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USD/CAD

  • #3,001
  • Aug 1, 2012 4:43pm Aug 1, 2012 4:43pm
we have tested the bottom of the down channel (hourly) and inside of this we have a W pattern.
Good night.
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Don't be smart. Be rich.
  • #3,002
  • Aug 1, 2012 7:25pm Aug 1, 2012 7:25pm
While technically it looks like a decent long... I think it's simply pre-announcement speculation the ECB won't do enough to make the markets happy.

Either way, I'm long at 1.0050, stop at parity. If the ECB brings the big guns, well I'll see ya'll at 0.9600!
  • #3,003
  • Aug 1, 2012 9:26pm Aug 1, 2012 9:26pm
The next two days of USD news is pretty interesting. We could potentially see a triple bottom, or a pullback to the .0020 area, on Thursday. On Friday, we either get good new or bad news. For the charts, I see high probability for price to move up, so I'm hoping for good news.
Play the players, not the cards.
  • #3,004
  • Aug 2, 2012 5:03am Aug 2, 2012 5:03am
it just dont want to go over 54 and stay there...down we go ( took profit 1.0044)
Quoting eqshack
we need to close daily candle above 1.0054 ( my SL BE ) then we goin towards 1.0097-05 area.If we break that we are back to 1.0160-220 area

if we dont go over 54 then we might go to 0.9989 and then up..dunno lets see what happens
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #3,005
  • Aug 2, 2012 7:37am Aug 2, 2012 7:37am
Do or die for me right here.
  • #3,006
  • Aug 2, 2012 7:41am Aug 2, 2012 7:41am
Quoting Zappa
Do or die for me right here.

Looks like a big ole shake out to me
"Millionaires don't use astrology, billionaires do"
  • #3,007
  • Aug 2, 2012 7:45am Aug 2, 2012 7:45am
Quoting OrionsWay
Looks like a big ole shake out to me

I'm glad I put my stop to .9990 again. I had it at 1.0002 while I slept.
  • #3,008
  • Aug 2, 2012 7:49am Aug 2, 2012 7:49am
Quoting Zappa
I'm glad I put my stop to .9990 again. I had it at 1.0002 while I slept.
tight RR is good bro if your scalpin or happen to catch the absolute bottom/top of a trade, but for position and swing trading Gotta keep em well outta range, its just part of the risk process that comes with large moves we expect. If they really want them they must commit HEAVILY, BUT if market is no longer bullish/bearish they will not do it. NO in it for them to go for them.

Notice how they killed all the close in stops new lo for the traders holding cpl tics below lo and a lightening bolt outta the hole, trapping/killing everyone now mid range short, their stops will be the bolster for new highs at a very litttle investment for breakout LOL
"Millionaires don't use astrology, billionaires do"
  • #3,009
  • Aug 2, 2012 7:58am Aug 2, 2012 7:58am
Quoting OrionsWay
tight RR is good bro if your scalpin or happen to catch the absolute bottom/top of a trade, but for position and swing trading Gotta keep em well outta range, its just part of the risk process that comes with large moves we expect. If they really want them they must commit HEAVILY, BUT if market is no longer bullish/bearish they will not do it. NO in it for them to go for them
Yeah, for many years I've had a ridiculous amount of trades get stopped at precisely the reversal point and then watched in amazement as the trade went where I thought it would only without me.

My stop placement goes back to post #2980. Sometimes I make the mistake of moving my stop closer before it has really had lift-off. I changed my stop this morning back to .9990 because I thought, "what the hell, if I'm going to get stopped it might as well have to prove me wrong". Plus, I figured if 1.0002 was broke overnight, it probably wouldn't be from a spike, which would mean to me that's it was heading lower by 50+ pips.

I trade with 2 stops basically. The first one is the one I post here, and the second one is where I admit I'm wong about the whole thing and give up on the trade entirely. But with playing with 2 stops, I can usually save myself some pips.
  • #3,010
  • Aug 2, 2012 8:02am Aug 2, 2012 8:02am
Quoting Zappa
Yeah, for many years I've had a ridiculous amount of trades get stopped at precisely the reversal point and then watched in amazement as the trade went where I thought it would only without me.

My stop placement goes back to post #2980. Sometimes I make the mistake of moving my stop closer before it has really had lift-off. I changed my stop this morning back to .9990 because I thought, "what the hell, if I'm going to get stopped it might as well have to prove me wrong". Plus, I figured if 1.0002 was broke overnight, it probably wouldn't...
Yep i understand,very soon bro you can just turn puter off for few weeks,months check back around christmas Im thinking
we have been now beginning 11 months within sept 11 bar something gotta give
"Millionaires don't use astrology, billionaires do"
  • #3,011
  • Aug 2, 2012 8:10am Aug 2, 2012 8:10am
Quoting OrionsWay
Yep i understand,very soon bro you can just turn puter off for few weeks,months check back around christmas Im thinking
we have been now beginning 11 months within sept 11 bar something gotta give
If you look at it from a weekly chart and a daily chart you can see a massive build-up of longs. It's been it a fairly tight range for some time now. The rise from Nov. 2011 was explosive and I can see a similar rise taking place from here. I don't know if we'll head straight up through the high at 1.3050 or not, but I do think an easy target is 1.1127 and 1.1700 doesn't seem far-fetched either.
  • #3,012
  • Aug 2, 2012 8:17am Aug 2, 2012 8:17am
Quoting GnarlyPips
The next two days of USD news is pretty interesting. We could potentially see a triple bottom, or a pullback to the .0020 area, on Thursday. On Friday, we either get good new or bad news. For the charts, I see high probability for price to move up, so I'm hoping for good news.

Not always right with the time aspect of things, but I'm getting a lot more confident in myself. Got knocked out of my long by one single pip. 1.00011. So I went to AUDCAD and got me 40 pips. Too bad, I should've gone the Sterling.
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Play the players, not the cards.
  • #3,013
  • Aug 2, 2012 8:26am Aug 2, 2012 8:26am
Quoting Zappa
If you look at it from a weekly chart and a daily chart you can see a massive build-up of longs. It's been it a fairly tight range for some time now. The rise from Nov. 2011 was explosive and I can see a similar rise taking place from here. I don't know if we'll head straight up through the high at 1.3050 or not, but I do think an easy target is 1.1127 and 1.1700 doesn't seem far-fetched either.

We've got 24 months to decide if its a triangle, zigzag or a wave 2 off the Lo lo. lots of time


BUT then again could take until this time next year to fullfill the bottom (shrugs)
"Millionaires don't use astrology, billionaires do"
  • #3,014
  • Aug 2, 2012 8:40am Aug 2, 2012 8:40am
Quoting OrionsWay
We've got 24 months to decide if its a triangle, zigzag or a wave 2 off the Lo lo. lots of time


BUT then again could take until this time next year to fullfill the bottom (shrugs)
Hahaha...true, although zig zags, EW, triangles, all that stuff is just a bunch of crap to me. I used to be so fascinated with drawing lines, pitchforks, etc. and I'd be amazed at how accurate they were until I tried for quite some time to actually implement them into predicting the market. You'll see a market bounce off a line and think, "OK, this is it right here." Next thing you know it's made another low/high and broken that spot. Then it bounces again off another line, and again you say, "Aha! So THIS is the line it wanted to bounce off of!". But soon enough the spot is broken again and this goes on and on. Patterns aren't much more helpful in my opinion. Sometimes they work, sometimes they don't. What the hell good is that?

Anyways, got on a little tangent there, sorry.
  • #3,015
  • Aug 2, 2012 8:47am Aug 2, 2012 8:47am
Quoting Zappa
Hahaha...true, although zig zags, EW, triangles, all that stuff is just a bunch of crap to me. I used to be so fascinated with drawing lines, pitchforks, etc. and I'd be amazed at how accurate they were until I tried for quite some time to actually implement them into predicting the market. You'll see a market bounce off a line and think, "OK, this is it right here." Next thing you know it's made another low/high and broken that spot. Then it bounces again off another line, and again you say, "Aha! So THIS is the line it wanted to bounce off...
LOL well ya your right BUT price is irrelevant anyways. Time is the factor for all things under the sun in this realm we live. That being said Orderflow in conjunction with all the above stuff gives us great clue's to whether a particular sup/res price will hold or not anyways. Ya i traveled blind before as well, then i decided to try and understand what a market really is.
"Millionaires don't use astrology, billionaires do"
  • #3,016
  • Aug 2, 2012 9:15am Aug 2, 2012 9:15am
Quoting OrionsWay
LOL well ya your right BUT price is irrelevant anyways. Time is the factor for all things under the sun in this realm we live. That being said Orderflow in conjunction with all the above stuff gives us great clue's to whether a particular sup/res price will hold or not anyways. Ya i traveled blind before as well, then i decided to try and understand what a market really is.

Well, I'm no expert on Astro stuff, but I had a guy who was, by all accounts a man who had definitely done his homework when it came to Gann and astrology, teach me for a while. What I noticed was that there were tons of time lines, and yeah, some of them converged and that was supoosed to make them more powerful. So you'd have a time line that meant reversal or strong continuation, but then a short time thereafter you'd have another timeline, and then 10 more or the not-so-distant future. I couldn't figure out how in the hell to get it to work, and it didn't seem like my expert teacher could either. Sure, he could tell you all you ever wanted to hear about Gann, but he sure didn't seem to do very well when it actually came to making money or actually getting the time right! Lol


To me, those charts just seem like a pretty picture that makes people feel smart for knowing how to draw, but don't really offer much help. But that's just me. If anyone can get it to work for them, then more power to em'!
  • #3,017
  • Aug 2, 2012 10:12am Aug 2, 2012 10:12am
I wait 1,0445 as tp ! ahah
  • #3,018
  • Aug 2, 2012 10:18am Aug 2, 2012 10:18am
first we need to close above 54..cuz every time it goes above that she comes back down asap-for me it seems like we are not goin over it and will drop to 0.9 level soon.
Im long from 1.0030 SL BE waiting for break upside
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #3,019
  • Aug 2, 2012 10:54am Aug 2, 2012 10:54am
Quoting Zappa

To me, those charts just seem like a pretty picture that makes people feel smart for knowing how to draw, but don't really offer much help. But that's just me. If anyone can get it to work for them, then more power to em'!
well not sure about you BUT where we went and why we stopped was no big suprise to me, and even today's hi res area its right there in the blue print mapped out for quite some time now, where were going not much a mystery either really, Probably wont be fast enough for most everyone though i would bet on that everyday all day long
The lines do look pretty though dont they
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"Millionaires don't use astrology, billionaires do"
  • #3,020
  • Aug 2, 2012 11:06am Aug 2, 2012 11:06am
Quoting OrionsWay
well not sure about you BUT where we went and why we stopped was no big suprise to me, and even today's hi res area its right there in the blue print mapped out for quite some time now, where were going not much a mystery either really, Probably wont be fast enough for most everyone though i would bet on that everyday all day long
The lines do look pretty though dont they
I respect your work and like I said, if you know how to use this to your advantage then more power to you. With that said, how do you know which line it will reverse off of and how far it will go? You've said you are in this pair long-term with a huge stop, are you scalping it too? How does your thought process work while looking at this chart, if you don't mind me asking?
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