USD/CAD | Page 153 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

USD/CAD

Similar Threads

EUR/GBP, EUR/USD, GBP/USD, AUD/USD, CAD, NZD, JPY, and more... 15 replies

Milking 4 pairs AUD/NZD, EUR/GBP,NZD/CAD & AUD/CAD for a living 38 replies

EUR/USD, AUD/USD, and CAD/USD ready to move up 2 replies

USD/JPY - USD/CAD any thoughts? 4 replies

CAD export / USD/CAD price 3 replies

Attachments: USD/CAD
Exit Attachments

USD/CAD

  • #3,041
  • Aug 8, 2012 9:04am Aug 8, 2012 9:04am
1h and 4h is showing some bullish divergence.

But we just got another lower low on the hourly. TP'd half. Looking for a test of .9925.
  • #3,042
  • Aug 8, 2012 9:08am Aug 8, 2012 9:08am
up 0,9979 next level 1,0010

down 0,9950
  • #3,043
  • Aug 8, 2012 9:24am Aug 8, 2012 9:24am
Quoting Rknigh2
1h and 4h is showing some bullish divergence.
Sorry, I don't see any sign of bull divergence ???
Don't be smart. Be rich.
  • #3,044
  • Aug 8, 2012 9:32am Aug 8, 2012 9:32am
Quoting maximinus
Sorry, I don't see any sign of bull divergence ???
It's weak. But just helps illustrate the slowing momentum.

Attached Image (click to enlarge)
Click to Enlarge Name: BD.jpg Size: 536 KB
  • #3,045
  • Aug 8, 2012 9:41am Aug 8, 2012 9:41am
Quoting Rknigh2
It's weak. But just helps illustrate the slowing momentum.
Thank you.
Don't be smart. Be rich.
  • #3,046
  • Aug 8, 2012 9:54am Aug 8, 2012 9:54am
Hmmm. Next level to try a long is 0.9893.
  • #3,047
  • Aug 8, 2012 9:58am Aug 8, 2012 9:58am
It might want to take out any stops from this highlighted low.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 27 KB
  • #3,048
  • Aug 8, 2012 9:59am Aug 8, 2012 9:59am
My last limit (hope ?) in M30 chart. After that, it's good for a free fall.
Attached Image (click to enlarge)
Click to Enlarge Name: cad30m.gif Size: 21 KB
Don't be smart. Be rich.
  • #3,049
  • Aug 8, 2012 10:07am Aug 8, 2012 10:07am
Honestly, the fact that price was just glued to this line for so long gave me doubts about going long. Obviously not enough doubt, but I try not to put a ton of weight into drawn lines. Plus, there was the trendline from the lows on 07/26/11 and 04/27/12 that we tested today and they barely ever seem to hold up, especially if price DOESN'T spike in to them.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 23 KB
  • #3,050
  • Aug 8, 2012 10:08am Aug 8, 2012 10:08am
If you go back to the last time we were in this area (April) there were approximately 5 out of the 20 trading days that bounced off the .9920-.9930 level. Looks like a significant level until we get down to the .9890 and .9800 lows.
  • #3,051
  • Aug 8, 2012 10:09am Aug 8, 2012 10:09am
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad2.jpg Size: 111 KB
  • #3,052
  • Aug 8, 2012 10:15am Aug 8, 2012 10:15am
Agree with you two. I'm really pessimist for my long. Just waiting for the release of 10year bond data or for a clear break of my 30m tl.
I'll not hesitate to cut with losses and damages if the datas are bad for us.
That's the game !
Don't be smart. Be rich.
  • #3,053
  • Aug 8, 2012 10:22am Aug 8, 2012 10:22am
Quoting maximinus
Agree with you two. I'm really pessimist for my long. Just waiting for the release of 10year bond data or for a clear break of my 30m tl.
I'll not hesitate to cut with losses and damages if the datas are bad for us.
That's the game !
I like long positions at these levels as long as I had the margin to see it through for a few months.

In my eyes, CAD is still benefiting from the sidelined cash and the "risk on".

So either we go into another panic "risk off" - USD jumps. Or we continue to see normal growth and normal market reactions and USD grows from good news in the housing and job markets (med -long term). But that's just me
  • #3,054
  • Aug 8, 2012 10:27am Aug 8, 2012 10:27am
Quoting Rknigh2
I like long positions at these levels as long as I had the margin to see it through for a few months.

In my eyes, CAD is still benefiting from the sidelined cash and the "risk on".

So either we go into another panic "risk off" - USD jumps. Or we continue to see normal growth and normal market reactions and USD grows from good news in the housing and job markets (med -long term). But that's just me
I've got enough margin to sit tight :-D The waiting game begins.
  • #3,055
  • Aug 8, 2012 10:29am Aug 8, 2012 10:29am
Quoting Rknigh2
I like long positions at these levels as long as I had the margin to see it through for a few months.
But that's just me
Thank you for your positive feelings !!! It's not a question of margin call, I've made enough green pips in scalping in and out with the kiwis this night and this morning. I just want to be stricly disciplined in cutting position, when it seems that It must be done, bcz the charts tell me to do so.
Don't be smart. Be rich.
  • #3,056
  • Aug 8, 2012 10:44am Aug 8, 2012 10:44am
Quoting maximinus
Thank you for your positive feelings !!! It's not a question of margin call, I've made enough green pips in scalping in and out with the kiwis this night and this morning. I just want to be stricly disciplined in cutting position, when it seems that It must be done, bcz the charts tell me to do so.

It may one day bite me. But I'm not a huge fan of "stop losses". If I get out of a trade, I go through the exercise of taking an opposite position.

I.E. If I'm long USD/CAD right now. If I want to initiate a stop loss, I instead ask myself if I'm comfortable opening a short position here. Essentially your loss is already gone, will you make more money going long or going short from here? The other scenario is... I don't know what the hell is going on, so I'm out until there's more clarification.

I dunno, that's my process haha.
  • #3,057
  • Aug 8, 2012 11:01am Aug 8, 2012 11:01am
Quoting Rknigh2

I.E. If I'm long USD/CAD right now. If I want to initiate a stop loss, I instead ask myself if I'm comfortable opening a short position here. Essentially your loss is already gone, will you make more money going long or going short from here? The other scenario is... I don't know what the hell is going on, so I'm out until there's more clarification.
Yes, I understand what you are telling me and yes you are right also bcz it's a good place to enter long. But, to stay long, the next two bars 30m needs to close up to my TL.
See you and thanks for your inputs !
Don't be smart. Be rich.
  • #3,058
  • Aug 8, 2012 11:39am Aug 8, 2012 11:39am
Quoting Rknigh2
It may one day bite me. But I'm not a huge fan of "stop losses". If I get out of a trade, I go through the exercise of taking an opposite position.

I.E. If I'm long USD/CAD right now. If I want to initiate a stop loss, I instead ask myself if I'm comfortable opening a short position here. Essentially your loss is already gone, will you make more money going long or going short from here? The other scenario is... I don't know what the hell is going on, so I'm out until there's more clarification.

I dunno, that's my process haha.
I look at it like this. If you think it's going to go against you for a little bit before eventually turning, might as well try to get a better price. You don't need to reverse the position because the r/r isn't the same. If price happens to turn right at your stop and you don't get a better price, you bite the bullet and miss out on a a few pips. USUALLY though, you'll get a better price and be happy you exited and then re-entered.
  • #3,059
  • Aug 8, 2012 2:00pm Aug 8, 2012 2:00pm
Quoting Zappa
I look at it like this. If you think it's going to go against you for a little bit before eventually turning, might as well try to get a better price. You don't need to reverse the position because the r/r isn't the same. If price happens to turn right at your stop and you don't get a better price, you bite the bullet and miss out on a a few pips. USUALLY though, you'll get a better price and be happy you exited and then re-entered.

That is ideal. I suppose my struggle is closing out the loss and having confidence to get back in. Self-inflicted mind games haha.
  • #3,060
  • Aug 8, 2012 2:14pm Aug 8, 2012 2:14pm
Quoting Rknigh2
It may one day bite me. But I'm not a huge fan of "stop losses". If I get out of a trade, I go through the exercise of taking an opposite position.

I.E. If I'm long USD/CAD right now. If I want to initiate a stop loss, I instead ask myself if I'm comfortable opening a short position here. Essentially your loss is already gone, will you make more money going long or going short from here? The other scenario is... I don't know what the hell is going on, so I'm out until there's more clarification.

I dunno, that's my process haha....
Sounds like what I do some of the time as I'm still learning myself

I went long a little bit too early, 0.99498 .. the oil inventories kinda messed up my plan a bit but I'm waiting for parity again.

Someone else posted a USD index chart in another thread.. and so far its holding
Attached Image
13 traders viewing now