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USD/CAD

  • #4,381
  • Dec 4, 2013 3:07am Dec 4, 2013 3:07am
Quoting athan00
prepare to launch...
you already long here?
  • #4,382
  • Dec 4, 2013 3:14am Dec 4, 2013 3:14am
Quoting Davit
short 640 and 650 pending My system tells me to sell.Must comply {image}

may i know what system you are using ?

can share?
  • #4,383
  • Dec 4, 2013 11:40pm Dec 4, 2013 11:40pm
Quoting waifong
{quote} may i know what system you are using ? can share?

My system is in the chart. Bolinger bands and RSI
Works best in range market but not so great in continued strong trends.70-80% forex is not trending so I like this set up which happens more often then continued up or down trends.
This is when you must show discretion in confluence with fundamentals.

Set UP
BB 2nd deviation
BB 3rd Deviation
RSI 14 70/30
RSI is great filter.When price is within 2nd and 3rd deviations and RSI 70or above most likely its topping out.
Example here Works best on daily chart.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.daily.png Size: 41 KB
In trading, you have to be defensive and aggressive at the same time
  • #4,384
  • Dec 6, 2013 9:12am Dec 6, 2013 9:12am
Seems like USD is going down no matter what.

Short @1.0658 SL:1.0714
  • #4,385
  • Dec 7, 2013 3:05am Dec 7, 2013 3:05am
This looks like its going down, i believe what my eyes can see
Attached Image (click to enlarge)
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  • #4,386
  • Dec 7, 2013 4:00am Dec 7, 2013 4:00am
This is why i enter short:

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.png Size: 88 KB


Price get rejected at July 2010 high, plus weekly inverted hammer.
  • #4,387
  • Dec 8, 2013 4:44pm Dec 8, 2013 4:44pm
I keep on looking at this chart and that kangaroo tail but its not a high probability trade since theres no room to the left and it doesnt have a bigger range than the preceeding candles. I think ill be skipping on this trade.
  • #4,388
  • Dec 9, 2013 4:17am Dec 9, 2013 4:17am
Buy stops above 1.0710
Sell stops 1.0620-00 & 1.0550
Attached Image
  • #4,389
  • Dec 9, 2013 4:49pm Dec 9, 2013 4:49pm
Try long @ 1.06372.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #4,390
  • Dec 12, 2013 3:30am Dec 12, 2013 3:30am
Quoting Zircon
Try long @ 1.06372.
You can try to buy here @ 1.0560
  • #4,391
  • Dec 12, 2013 7:35am Dec 12, 2013 7:35am
Fun starting up again. 1.0580 was a nice level for buys.

Will TP some at 1.062x
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 60 KB
Twitter: @TrendersGame
  • #4,392
  • Dec 13, 2013 10:31am Dec 13, 2013 10:31am
Took off some of the longs at 1.0630 and 1.0650.

Buying more on this retrace, need 1.0550 to hold for uptrend to remain healthy, hoping that level will hold going into FOMC and maybe a taper starts the next leg higher.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 68 KB
Twitter: @TrendersGame
  • #4,393
  • Dec 13, 2013 10:37am Dec 13, 2013 10:37am
Quoting Citiboy
Took off some of the longs at 1.0630 and 1.0650. Buying more on this retrace, need 1.0550 to hold for uptrend to remain healthy, hoping that level will hold going into FOMC and maybe a taper starts the next leg higher. {image}
Agreed. I am short from 1.0664 with target at 1.0560.
  • #4,394
  • Dec 13, 2013 2:01pm Dec 13, 2013 2:01pm
Quoting Citiboy
Took off some of the longs at 1.0630 and 1.0650. Buying more on this retrace, need 1.0550 to hold for uptrend to remain healthy, hoping that level will hold going into FOMC and maybe a taper starts the next leg higher. {image}
Im with you 100% and I was thinking that too about the taper could be the catalyst as this is sitting on a very bullish level on higher timeframes looks so good! But UCAD is messy in its moves
All posts are my personal opinion
  • #4,395
  • Dec 16, 2013 6:15am Dec 16, 2013 6:15am
Ill be looking to get in long above the 1.0600 number. Both technical and fundamental reasons align here.
Attached Image (click to enlarge)
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  • #4,396
  • Dec 17, 2013 10:30pm Dec 17, 2013 10:30pm
Usd/Cad could be on a slippery slope heading in to Wednesday. Sell stops under 1.0570/60/50 levels.
Attached Image
  • #4,397
  • Dec 17, 2013 10:36pm Dec 17, 2013 10:36pm
Quoting EmeraldEyes
Usd/Cad could be on a slippery slope heading in to Wednesday. Sell stops under 1.0570/60/50 levels. {image}

If you intend to short why not short at higher numbers instead lower numbers you got.You could become spike victim specially during news events like Feds on Weds.
Sharp drop gets you in then sharp up.
REgards
In trading, you have to be defensive and aggressive at the same time
  • #4,398
  • Dec 17, 2013 11:22pm Dec 17, 2013 11:22pm
That's for post-FOMC. Not ready to open a USD trade until after that. Better than expected FOMC release, I'd like to look for Usd/Cad longs if Wed's volatility could send the market lower through these levels.
  • #4,399
  • Dec 19, 2013 2:15am Dec 19, 2013 2:15am
Looking at present level as short opportunity.
Price is on 2009 high level
Have not pulled the trigger yet but looking very attractive
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.monthly.png Size: 26 KB
In trading, you have to be defensive and aggressive at the same time
  • #4,400
  • Dec 20, 2013 7:44am Dec 20, 2013 7:44am
disinflation.... lets get the party started.

will sell some out at 1.0750
Attached Image
Twitter: @TrendersGame
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