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USD/CAD

  • #4,441
  • Jan 7, 2014 4:30pm Jan 7, 2014 4:30pm
Quoting Davit
Strong Harmonics {image}
Hi David, im not familiar with harmonics, but this looks bearish, is this right?
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  • #4,442
  • Jan 7, 2014 4:34pm Jan 7, 2014 4:34pm
Quoting pungggi
{quote} Hi David, im not familiar with harmonics, but this looks bearish, is this right?
Yes, it is bearish. The D leg (last swing) shows fibonacci exhaustion as well.
Best time to plant a tree was 20 years ago, second best is now
  • #4,443
  • Edited 5:17pm Jan 7, 2014 5:06pm | Edited 5:17pm
If I may add to the discussion, market also look overbought.
EDIT: I'm looking at the 4h chart.
  • #4,444
  • Edited 5:56pm Jan 7, 2014 5:32pm | Edited 5:56pm
This pair is riding on fundamentals, could remain well-bid up til NFP this Friday.


Today's Ivey PMI was seasonally adjusted up so its possible to contract even worse than the 50> indicated. Canadian Trade Balance widened much more than expected as well today. Neither of those top-tier releases were good for the Cad.

BoC’s Poloz: Concerned about low inflation
  • #4,445
  • Jan 7, 2014 5:35pm Jan 7, 2014 5:35pm
Will ride this thing up to 1.0950. If we dont get there im out for BE
All posts are my personal opinion
  • #4,446
  • Jan 7, 2014 5:39pm Jan 7, 2014 5:39pm
Quoting EmeraldEyes
This pair is riding on fundamentals, could remain well-bid up til NFP this Friday. Today's Ivey PMI was seasonally adjusted up so its possible to contract even worse than the 50> indicated. Canadian Trade Balance widened much more than expected as well today. Neither of those top-tier releases were good for the Cad.
It might but it might also provide a retracement at least to today's pivot at 1.0732.

Price went yesterday from Week Pivot to Week First Resistance and touched Week's second resistance. I see very unlikely to go beyond 1.0826 without providing any retracement.

By the way, today's pivot is yesterday's ultimate resistance. It is reasonable to expect that resistance has become support and see a retracement there.
Best time to plant a tree was 20 years ago, second best is now
  • #4,447
  • Jan 7, 2014 5:45pm Jan 7, 2014 5:45pm
Quoting Rtm
Will ride this thing up to 1.0950. If we dont get there im out for BE
Any chance you could elaborate on your position?
  • #4,448
  • Jan 7, 2014 5:51pm Jan 7, 2014 5:51pm
goldman's tom stolper said to go long at 1.0550 till 1.12 and so far that trade is absolutly amazing, rolling in pips
  • #4,449
  • Jan 7, 2014 6:38pm Jan 7, 2014 6:38pm
Quoting horuxito
{quote} It might but it might also provide a retracement at least to today's pivot at 1.0732. Price went yesterday from Week Pivot to Week First Resistance and touched Week's second resistance. I see very unlikely to go beyond 1.0826 without providing any retracement. By the way, today's pivot is yesterday's ultimate resistance. It is reasonable to expect that resistance has become support and see a retracement there.
If this was a bearish setup then price would touch it and then retrace quickly, it is lingering up here so we are going higher to 1.09 then 1.11 then goldmans target of 1.12 - 1.14. Goldman Sachs is always right they employ the smartest PhD's
  • #4,450
  • Jan 7, 2014 6:40pm Jan 7, 2014 6:40pm
I have the usdcad down fast : ( my account going to die If he continues to be up - I need it at 1.0744 To leave without loss
  • #4,451
  • Jan 7, 2014 6:40pm Jan 7, 2014 6:40pm
i need *
  • #4,452
  • Jan 7, 2014 6:48pm Jan 7, 2014 6:48pm
I need the help of God now whyy its going up more ?? : (
  • #4,453
  • Jan 7, 2014 6:51pm Jan 7, 2014 6:51pm
Quoting yosi408
I need the help of God now whyy its going up more ?? : (
It is already more than 40 pips. God bless u!
  • #4,454
  • Jan 7, 2014 6:55pm Jan 7, 2014 6:55pm
Quoting yosi408
I need the help of God now whyy its going up more ?? : (
Why would you try to go against Goldman Sachs trade recommendation?
  • #4,455
  • Jan 7, 2014 6:56pm Jan 7, 2014 6:56pm
All my money there - I do not even $ 1 in the Bank
  • #4,456
  • Jan 7, 2014 7:01pm Jan 7, 2014 7:01pm
1.0784 is a good level for a pull back, I have expected this pair to shoot up for a long time now and it's finally coming. I think CAD will be the AUD of 2014. Hopefully get a decent size pull back in coming days/weeks to open fresh longs.
  • #4,457
  • Jan 7, 2014 7:08pm Jan 7, 2014 7:08pm
Quoting yosi408
All my money there - I do not even $ 1 in the Bank
you better pull out some of yours, cos those days are major days. And USD might be bull. Tomorrow's Non-Farm Employment, it might be higher tomorrow.
  • #4,458
  • Jan 7, 2014 7:10pm Jan 7, 2014 7:10pm
Quoting yosi408
I need the help of God now whyy its going up more ?? : (

uhh well USD had positive news this AM and CAD had negative... pretty easy to see what it was gonna do.
hold on for the ride. its gonna be a good one. USDCAD is supposed to hit 1.20
  • #4,459
  • Jan 7, 2014 7:22pm Jan 7, 2014 7:22pm
Quoting michaelv
{quote} Any chance you could elaborate on your position?

Yes, I posted the complete trade from start to when it ends in another paid forum but here is elaborating. I entered on a bullish engulfing bar inline with the trend.
All analysis done from daily timeframe. Profit targets are just S/R. Move stop up, basic stuff man.
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All posts are my personal opinion
  • #4,460
  • Jan 7, 2014 7:33pm Jan 7, 2014 7:33pm
What do you say to do? He almost fell to line the 0 (no, - plus and not a minus)

Now he goes up again : (
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