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USD/CAD

  • #3,201
  • Aug 19, 2012 10:14pm Aug 19, 2012 10:14pm
Looking for it to go down, right about now, so I can get in at a lower price, before going long. Let price come to me, instead of chasing it.
Time turns trend. - W.D. Gann
  • #3,202
  • Aug 19, 2012 11:09pm Aug 19, 2012 11:09pm
Quoting ForExtraPips
Looking for it to go down, right about now, so I can get in at a lower price, before going long. Let price come to me, instead of chasing it.
You are right. Let the price comes to us. I had chased many times, and most times i got burned.
  • #3,203
  • Aug 20, 2012 12:38am Aug 20, 2012 12:38am
Quoting ForexMGames
You are right. Let the price comes to us. I had chased many times, and most times i got burned.
Oh, yes. Been there, done that. That's why now, I do my homework, put the order in, and let it do its stuff. Buy limit on E/U, sell limit on U/J, and buy limit on this pair. GL
Time turns trend. - W.D. Gann
  • #3,204
  • Edited 6:31pm Aug 20, 2012 8:15am | Edited 6:31pm
Gone short again at .9895, TP target .9875. 15min showing a short term reversal back down again. 1h and daily are looking more like a bullish reversal though. I'm expecting mostly sideways until wednesday though.
  • #3,205
  • Aug 21, 2012 8:22am Aug 21, 2012 8:22am
Looks like the EUR/USD hammered the USD across all pairs this morning.

Two things to be noted. USD/CAD has hit resistance below the .9860 level again, and the relatively short move (compared to EUR/USD) suggests/confirms the CAD is over bought.

I would still be a bit nervous going long USD/CAD in the short/medium term, but I'm also taking my short money to other pairs until we see a .9800 break or a bounce to .9950 with some consolidation.
  • #3,206
  • Aug 21, 2012 9:18am Aug 21, 2012 9:18am
Quoting Rknigh2
Looks like the EUR/USD hammered the USD across all pairs this morning.

Two things to be noted. USD/CAD has hit resistance below the .9860 level again, and the relatively short move (compared to EUR/USD) suggests/confirms the CAD is over bought.

I would still be a bit nervous going long USD/CAD in the short/medium term, but I'm also taking my short money to other pairs until we see a .9800 break or a bounce to .9950 with some consolidation.

i hear you but not jumping in long until i see something more definite as a break, alot of strange moves lately
Money never sleeps...
  • #3,207
  • Aug 21, 2012 11:14am Aug 21, 2012 11:14am
Reversal may not be confirmed until early next week. It may test 0.9800 this week.
  • #3,208
  • Aug 21, 2012 12:12pm Aug 21, 2012 12:12pm
Well I lied... looking to short again at this .9875. Will wait for a turn on the 15min Macd though. TP will be .9860. 1h hour MACD shot postive after the .9840 bounce which makes me a little nervous, but it probably burned up the momentum during the bounce.

Wait and see... wait and see.
  • #3,209
  • Aug 21, 2012 1:38pm Aug 21, 2012 1:38pm
So did any of you longs get in at the bounce? Still waiting for a slow down for another short. .9880-.9890 should be interesting.
  • #3,210
  • Aug 21, 2012 3:56pm Aug 21, 2012 3:56pm
Did I mention 30 should not be hit?

Was a nice, solid rally off the low. That better be the low cause if it's not the next low will probably touch 30 and I'll be bowing out of this pair for awhile.

I'm still more focused (in pos. size) in AUDJPY. I expect big things out of this pair more than any other. Anybody in that pair with me?
  • #3,211
  • Aug 21, 2012 6:35pm Aug 21, 2012 6:35pm
Zzz... This pair is really slow. I am still holding my previous long position @0.989 .... hope it will go above 1 soon in the next couple of days. Most indicators are showing bullish sign though.
  • #3,212
  • Aug 21, 2012 8:53pm Aug 21, 2012 8:53pm
I'm drinking the gatorade and bought more @ 9850 .. so my original 9950 position right now is covered at break even.. but im going for the kill!



GrrrRrrrrr!

lowest draw down possible please.
  • #3,213
  • Aug 22, 2012 12:59am Aug 22, 2012 12:59am
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_h4_22.08.12.jpg Size: 135 KB
  • #3,214
  • Aug 22, 2012 10:08am Aug 22, 2012 10:08am
Quoting SlyQsx
Attachment
Attachment
Nice charts. We hit 99460 so I guess it is still under the next trend line.

I think in 3 hours when FOMC meeting minutes are released we'll know for sure QE3 won't happen (I don't see why it would?) and that would give dollar a nice rally.

Also checked out your blog, another pole! cool. dzien dobre!
  • #3,215
  • Aug 22, 2012 12:43pm Aug 22, 2012 12:43pm
guys newbie question, if QE3 doesnt happen this pair is to go up or down?
regards
  • #3,216
  • Aug 22, 2012 1:24pm Aug 22, 2012 1:24pm
Quoting fasy007
guys newbie question, if QE3 doesnt happen this pair is to go up or down?
regards
QE = printing more money = weaker dollar as its flooded with more..

so as you can see by now u/cad would go down.

Seems they have been saying QE3 for awhile now so it was only a knee-jerk reaction.
  • #3,217
  • Aug 22, 2012 9:09pm Aug 22, 2012 9:09pm
so since QE3 is more likely to act now, how many pips could this pair go down by the effect of printing bills? does anyone know, from the past experience, how long would it usually take for the dollar to regain strength if QE3 really does happen. I'm a new trader, so I would like to know the possible consequences. Appreciate your help.
  • #3,218
  • Aug 23, 2012 10:21am Aug 23, 2012 10:21am
I would feel comfortably with long USD/CAD if it reaches 0,9800, it should be strong support level.
  • #3,219
  • Aug 23, 2012 11:16am Aug 23, 2012 11:16am
This isn't really a reply to the content in this thread but it does concern the USD/CAD pair.
I'm used to triple rollover always being on Wednesday. Yesterday I was in a USD/CAD long position and rollover came and went and I only got credited a single day. When calling the broker desk he told me that it was tomorrow (being today). I found the DailyFX calendar but it makes no sense to me. I doesn't seem to tell which pair is on which day.
Is there a place to find this information? One of my strategies is working the triple rollover.
I'm new here ... Thanks to all.
  • #3,220
  • Aug 23, 2012 11:40am Aug 23, 2012 11:40am
Close to my original entry on Aug8th (9950), and my long from 9850 is a nice 80+ points

I'm holding on to this one for some time..
lowest draw down possible please.
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