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USD/CAD

  • #3,781
  • Jun 28, 2013 4:20pm Jun 28, 2013 4:20pm
short 516 limit shorts 525 550
TP will be decided based on down momentum.
In trading, you have to be defensive and aggressive at the same time
  • #3,782
  • Jun 28, 2013 10:06pm Jun 28, 2013 10:06pm
I'm hoping that this is terminal end for this parabolic move up. On the weekly, it has closed below 1.05222 and on the daily there's a double top plus it has reached 1.61 extension for this move up. I'm also noticing that USD stopped on support for AUD/USD and resistance for USD/CHF.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: weekly cad.gif Size: 40 KB
Click to Enlarge Name: daily cad.gif Size: 61 KB
Click to Enlarge Name: 4 hour cad.gif Size: 65 KB
Click to Enlarge Name: weekly chf.gif Size: 66 KB
Click to Enlarge Name: weekly aud.gif Size: 55 KB
  • #3,783
  • Jun 28, 2013 10:24pm Jun 28, 2013 10:24pm
Quoting ChinoCop
I'm hoping that this is terminal end for this parabolic move up. On the weekly, it has closed below 1.05222 and on the daily there's a double top plus it has reached 1.61 extension for this move up. I'm also noticing that USD stopped on support for AUD/USD and resistance for USD/CHF. {image} {image} {image} {image} {image}
Chino, look at that first chart you have posted. This pair has been consolidating sideways for some 3 plus years and is just now busting upwards out the apex of a symmetrical wedge. If there is any pull-back, it will be short lived. This thing can easily break upwards to 1.08, and I'm thinking higher. If you are shorting, you might want to be quick about pulling any profits off real fast before it moves back up. These moves can be quite brutal if you are on the wrong side.
It's the simple things in life that have the most powerful meaning.
  • #3,784
  • Jun 29, 2013 6:04am Jun 29, 2013 6:04am
Quoting lebleup
{quote} Chino, look at that first chart you have posted. This pair has been consolidating sideways for some 3 plus years and is just now busting upwards out the apex of a symmetrical wedge. If there is any pull-back, it will be short lived. This thing can easily break upwards to 1.08, and I'm thinking higher. If you are shorting, you might want to be quick about pulling any profits off real fast before it moves back up. These moves can be quite brutal if you are on the wrong side.
Hi lebleup,

I know I'm going against the trend, but the weekly and monthly trendlines tend to blunt very powerful moves. But, I'm going to be cautious as I'm looking to take partial profit around 1.410 to 1.390, basically the 38.2 of the move up. Actually, I see various possibilities:

1. It stops at 1.40 uses the red trendline as support and bounces to 1.6xx
2. It goes all the way down to 78.6 and the blue trendline and continues its move up.
Attached Image (click to enlarge)
Click to Enlarge Name: weekly%20cad.gif Size: 40 KB
  • #3,785
  • Edited Jul 4, 2013 6:29am Jul 3, 2013 6:53pm | Edited Jul 4, 2013 6:29am
Attached Image (click to enlarge)
Click to Enlarge Name: usdcaddaily11.png Size: 57 KB


Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh1.png Size: 62 KB


ehm... I think it should be going down.

activated!!!
  • #3,786
  • Jul 5, 2013 10:20pm Jul 5, 2013 10:20pm
I just started to take an interest in this pair. Just my view. Waiting on FOMC next Wednesday. If talk is bad for U.S.D., my first short target would be 1.0429 area. Then watch what price does from there. If it breaks that line, then 1.0094 has my interest, even more. I'm only looking at this pair as a seller, instead of both ways. And just waiting on a signal.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 106 KB
Time turns trend. - W.D. Gann
  • #3,787
  • Jul 8, 2013 11:13pm Jul 8, 2013 11:13pm
usd cad

time daily

http://pcm-fx.com/englishforum/showt...=2139#post2139
pattern : alt bat - ab=cd

http://pcmbrokers.org/pcmfileupload/...3349988791.gif
  • #3,788
  • Jul 10, 2013 11:25am Jul 10, 2013 11:25am
Congratulations to all of those who were short from 1.5 and above. I got shaken out 3 times so I was gun shy about pulling the trigger again. Now I need to find a spot to re-enter short.
  • #3,789
  • Jul 10, 2013 4:36pm Jul 10, 2013 4:36pm
Quoting mry2001
Pending short at 1.05550. Stop 1.06275, target 1.041
target reached today.
  • #3,790
  • Jul 10, 2013 8:55pm Jul 10, 2013 8:55pm
Closed my shorts +310 pips
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.m5.png Size: 40 KB
In trading, you have to be defensive and aggressive at the same time
  • #3,791
  • Jul 10, 2013 10:59pm Jul 10, 2013 10:59pm
Quoting Alex2222
usd cad time daily http://pcm-fx.com/englishforum/showt...=2139#post2139 pattern : alt bat - ab=cd {image}

Result:

http://pcm-fx.com/englishforum/showt...=2407#post2407

http://pcmbrokers.org/pcmfileupload/...3522229661.gif
  • #3,792
  • Jul 10, 2013 11:11pm Jul 10, 2013 11:11pm
Quoting Alex2222
{quote} Result: http://pcm-fx.com/englishforum/showt...=2407#post2407 {image}

Alex I am a big harmonics fan myself however credit goes to News today.
In trading, you have to be defensive and aggressive at the same time
  • #3,793
  • Jul 11, 2013 2:24am Jul 11, 2013 2:24am
Quoting Davit
Closed my shorts +310 pips {image}
Great entries.

Yesterday marked the end of the 2/3 cycle and price respected the meeting point.
We are now in the 3rd and final leg up.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 72 KB
  • #3,794
  • Jul 11, 2013 6:18am Jul 11, 2013 6:18am
Quoting tweezer
{quote} Great entries. Yesterday marked the end of the 2/3 cycle and price respected the meeting point. We are now in the 3rd and final leg up. {image}

Hi Tweezer
I hope you are right because I have my short army waiting
In trading, you have to be defensive and aggressive at the same time
  • #3,795
  • Jul 11, 2013 7:04am Jul 11, 2013 7:04am
Quoting Davit
{quote} Hi Tweezer I hope you are right because I have my short army waiting
I am also hoping so, Davit
Up and away!

We have approximately 130 business days until the final station so plenty of ups and downs to take advantage of depending on the time frame we are trading.
I'm gonna start loading longs when I see some rejection and smaller cycles forming within the H1 and H4 time frame.
  • #3,796
  • Jul 12, 2013 2:11pm Jul 12, 2013 2:11pm
Quoting tweezer
{quote} Great entries. Yesterday marked the end of the 2/3 cycle and price respected the meeting point. We are now in the 3rd and final leg up. {image}

What is your time frame for 2/3 cycle? I am not sure where you at in cycles?

I am looking at the rounding bottom this pair has formed. US Dollar is getting stronger by the day the Bernanke is saying no more USD depreciation.

Only see higher highs and higher lows on daily charts so buying dips is best bet. 38 fib come in around 1.0794 area. Is that where your target is?
Ecclesiastes 1:9
  • #3,797
  • Jul 12, 2013 11:53pm Jul 12, 2013 11:53pm
Quoting newbegger
{quote} What is your time frame for 2/3 cycle? I am not sure where you at in cycles? I am looking at the rounding bottom this pair has formed. US Dollar is getting stronger by the day the Bernanke is saying no more USD depreciation. Only see higher highs and higher lows on daily charts so buying dips is best bet. 38 fib come in around 1.0794 area. Is that where your target is?

This is one of his posts and it answers your question.

"
The overall cycle for this pair is still upwards (1.09).
We only have around a month plus for the next cycle to complete (1.047)
USD is currently weakened after the completion of the smaller cycle which will provide some room for other crosses to take advantage of. Even the news has no effect because of this. How far the other crosses will move depends on their own time and price cycle.
But this won't last long because after the temporary correction, USD will gain momentum to resume it's journey to complete its cycle."
In trading, you have to be defensive and aggressive at the same time
  • #3,798
  • Edited 10:00am Jul 14, 2013 9:45am | Edited 10:00am
Quoting Davit
This is one of his posts and it answers your question. "
Thanks, Davit

That's more or less the target I have according to what I know. If certain conditions are not met within the course of the cycle, the whole target is voided. So far it's still within course. But don't take my word for it.. When time comes, price will decide where it should be.

btw.. I currently have longs targeting 1.0448 and a few shorts waiting to be filled at that area for some small rejection trades.
  • #3,799
  • Jul 15, 2013 9:44am Jul 15, 2013 9:44am
Price failed to break above 38.2fib
which makes me anticipate we got AB=CD and price going down to 300 possibly
Entered short at 420
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.h4.png Size: 46 KB
In trading, you have to be defensive and aggressive at the same time
  • #3,800
  • Jul 15, 2013 9:48am Jul 15, 2013 9:48am
Quoting Davit
Price failed to break above 38.2fib which makes me anticipate we got AB=CD and price going down to 300 possibly Entered short at 420 {image}

I am with you this time round.... Trade safe fellows
trade safe
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