us short and no one I mean no one agreed with you, now here we are just like you called it, impressive. I went short few times but each time I took profit, and waited awhile before getting in again, as I wasn't brave enough to hold on to my position this long. I Really appreciate all your posts and the time you spend to teach newbies like myself. Thank you.
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