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USD/CAD

  • #3,361
  • Oct 5, 2012 2:14pm Oct 5, 2012 2:14pm
If close > 9800, long would be safe ! I'll keep open overnight.
Don't be smart. Be rich.
  • #3,362
  • Oct 5, 2012 2:18pm Oct 5, 2012 2:18pm
U/Cad going down the shitter found LT support @ uranus
"Millionaires don't use astrology, billionaires do"
  • #3,363
  • Oct 5, 2012 2:19pm Oct 5, 2012 2:19pm
- U/C & USD/CHF M5:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UC M5.png Size: 13 KB
Click to Enlarge Name: U swiss m5.png Size: 15 KB
  • #3,364
  • Oct 5, 2012 2:19pm Oct 5, 2012 2:19pm
Quoting OrionsWay
U/Cad going down the shitter found LT support @ uranus
No worries, all ready 60 pips in the pocket, it's a bonus.
Don't be smart. Be rich.
  • #3,365
  • Oct 5, 2012 2:20pm Oct 5, 2012 2:20pm
Quoting maximinus
No worries, all ready 60 pips in the pocket, it's a bonus.
Nice trades max think things just getting going
"Millionaires don't use astrology, billionaires do"
  • #3,366
  • Oct 5, 2012 2:21pm Oct 5, 2012 2:21pm
Ziko good chart, that's why I prefer a close > 9805.
Don't be smart. Be rich.
  • #3,367
  • Oct 5, 2012 2:22pm Oct 5, 2012 2:22pm
Quoting OrionsWay
Nice trades max think things just getting going
Thanks Orion.
Don't be smart. Be rich.
  • #3,368
  • Oct 5, 2012 2:27pm Oct 5, 2012 2:27pm
Quoting maximinus
Ziko good chart, that's why I prefer a close > 9805.
- Thanks Maximinus, It really recover up so fast and we already taken out 38.2 fibo level.

- GL.
Attached Image (click to enlarge)
Click to Enlarge Name: UC H1.png Size: 25 KB
  • #3,369
  • Oct 5, 2012 2:37pm Oct 5, 2012 2:37pm
Quoting Ziko9o8
- Thanks Maximinus, It really recover up so fast and we already taken out 38.2 fibo level.

- GL.
Seems that it will close >9800 but if I ask a close >9810 the 50%, you would say I ask too much
Don't be smart. Be rich.
  • #3,370
  • Oct 5, 2012 3:28pm Oct 5, 2012 3:28pm
Quoting maximinus
Seems that it will close >9800 but if I ask a close >9810 the 50%, you would say I ask too much
Don't love the hourly candle
Attached Image
Don't be smart. Be rich.
  • #3,371
  • Oct 6, 2012 11:12am Oct 6, 2012 11:12am
So I have a partial position from .9760 (a little too early). But not a terrible set up either into next week...

Chart: USD/CAD 4H
Long or Short: Short
Entry Point: .9805 (1/2 position) and .9850 (1/2 position)
Stop Loss: .9890
Profit Target: .9735

Trade Explanation: .9805 and .9850 are both historically strong support levels (psychologically and technically) and the upward bull channel from the .9630 low has been broken. .9805 is also the recent 50.0 fib level. The .9730 area was previous strong resistance as well as last weeks low - profit take in this area until a break or bounce. Fundamentally, the CAD should continue to gain against the greenback as we continue to see north american job, housing and manufacturing numbers improve. The US bond buying should depress the USD while the continued slow recovery increases demand for US imports (i.e. increased Canadian manufacturing and commodity exports).

http://charts.mql5.com/1/19/usdcad-h...are-corp-2.png
  • #3,372
  • Oct 7, 2012 12:18am Oct 7, 2012 12:18am
Quoting Rknigh2
So I have a partial position from .9760 (a little too early). But not a terrible set up either into next week...

Chart: USD/CAD 4H
Long or Short: Short
Entry Point: .9805 (1/2 position) and .9850 (1/2 position)
Stop Loss: .9890
Profit Target: .9735

Trade Explanation: .9805 and .9850 are both historically strong support levels (psychologically and technically) and the upward bull channel from the .9630 low has been broken. .9805 is also the recent 50.0 fib level. The .9730 area was previous strong resistance as well as last weeks low - profit...
All nice and clean and logical on your part which is exactly why I am long from 9760 98 9810 9821
Because trading does not necessarily follow TA
In trading, you have to be defensive and aggressive at the same time
  • #3,373
  • Oct 10, 2012 4:52pm Oct 10, 2012 4:52pm
It's been a nice rally up. Who else is long? Any signs of reversing?
  • #3,374
  • Oct 10, 2012 10:14pm Oct 10, 2012 10:14pm
Well we're now bumping up against the top of the descending trendline and well within the bear channel. Also a potential bearish flag pattern has developed, which may, at the very least, signal taking some profits off the table.

Having said that, fundamentally there is a general negative sentiment in the markets, which is almost always USD positive. That may be enough to break this triangle and take a run above .9850.

Personally, I would rather continue to add shorts while the .9850 resistance and long term bear channel is still intact. If the bear channel breaks there will be lots of opportunity to make pips after a confirmed bullish breakout/reversal.
  • #3,375
  • Oct 10, 2012 11:51pm Oct 10, 2012 11:51pm
Right now USD/CAD is dead centre of the hourly bullish channel heading down but I'll be waiting for it to hit the upper limit of the bearish channel on the daily charts (which will probably be 0.98350 if it remains in the hourly channel) before I think about taking a short position on this pair. Going long wouldn't make sense to me until it hits the bottom of the hourly bull channel, and even then I can't see the advantage of a long USD/CAD position for what will be at most another 50 pips when there are other pairs with more attractive moves to take advantage of.
You can always make money tomorrow provided you don't lose it today.
  • #3,376
  • Oct 11, 2012 3:59am Oct 11, 2012 3:59am
Hi, everybody. I've found rather useful analytic and would like to check it. Here is: BUY If the pair breaks the level 0.98267 bullish movement will begin. The closest aim of such movement will become the level 0.98419 with the possibility of following move up to the level 0.98572. SELL If the pair breaks the strong support level 1.97961 bearish movement will start. The closest aim of movement will become the level 0.97809 with the possibility of following move down to the level 0.97656. Well, guys. What do you think about this Have a great trading.
  • #3,377
  • Oct 11, 2012 9:06am Oct 11, 2012 9:06am
this pair is waste of time eurusd is much better
  • #3,378
  • Oct 12, 2012 3:24am Oct 12, 2012 3:24am
BUY If the pair breaks the level 0.97885 bullish movement will start. The closest target of such movement will become the level 0.98267 with the At the strong resistance level 0.97961 an obstacle could be met. SELL If the pair breaks the level 0.97656 bearish movement will continue. The closest target of such movement will become the level 0.97504 with the possibility of following move down to the level 0.97354. http://www.accentforex.com/images/_a...10.11.2012.gif Have a good trading.
  • #3,379
  • Oct 12, 2012 4:31am Oct 12, 2012 4:31am
Quoting candle779
BUY If the pair breaks the level 0.97885 bullish movement will start. The closest target of such movement will become the level 0.98267 with the At the strong resistance level 0.97961 an obstacle could be met. SELL If the pair breaks the level 0.97656 bearish movement will continue. The closest target of such movement will become the level 0.97504 with the possibility of following move down to the level 0.97354. Have a good trading.
Based on what? All you've shown is support/resistance levels on an hourly chart from a day before you made your post. USD/CAD is decending in a bullish channel on the hourly chart inside a bearish channel on the daily charts. RSI has remained under bearish resistance on both the daily and hourly, and MACD is indicating a bearish transition on the daily and is neutral on the hourly.

I don't know what kind of strategy you are implementing, but I wouldn't enter or exit a position without a confluence of indicators to support my decisions.

At the moment, if it breaks below 0.9765, the 78.4% Fibonacci retracement of the last completed move, which corresponds with the bottom of the congestion zone, it will also have confirmed a break below the hourly bull channel support line which is at about 0.9775 at this point. Since you are using an hourly chart I presume you are interested in small scalps, in which case I would be comfortable taking a short at 0.9775 with a stop at 0.97825, then once 0.97625 is hit, add another short at 0.9650 as 0.9765 will have then become resistance and will likely be retested, moving my stop to 0.9775.

If this play doesn't work out, particularly if bull channel support on the hourly chart isn't breached, I will assume the resistance line of the bearish channel on the daily chart will be retested, which will likely be in the vicinity of 0.9825 by the time it's intercepted by the price action.
You can always make money tomorrow provided you don't lose it today.
  • #3,380
  • Oct 16, 2012 2:14pm Oct 16, 2012 2:14pm
Closed my position today with 400 pips profit. That was a nice ride indeed...

Quoting JosV
It's been a nice rally up. Who else is long? Any signs of reversing?
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