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USD/CAD

  • #3,701
  • May 26, 2013 6:41pm May 26, 2013 6:41pm
Quoting 50 Fils
{quote}My bias would be that the pair will go give a visit first to 1.0417, but then it will go into a reversal
No idea how you come up with that number, it's 1.0445 where the bounce will be.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #3,702
  • May 26, 2013 6:56pm May 26, 2013 6:56pm
Quoting KillerWhale
{quote}No idea how you come up with that number, it's 1.0445 where the bounce will be.
It's according to a trendline on the weekly time frame! What do you think ?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD1.png Size: 12 KB
  • #3,703
  • May 26, 2013 7:07pm May 26, 2013 7:07pm
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh1.png Size: 27 KB


My target is 0480 but Killerwhale has put a doubt in my mind. PA is still up anyway. Will look for an engulf pattern at K level.
  • #3,704
  • May 26, 2013 7:08pm May 26, 2013 7:08pm
Quoting mertch
{image} My target is 0480 but Killerwhale has put a doubt in my mind. PA is still up anyway. Will look for an engulf pattern at K level.

That long at the bottom looks great bro, great stuff, hope its a decent size trade for you
Money never sleeps...
  • #3,705
  • May 26, 2013 7:26pm May 26, 2013 7:26pm
Quoting inpatient
{quote} That long at the bottom looks great bro, great stuff, hope its a decent size trade for you
Not that much, I'm still an unfortunate trader. Only 1L below.
  • #3,706
  • May 27, 2013 12:30am May 27, 2013 12:30am
Quoting 50 Fils
{quote}It's according to a trendline on the weekly time frame! What do you think ? {image}
I would agree if the top from a year ago had touched your trend line.
But it has not.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #3,707
  • May 27, 2013 2:29am May 27, 2013 2:29am
Attached Image (click to enlarge)
Click to Enlarge Name: usd-cad.png Size: 62 KB
  • #3,708
  • May 27, 2013 4:17am May 27, 2013 4:17am
I like this line. This pair owes me a few bob:

https://twitter.com/TimingCharts - Shay Campbell ‏@TimingCharts 23 May
$USDCAD Nice break of the down trendline dating back to Nov 2011. Set-up in the making? http://stks.co/dVLy
Details
Gone to a better place
  • #3,709
  • May 27, 2013 4:36am May 27, 2013 4:36am
Just a two cent worth of opinion of mine on the USDCAD pair

In major trend, the USDCAD is set for upward movement in longer term. However, as of now, I do view this pair as a trading range of 1.0050 to 1.0400, of which now the bear force seems to be coming in place. However, the trendline is still always your best friend, and it would be more appropriate to get a LONG position for short term wise. Looking out for short position at 1.0400 level

As attached is my analysis
Please feel free to comment on it.
Attached File(s)
File Type: pdf USDCAD 26MAY.pdf   327 KB | 318 downloads
Knowledge is powerful tool that we can ever have.
  • #3,710
  • May 27, 2013 7:53am May 27, 2013 7:53am
I am inclined to believe and market could prove me wrong but before price reaches 400 1st it could retrace to at least 38.2 fib at 250
I just think this pair is "due" for correction in major way.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.h4.png Size: 40 KB
In trading, you have to be defensive and aggressive at the same time
  • #3,711
  • May 27, 2013 8:03am May 27, 2013 8:03am
Quoting rikusks
Just a two cent worth of opinion of mine on the USDCAD pair In major trend, the USDCAD is set for upward movement in longer term. However, as of now, I do view this pair as a trading range of 1.0050 to 1.0400, of which now the bear force seems to be coming in place. However, the trendline is still always your best friend, and it would be more appropriate to get a LONG position for short term wise. Looking out for short position at 1.0400 level As attached is my analysisPlease feel free to comment on it. {image}
I did take a look at your PDF.Thanks for sharing but did not get much from it since I ignore RSI and MACD totally.
In trading, you have to be defensive and aggressive at the same time
  • #3,712
  • May 27, 2013 11:42am May 27, 2013 11:42am
Quoting Davit
{quote}I did take a look at your PDF.Thanks for sharing but did not get much from it since I ignore RSI and MACD totally.
Yeah, I get that quite often as no much people used them as indicators and they tend to be a little more lagged than usual.
Knowledge is powerful tool that we can ever have.
  • #3,713
  • May 27, 2013 12:21pm May 27, 2013 12:21pm
Are there any trades for today, since its a bank holiday?
  • #3,714
  • May 27, 2013 4:47pm May 27, 2013 4:47pm
Hello all,
an updated view on the Dollar Index. The current price dynamics is very important as price could repeat last year's move (now, repeats in history are very rare, but that could still happen). Let me show you what I mean:

The 84.70 area is the first target of the 81.40 area of support that found participation at the beginning of May (corresponding to Euro’s lower low at 1.3240). The 84.70 area lines up with previous highs in the Dollar Index which could suggest profit taking from those levels. If history repeats (it rarely does though) we could see something similar to what happen last year in the Dollar Index.

Attached Image (click to enlarge)
http://www.forexfactory.com/attachment.php?attachmentid=1201482&stc=1&thumb=1&d=1369689939

The above picture shows the two current scenarios I could anticipate:

Scenario 1. Price could continue lower into the 83 area of support and then violently bounce higher into the 84.70 area of 1st target of the 81.40 long entry area. Then price could fail the next traditional measured move higher and start a series of lower lows and lower highs.

Scenario 2. After trading the 83 area, price could continues above the previous 84.70 profit level into the 85.30 area, 1st target of the 83 area long setup. If that happens profit taking could be seen at those levels (and we would deal with that at the proper time).

On my blog you can find the video explaining the scenarios I have just provided above: http://elitefive.wordpress.com/2013/...lish-language/

Let me know what you think.
Cheers

-fibstalker
"markets traded by programs/HFT offer a significant trading edge..."
  • #3,715
  • May 27, 2013 5:15pm May 27, 2013 5:15pm
My analysis shows that the price will touch 1.04172 before the end of the day (5pm ET), and then it will start a reversal ... I have a buy position open, and my TP is set at 1.0400, and then I will sell from 1.04100 ....
  • #3,716
  • May 27, 2013 8:35pm May 27, 2013 8:35pm
Added again at 1.036 and will do again every 30 pips

Steep trend line on the daily.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcaddaily.png Size: 60 KB
Money never sleeps...
  • #3,717
  • May 28, 2013 9:28am May 28, 2013 9:28am
Looks like 1.04 inbound , trade safe fellows
trade safe
  • #3,718
  • May 28, 2013 2:36pm May 28, 2013 2:36pm
Quoting tweezer
{quote} Sorry if I annoyed anyone. That was not my intention. I will stop posting about it. Safe trading everyone. {image}
I was enjoying your posts, keep them coming. Not everyone is going to agree with your opinion but I find it fascinating.

I could never get a grasp of cycles in Forex because the market is not driven by "fear and greed". Central Banks and exporters looking to hedge currency risk (the big boys) don't care about profit so I like to see what you are seeing. ;-)
Ecclesiastes 1:9
  • #3,719
  • May 28, 2013 2:56pm May 28, 2013 2:56pm
Quoting Davit
{quote}Could you please stop posting garbage about cycle and all that crap.It is highly annoying specially when you even have numbers that historically not even reached since 2008 housing crash.Post your orders or shut up about cycles.I have not seen single buy order from you!!!!
If you are not interested in someone's post, just scroll down to the next post. Easy enough. No need to be rude.

I noticed most of your posts are buy/sell recommendations. I only use my own research and don't subscribe to "signal services" so I normally don't read those types of posts. But I would never say that your posts are garbage and signal services are crap.

Forum's are for free exchange of information.
Ecclesiastes 1:9
  • #3,720
  • May 28, 2013 4:50pm May 28, 2013 4:50pm
Quoting 50 Fils
My analysis shows that the price will touch 1.04172 before the end of the day (5pm ET), and then it will start a reversal ... I have a buy position open, and my TP is set at 1.0400, and then I will sell from 1.04100 ....
TP Reached, waiting for price to reach 1.0410 for the sell to get activated! My analysis shows that this will be a good opportunity for a swing trade, I will be aiming for 400 pips from this sell!
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