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USD/CAD

  • #3,341
  • Sep 21, 2012 1:29am Sep 21, 2012 1:29am
Quoting Davit
Went long again this time little more confident.
Market obviously rejected any lower.Fact that while Euro kept rising so did Cad says a lot.
Euro went 30 to 3160 and during this period last 12hrs Cad actually went higher!
So this is my clue that we hit bottom in short term..
new
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In trading, you have to be defensive and aggressive at the same time
  • #3,342
  • Sep 21, 2012 2:53am Sep 21, 2012 2:53am
Not trading this. But u have a formation of an inv h&s in 1m and 5mchart.
Any way the battle line is at 9740.
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Don't be smart. Be rich.
  • #3,343
  • Sep 21, 2012 9:34am Sep 21, 2012 9:34am
Interesting price right now on the USD/CAD a lot of converging patterns on multiple time frames. Short right now .9760, with a tight 10 pip SL.
  • #3,344
  • Sep 21, 2012 9:41am Sep 21, 2012 9:41am
Quoting Rknigh2
Interesting price right now on the USD/CAD a lot of converging patterns on multiple time frames. Short right now .9760, with a tight 10 pip SL.
u went short..i went long 0.9741 SL BE
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #3,345
  • Sep 21, 2012 9:44am Sep 21, 2012 9:44am
Quoting eqshack
u went short..i went long 0.9741 SL BE
Yeah it's a coin flip. I have buy and sell orders on both sides of the triangles.

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  • #3,346
  • Sep 21, 2012 9:59am Sep 21, 2012 9:59am
Ascending triangle appears to have broke. MACD 1h is going to finish above 0. Out of short at .9762.. for now...

Where's your TP Eg? Somewhere around .9780 resistance? Or on to bigger and better levels?
  • #3,347
  • Sep 21, 2012 10:23am Sep 21, 2012 10:23am
Quoting Rknigh2
Ascending triangle appears to have broke. MACD 1h is going to finish above 0. Out of short at .9762.. for now...

Where's your TP Eg? Somewhere around .9780 resistance? Or on to bigger and better levels?
my tp is 0.9945 - long way to go cuz first we gotta cross daily pivot 0.9776.But i think she dont want to go lower then 0.9730
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #3,348
  • Sep 21, 2012 11:24am Sep 21, 2012 11:24am
Here is the partial results of the live trading call which i gave on thursday on USDCAD. This trade is still open.

http://www.forexmindgames.com/2012/0...rt-usdcad.html

Reasons for taking this trade?
•Previous swing low 0.9800-20 on the daily chart on 30th April 2012.
•0.9800-20 should act as resistane level once USDCAD crosses below it.
•Any rebound up to re-test 0.9800-20 should be a good signal to go short.

http://i47.tinypic.com/25805r8.png

I took partial profits and brought my stop loss to breakeven. Hope to let it run and hit my target profit price.

http://i45.tinypic.com/33jmusx.png
  • #3,349
  • Sep 23, 2012 9:16am Sep 23, 2012 9:16am
4H chart shows a hidden bullish divergence wich could bring the price to retest 0.9840 (Resistance and 0.618 of fibonacci extencion) before a new short..

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What do you think?
  • #3,350
  • Sep 24, 2012 3:54am Sep 24, 2012 3:54am
Quoting eqshack
my tp is 0.9945 - long way to go cuz first we gotta cross daily pivot 0.9776.But i think she dont want to go lower then 0.9730
damn we doin good brah.
Yeah resistance is 0.9830-38 area-lets see if we go above that then we are good.Trend changer
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #3,351
  • Sep 24, 2012 4:12am Sep 24, 2012 4:12am
Quoting eqshack
damn we doin good brah.
Yeah resistance is 0.9830-38 area-lets see if we go above that then we are good.Trend changer
9844 but won't be too hard to break imo

UC H4:
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Don't be a hero. Don't have an ego. Always question yourself
  • #3,352
  • Sep 24, 2012 8:43am Sep 24, 2012 8:43am
- Lonnie & Fiber M1:
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  • #3,353
  • Sep 24, 2012 4:03pm Sep 24, 2012 4:03pm
There is some decent bearish divergence on the 4h now. The .9820 has held again. But we are still well within this new bullish channel. A break out of the channel as the MACD crosses below the 0 would be a nice short opportunity (or a few closes above .9840).

Overall, still bearish USD/CAD as long as the .9840 holds.

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  • #3,354
  • Sep 25, 2012 10:17am Sep 25, 2012 10:17am
If your bias is long USD/CAD, I'd be picking up positions between here (.9765 and .9745).

Just be aware that we have had a number of days of "risk-off", and there doesn't appear to be any real bad news on the horizon. We very well may see some bull market rallies this week and/or into next week (negative USD). Therefore, we could see a break of this upward USD/CAD channel and another test below .9700.


PS. The 4h MACD looks like it will close below the 0 line after the bearish divergence. As well, a close below .9775 today will put a nice round top on the daily MACD with the price near the top of the bear channel. (i.e. USD/CAD is looking ripe for a move down)
  • #3,355
  • Oct 3, 2012 1:48am Oct 3, 2012 1:48am
overhead resistance 9880/9900. will look for retest
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  • #3,356
  • Oct 4, 2012 9:32am Oct 4, 2012 9:32am
Anyone thinks the USD/CAD will fall further in the months to come after the FOMC meeting today if the FED hints at further stimulus? Gov Council Member Macklem earlier did say that the BOC might reduce monetary stimulus in the future. I saw the CAD strengthen after that speech.
  • #3,357
  • Oct 4, 2012 10:03am Oct 4, 2012 10:03am
Quoting [Sniper]
Anyone thinks the USD/CAD will fall further in the months to come after the FOMC meeting today if the FED hints at further stimulus? Gov Council Member Macklem earlier did say that the BOC might reduce monetary stimulus in the future. I saw the CAD strengthen after that speech.
Yes, if the FED hints at more easing the daily candle is going to one monster of a red bar.
  • #3,358
  • Oct 5, 2012 8:09am Oct 5, 2012 8:09am
Previous support/resistance at .9730's looks to be holding right now (38.2 fib level also).

Would like to add another short around .9760 (50.0 fib level).
  • #3,359
  • Oct 5, 2012 9:01am Oct 5, 2012 9:01am
Missed the date @9740 Got a second chance so don't want to miss it.
Long for testing the water.
Don't be smart. Be rich.
  • #3,360
  • Oct 5, 2012 1:03pm Oct 5, 2012 1:03pm
Long since 9670 with additional positions 9730 and 9750 and not letting go till this sucker hits 9950. If it closes actually just a few pips higher, we will have a pretty sweet price rejection bar on the daily.
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