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  • #3,721
  • May 28, 2013 5:44pm May 28, 2013 5:44pm
Quoting 50 Fils
{quote}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!
400 pips would take us back down to parity?


Agree this is good for swingers (such as i)but im not looking for 400 pips just maybe 150 per trade (still uncertain and will depend on the pace of any move). added again above 1.04 5 trades now in total aiming for an average of 150 pips per trade (750 pips total, posssibly more). Will add again if we see 1.043

Happy hunting guys
Attached Image (click to enlarge)
Click to Enlarge Name: usdcaddaily.png Size: 61 KB
Money never sleeps...
  • #3,722
  • May 28, 2013 7:48pm May 28, 2013 7:48pm
My sell order is now active, I will get out if the trendline that I drew in an earlier post is breached.
  • #3,723
  • May 28, 2013 10:26pm May 28, 2013 10:26pm
Shy of few pips away from completing the destination. We can assume that the train has reached its intended stop. Perhaps not in the "time" that we have envisioned. Any short from this area has good RR but consider the following.

What to expect from here:
- Market goes into "mini panic" mode, potentially more up move before falling
- EU move up to 1.293 (has its reasons)
- Price completes a smaller cycle within a larger one. 1.047 is still in the book.

Please take these as reference to your own analysis..
  • #3,724
  • May 29, 2013 4:06am May 29, 2013 4:06am
Quoting newbegger
{quote} 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. ;-)

Hi, Thanks for your interest! Here's something to take away for basic cycles principle- If you look at the bigger picture, market is always repeating itself like karma. *"Human emotions of fear, greed, desire and security cause repeating scenarios in the financial markets". There will come a time when market soar like nobody's business and will be times when market is in panic and also times of recession. Some lasts longer than the other but they all repeat like a wheel.

Most of the time, news is least of the concerns for anyone trading cycles because of the reasons mentioned earlier- At least for bigger time frames.

*Excerpt taken from some random book
  • #3,725
  • May 29, 2013 6:50am May 29, 2013 6:50am
Quoting tweezer
{quote} Hi, Thanks for your interest! Here's something to take away for basic cycles principle- If you look at the bigger picture, market is always repeating itself like karma. *"Human emotions of fear, greed, desire and security cause repeating scenarios in the financial markets". There will come a time when market soar like nobody's business and will be times when market is in panic and also times of recession. Some lasts longer than the other but they all repeat like a wheel. Most of the time, news is least of the concerns for anyone trading...
Attached Image (click to enlarge)
Click to Enlarge Name: market_cycles_humanreaction.jpg Size: 68 KB
  • #3,726
  • May 29, 2013 12:42pm May 29, 2013 12:42pm
Quoting tweezer
{quote} Hi, Thanks for your interest! Here's something to take away for basic cycles principle- If you look at the bigger picture, market is always repeating itself like karma. *"Human emotions of fear, greed, desire and security cause repeating scenarios in the financial markets". There will come a time when market soar like nobody's business and will be times when market is in panic and also times of recession. Some lasts longer than the other but they all repeat like a wheel. Most of the time, news is least of the concerns for anyone trading...
Last year, USD started to weaken in last days of May. Lots of chatter from the TV talking heads about tapering so I am not sure if we get repeat of last year. After the bull run in this pair, let's watch for a reversal this week or maybe next week from NFP. I am cautious now about trading heavy either side so small posi's using range trading system.
Ecclesiastes 1:9
  • #3,727
  • May 29, 2013 12:56pm May 29, 2013 12:56pm
I like to share my viewpoint.I trade with longer TF in mind Weekly chart so anything less then a week is market noise to me.
With monthly and yearly in mind we can clearly see UC range.I have highlighted in red.Dismiss the 2008 housing crash which was a special case.Since then UC is in 1200 pip range and 100 marking parity and Median line.According to Andrews pitchfork concept which I am fan of price returns to median line.
I am selling now and will continue selling until all my orders in profit and getting positive swap is ideal so no pressure to close trades.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.weekly.png Size: 36 KB
In trading, you have to be defensive and aggressive at the same time
  • #3,728
  • May 29, 2013 1:15pm May 29, 2013 1:15pm
Yes, Davit,

I agree, we have a good setup for UC.
I'll wait for a retraction of the price for a possible entry.
Attached Image (click to enlarge)
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  • #3,729
  • May 29, 2013 2:44pm May 29, 2013 2:44pm
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadm30.png Size: 64 KB
  • #3,730
  • May 29, 2013 7:46pm May 29, 2013 7:46pm
Quoting Davit
I like to share my viewpoint.I trade with longer TF in mind Weekly chart so anything less then a week is market noise to me.With monthly and yearly in mind we can clearly see UC range.I have highlighted in red.Dismiss the 2008 housing crash which was a special case.Since then UC is in 1200 pip range and 100 marking parity and Median line.According to Andrews pitchfork concept which I am fan of price returns to median line.I am selling now and will continue selling until all my orders in profit and getting positive swap is ideal so no pressure to...
Most of my trades are day trades so I look a the Daily I look at weekly and monthly at the end of each for clues on direction if it's significant and try to stay with monthly cycles, like this month has seasonal bias to upside for USDCAD.

Occasionally a swing trade if I catch a fast mover;-))
Ecclesiastes 1:9
  • #3,731
  • May 29, 2013 11:14pm May 29, 2013 11:14pm
Quoting newbegger
{quote} Most of my trades are day trades so I look a the Daily I look at weekly and monthly at the end of each for clues on direction if it's significant and try to stay with monthly cycles, like this month has seasonal bias to upside for USDCAD. Occasionally a swing trade if I catch a fast mover;-))

What works for you.I find hitting 10% + a month is most possible with larger time frame in mind.This is how Banks hedge funds make their money.
I rather hit 2k pips in a month from 20 trades then spend every day struggling to get 20-50pips in 100 trades.
I've been there done that and moved over.
regards
In trading, you have to be defensive and aggressive at the same time
  • #3,732
  • May 29, 2013 11:42pm May 29, 2013 11:42pm
Off topic-
What do you see? This is EU chart
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  • #3,733
  • May 30, 2013 12:49am May 30, 2013 12:49am
usd cad

time daily pattern : shark

time h4: rd-

http://pcmbrokers.org/pcmfileupload/...9892548811.gif

http://pcmbrokers.org/pcmfileupload/...9892646231.gif
  • #3,734
  • May 30, 2013 12:16pm May 30, 2013 12:16pm
UPdate
+140pips in profit holding out for grand slam.See the Chart.

Alex nice chart.I love harmonics myself.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.daily.png Size: 41 KB
In trading, you have to be defensive and aggressive at the same time
  • #3,735
  • May 30, 2013 1:43pm May 30, 2013 1:43pm
Quoting Davit
UPdate+140pips in profit holding out for grand slam.See the Chart. Alex nice chart.I love harmonics myself. {image}

Hey brother, its looking good, those H4 candles look sweet and I have changed two of my 5 orders and dropped them 100 pips to a TP at 1.01.

Will close them early if I see anything more juicy but looking great so far.

Happy days
Money never sleeps...
  • #3,736
  • May 30, 2013 3:31pm May 30, 2013 3:31pm
jumping in short. got a head & shoulder on the 1h. I missed the breakout a few hours ago but target is still 50pips away. gonna jump in if we break out of this flag to the short side.
  • #3,737
  • May 30, 2013 3:33pm May 30, 2013 3:33pm
Happy pips fellow traders ...
  • #3,738
  • May 31, 2013 2:01am May 31, 2013 2:01am
I am waiting for LONG though, at 1.0230. That would be one of my key support level I probably want to take a look at. What's more, today is the last day of the week and month! Here, check it out my analysis at http://alternateforexiew.wordpress.c...eek-and-month/
Knowledge is powerful tool that we can ever have.
  • #3,739
  • May 31, 2013 2:30am May 31, 2013 2:30am
I still think that the Loonie has 300 more pips at least south ...
  • #3,740
  • May 31, 2013 6:37am May 31, 2013 6:37am
Quoting 50 Fils
I still think that the Loonie has 300 more pips at least south ...
A pin bar formation happening in 4hr candle right at 4hr down trendline. This is probably indicating a move south but one has to wait for GDP and better than expected should move it down.
Wait for the market to come to you.. then take the green pips..
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