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USDCAD trend reversal?

  • #4,301
  • Aug 9, 2012 2:16pm Aug 9, 2012 2:16pm
Small long UCAD @ 0.9915, will add more when it goes towards 0.9800 support
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  • #4,302
  • Edited 6:42pm Aug 11, 2012 5:50pm | Edited 6:42pm
Quoting KillerWhale
Small long UCAD @ 0.9915, will add more when it goes towards 0.9800 support
Took 40 pips profit on this last one, but I will wait for a bit more push down to enter bigger long.

9850 and 9800 are good supports
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  • #4,303
  • Aug 12, 2012 6:42am Aug 12, 2012 6:42am
Seems no-one is interested anymore in trading ucad.
What a waist of pips that could be gained.
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  • #4,304
  • Aug 12, 2012 7:51am Aug 12, 2012 7:51am
Quoting KillerWhale
Took 40 pips profit on this last one, but I will wait for a bit more push down to enter bigger long.

9850 and 9800 are good supports
Yes, I have the same idea, I am going to have a medium-term to long-term setup for usdcad, maybe next week.
  • #4,305
  • Aug 27, 2012 12:49pm Aug 27, 2012 12:49pm
Support now @ 0.9890
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  • #4,306
  • Aug 28, 2012 11:03pm Aug 28, 2012 11:03pm
We had double bottom at .9844, is there any chance of trend reversal?
  • #4,307
  • Aug 30, 2012 3:27am Aug 30, 2012 3:27am
Quoting D4pips
We had double bottom at .9844, is there any chance of trend reversal?
Yes
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  • #4,308
  • Sep 19, 2012 6:18pm Sep 19, 2012 6:18pm
shot right throught the double bottom theory. possible reverse h&s.
  • #4,309
  • Sep 19, 2012 8:24pm Sep 19, 2012 8:24pm
Personally I am long the USD/CAD (I bought at 0.9698), the reversal to the upside is way way overdue now...
  • #4,310
  • Sep 19, 2012 8:56pm Sep 19, 2012 8:56pm
Or we get a nice slow continuation of this bear trend for another 8 months and test the .9400 lows (remember 2010 anyone?)...

The thing with large upsides... you can afford to miss the first move (or two).
  • #4,311
  • Sep 19, 2012 9:06pm Sep 19, 2012 9:06pm
Quoting Rknigh2
Or we get a nice slow continuation of this bear trend for another 8 months and test the .9400 lows (remember 2010 anyone?)...

The thing with large upsides... you can afford to miss the first move (or two).
Sure, anything is possible, but with all these support lines just waiting down the line, I doubt it.

But again, it all depends on your time frame.
  • #4,312
  • Sep 19, 2012 10:50pm Sep 19, 2012 10:50pm
The USD/CAD is on steroids tonight, almost 70 pip profit and still counting, time to lighten up my position and move the stop to break-even...
  • #4,313
  • Sep 20, 2012 2:42pm Sep 20, 2012 2:42pm
That was a nice little move up. Mostly from Japanese bond buying announcement? A little currency warring going on...

I wish I pulled the trigger on the .9800 short... but either way, we're getting a nice shooting star forming on the daily chart right in the middle of the 4 month bear channel as we get close to NY close. Not to mention, the equities seem to have recovered into positive territory.

A perfect storm of risk-on indicators? CAD might see some good gains tomorrow...
  • #4,314
  • Sep 28, 2012 7:55pm Sep 28, 2012 7:55pm
For October:

UCAD long
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  • #4,315
  • Sep 28, 2012 7:57pm Sep 28, 2012 7:57pm
Quoting KillerWhale
For October:

UCAD long
Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: uc 4 hr 09-28-12.gif Size: 29 KB
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  • #4,316
  • Edited 9:25am Sep 29, 2012 8:32am | Edited 9:25am
Thank you KillerWhale. I was looking for something which would come from you and finally you said it as it also looks like developing uptrend channel to me.
  • #4,317
  • Sep 29, 2012 9:19pm Sep 29, 2012 9:19pm
Quoting D4pips
Thank you KillerWhale. I was looking for something which would come from you and finally you said it as it also looks like developing uptrend channel to me.
Too bad so few people are interested in this thread
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  • #4,318
  • Sep 30, 2012 2:54pm Sep 30, 2012 2:54pm
Quoting KillerWhale
Too bad so few people are interested in this thread
You are absolutely right. I am looking for opportunities to long this pair. Waiting for a clear break of 9850-9860 area on 4Hr and I will go in heavy. Here is what I see.

PS: This is a demo account where I take counter trades just to do my own personal analysis. Pls ignore
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 19 KB
  • #4,319
  • Sep 30, 2012 2:56pm Sep 30, 2012 2:56pm
Quoting wolve
You are absolutely right. I am looking for opportunities to long this pair. Waiting for a clear break of 9850-9860 area on 4Hr and I will go in heavy. Here is what I see.

PS: This is a demo account where I take counter trades just to do my own personal analysis. Pls ignore
Cad longs are near record highs. Here is the CFCT data:

CAD net +105K vs +112K prior

One more reason in my book to long this pair.
  • #4,320
  • Sep 30, 2012 4:22pm Sep 30, 2012 4:22pm
In my opinion, before any long position, price has to go beyond the supply zone @ 0,9910 (Where also pass the EMAs on different TF)
May be that it will rebound at .9910, retest 0,9840 and then go higher..

Here is my chart
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.png Size: 54 KB


But, we have to considerate that we could be in a longterm range market and price's going to the bottom of it as shown in the following chart

Attached Image (click to enlarge)
Click to Enlarge Name: ucad.png Size: 67 KB
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