USD/CAD | Page 206 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

USD/CAD

Similar Threads

EUR/GBP, EUR/USD, GBP/USD, AUD/USD, CAD, NZD, JPY, and more... 15 replies

Milking 4 pairs AUD/NZD, EUR/GBP,NZD/CAD & AUD/CAD for a living 38 replies

EUR/USD, AUD/USD, and CAD/USD ready to move up 2 replies

USD/JPY - USD/CAD any thoughts? 4 replies

CAD export / USD/CAD price 3 replies

Attachments: USD/CAD
Exit Attachments

USD/CAD

  • #4,101
  • Sep 2, 2013 11:27am Sep 2, 2013 11:27am
Quoting pipcenturion
{quote} Thanks a lot sir for taking time out to check the charts for yourself and show to the entire thread. I already pointed out where the likely error is in his chart if only he would make the corrections I suggested and the re-run the correlation between the market instruments. Anyway, USDCAD has come into supply zone very much like I said in my first post to TT. 1.0553- 1.0581 (sell cluster) There also is a bearish bat on daily tf with its point D within my sell cluster. I expect some decent sell off until at least 1.0474 Happy trading everyone....

Hi PipCenturion
I would hold off selling.Price has not broken 500 for 9days and I suspect it will test July high of 1.060 or higher and that is why my limit sells are 1.0650 and 1.070
Regards
In trading, you have to be defensive and aggressive at the same time
  • #4,102
  • Sep 2, 2013 11:29am Sep 2, 2013 11:29am
Quoting JeremyWS
{quote} If you put a long enough time for the correlation, nearly everything correlates highly, I mean, the EURUSD correlation with Oil is .85 at some points which is higher than USDCAD.... explain that... At that point the correlation becomes irrelevant... but the correlation is correct, the platform is not wrong, I think it maybe your understanding of the mathematics behind correlations that makes you confused. The correlation over the past 500 trading days (2 years) is absolutely 0, no statistical correlation whatsoever
May I state very humbly here that I have a Bachelors degree in Mechanical Engineering. I work with figures.
Please do what I suggested and lets see the result.
Thanks sir.
  • #4,103
  • Sep 2, 2013 11:32am Sep 2, 2013 11:32am
Quoting Davit
{quote} Hi PipCenturion I would hold off selling.Price has not broken 500 for 9days and I suspect it will test July high of 1.060 or higher and that is why my limit sells are 1.0650 and 1.070 Regards
Nice plan sir. I wish you the best.
  • #4,104
  • Sep 2, 2013 11:32am Sep 2, 2013 11:32am
Quoting pipcenturion
{quote} May I state very humbly here that I have a Bachelors degree in Mechanical Engineering. I work with figures. Please do what I suggested and lets see the result. Thanks sir.
I posted again what you asked for, just look back a few posts.....

if you need help with using a forum, here is a link to the post - http://www.forexfactory.com/showthre...52#post6934852
  • #4,105
  • Sep 2, 2013 11:35am Sep 2, 2013 11:35am
Quoting JeremyWS
{quote} If you put a long enough time for the correlation, nearly everything correlates highly, I mean, the EURUSD correlation with Oil is .85 at some points which is higher than USDCAD.... explain that... At that point the correlation becomes irrelevant... but the correlation is correct, the platform is not wrong, I think it maybe your understanding of the mathematics behind correlations that makes you confused. The correlation over the past 500 trading days (2 years) is absolutely 0, no statistical correlation whatsoever

I don't disagree with you but I would not buy Canadian dollar if oil prices are dropping irregardless of math.
To me its just fundamental same way Australia selling metals to China effect its currency.
Would I buy Aussie dollar if China data is negative? No.
What I trying to say in crude form if oil prices are falling and one buys Canadian dollar then based on commodity factor you have less edge not more.
As traders we want more factors in our favor not less.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #4,106
  • Sep 2, 2013 11:38am Sep 2, 2013 11:38am
Quoting Davit
{quote} I don't disagree with you but I would not buy Canadian dollar if oil prices are dropping irregardless of math. To me its just fundamental same way Australia selling metals to China effect its currency. Would I buy Aussie dollar if China data is negative? No. What I trying to say in crude form if oil prices are falling and one buys Canadian dollar then based on commodity factor you have less edge not more. As traders we want more factors in our favor not less. Regards
by this logic you base the Aussie sentiment on the performance of the Chinese economy (which is 100% fair and I do the same) but you do not mention the base metal value to determine your sentiment, so why when you consider Canada do you not trade based on the US economy (majority of oil from canada goes there) but in this case use the asset value???

You're mixing up ways of using the same type of analysis which is dangerous.
  • #4,107
  • Sep 2, 2013 11:44am Sep 2, 2013 11:44am
Quoting JeremyWS
{quote} by this logic you base the Aussie sentiment on the performance of the Chinese economy (which is 100% fair and I do the same) but you do not mention the base metal value to determine your sentiment, so why when you consider Canada do you not trade based on the US economy (majority of oil from canada goes there) but in this case use the asset value??? You're mixing up ways of using the same type of analysis which is dangerous.

Jeremy
Oil price is just one factor of many.I do think US economy as well and all the fundamentals that go with it.Just saying drop of oil prices does not help if you are buying Canadian dollar.
In trading, you have to be defensive and aggressive at the same time
  • #4,108
  • Sep 2, 2013 11:49am Sep 2, 2013 11:49am
Quoting Davit
{quote} Jeremy Oil price is just one factor of many.I do think US economy as well and all the fundamentals that go with it.Just saying drop of oil prices does not help if you are buying Canadian dollar. For the record I have 15 short positions on G/C...not doing good now.
Ok, so do you use oil prices when considering AUDUSD, or even USDJPY. because it has just as much fundamental impact on the respective nations and ccy's

Also, GBPCAD textbook breakout here, it reversed - tested the trendline and then has pushed higher...

I see 1.7090 trading in the not too distant future.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD.png Size: 130 KB
  • #4,109
  • Sep 2, 2013 11:49am Sep 2, 2013 11:49am
Quoting JeremyWS
{quote} I posted again what you asked for, just look back a few posts..... if you need help with using a forum, here is a link to the post - http://www.forexfactory.com/showthre...52#post6934852
Can we see chart for daily and weekly tf sir?
  • #4,110
  • Sep 2, 2013 11:51am Sep 2, 2013 11:51am
Quoting pipcenturion
{quote} Can we see chart for daily and weekly tf sir?
that was a daily tf... Weekly is irrelevant if you know anything about the math involved...
  • #4,111
  • Sep 2, 2013 11:53am Sep 2, 2013 11:53am
Quoting pipcenturion
{quote} Nice plan sir. I wish you the best.

Once US market opens tomorrow I suspect with more liquidity price most likely will test 1.060 or above.
Wish you success!
In trading, you have to be defensive and aggressive at the same time
  • #4,112
  • Sep 2, 2013 11:56am Sep 2, 2013 11:56am
Quoting JeremyWS
{quote} that was a daily tf... Weekly is irrelevant if you know anything about the math involved...
The FOREX market opens and closes every 5-trading days = 1 week.
I dare say that weekly tf is of extremely importance when analyzing the FOREX market.
  • #4,113
  • Sep 2, 2013 12:04pm Sep 2, 2013 12:04pm
Quoting JeremyWS
{quote} that was a daily tf... Weekly is irrelevant if you know anything about the math involved...
Is monthly relevant? Since you posted a chart going back to 2010?
How does a statistically 3yr data effect prices now.How does the math fit into it.Just curious.

Maybe it was not so much about trend line rejection but Carney speech singing praises of economic recovery and an opportunity for big boys flash out shorts then push the prices high again classic market makers squeezing the market.
Thanks
In trading, you have to be defensive and aggressive at the same time
  • #4,114
  • Sep 2, 2013 12:09pm Sep 2, 2013 12:09pm
Quoting Davit
{quote} Once US market opens tomorrow I suspect with more liquidity price most likely will test 1.060 or above. Wish you success!
agreed
the cautious seldom err....C
  • #4,115
  • Sep 2, 2013 12:14pm Sep 2, 2013 12:14pm
USDCAD sell in place. Nice grave stone doji on 1 hour time frame.
Lets see how this plays out.
Happy trading!
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh1_sell.png Size: 37 KB
  • #4,116
  • Sep 2, 2013 12:21pm Sep 2, 2013 12:21pm
h4 shows bullish engulfing. G/L
the cautious seldom err....C
  • #4,117
  • Sep 2, 2013 12:26pm Sep 2, 2013 12:26pm
USD_CAD : Going upside But i really hate if it will go up >_<
I am with stander lot 1.00 Buy on CAD_sep if USD_CAD go up then CAD_Sep go down and i really dun like to see cad fall
London closing time usd_cad shoot up side what u think Sedney will kick USD_CAD down side or rang trade ?
  • #4,118
  • Sep 2, 2013 12:27pm Sep 2, 2013 12:27pm
Quoting pips29
h4 shows bullish engulfing. G/L
Bro,
check that monster bear candle from Friday. That candle alone did over 40pips! That's about 50% of the average daily range of USDCAD.
Do you think real traders will joke with such ''hand writing on the wall''?
I also mentioned that a bearish bat has been formed on daily tf.
The only thing to watch out for is a daily candle close above 1.0608 because that will invalidate the resistance (and the bat pattern also). This condition is what MUST be fulfilled for a bat to transpose into a crab.
Enjoy your day bro.
  • #4,119
  • Sep 2, 2013 12:41pm Sep 2, 2013 12:41pm
Quoting pipcenturion
{quote} The FOREX market opens and closes every 5-trading days = 1 week. I dare say that weekly tf is of extremely importance when analyzing the FOREX market.
hi,

you clearly do not understand the quite simple maths here involved with running a correlation as the timeframe doesn't matter. I can't believe you have an Bsc in engineering let alone any degree whatsoever....
  • #4,120
  • Sep 2, 2013 12:42pm Sep 2, 2013 12:42pm
Quoting Davit
{quote} Is monthly relevant? Since you posted a chart going back to 2010? How does a statistically 3yr data effect prices now.How does the math fit into it.Just curious. Maybe it was not so much about trend line rejection but Carney speech singing praises of economic recovery and an opportunity for big boys flash out shorts then push the prices high again classic market makers squeezing the market. Thanks
no as its all just a multiple of daily, so monthly doesn't matter, i.e. for 24 month rolling you would calculate it in terms of days i.e. 30x24 = 720.
6 traders viewing now