- #4,822
- Feb 6, 2014 9:40am Feb 6, 2014 9:40am
- Joined Jan 2005 | Status: ~ Noblesse Oblige ~ | 1,663 Posts
There are those who know, and there are those who don't know.
- #4,823
- Feb 7, 2014 1:02am Feb 7, 2014 1:02am
- | Joined Mar 2013 | Status: SMART TRADES ONLY! | 675 Posts
been discussing on this pair with my friend monsieur grixen and seems like we gonna have some likely probabilities.
What I expect:
a) A impulsive break above the resistance zone that will trigger buy orders above the aforementioned zone.
b) A impulsive break below the support zone that will trigger sell orders below the this zone.
c) Failure of both a and b; the 90 pip consolidation continues. In this case rejections off the the key support and resistance zones should provide short term scalps ( 60-80 pips per scalp) as it has been the case since Monday.
What I expect:
a) A impulsive break above the resistance zone that will trigger buy orders above the aforementioned zone.
b) A impulsive break below the support zone that will trigger sell orders below the this zone.
c) Failure of both a and b; the 90 pip consolidation continues. In this case rejections off the the key support and resistance zones should provide short term scalps ( 60-80 pips per scalp) as it has been the case since Monday.
This pair will go higher in the long term, with the Fed tapering backdrop.
The 4h timeframe had a great sell stop setup on weak US and strong CAD data. So I had to go short USD/CAD for 5 minutes for 40 pips
50lots？
If it was on my Oanda account, it would have said 5 lots
The USD had alot of similar setups on GBP and JPY and even (but less juicy) EUR and AUD for a break on bad news.
My GBP got stopped out and then took off the way I thought it would, but.....
Im not interested in trading CAD anymore until one of these levels gets close. Then I will probly put stop orders at these levels give or take some pips. Ive learned im better at taking my time for the right trade, and 95% trading breakouts. No time prediction, it might play Pong between the lines for awhile, or not
- #4,832
- Feb 10, 2014 12:49am Feb 10, 2014 12:49am
USDCAD Forecast (Another push lower and possible Cypher?) 5th Feb, 2014 Daily Chart {image} Hourly Chart {image} {image} Outlook Trade opportunity I am still bias for a new high to 1.14, this is because this pair moves very harmonically balanced. Anyways, we'll be talking about shorting when it gets there. For the mean time, i see this potential Cypher pattern coming up (note Leg C is a bit short to complete a 1.272 x-a ext, but will still take it) The PRZ / buy zone is at good levels for support and also at a major fib ext level from a weekly/...
Daily Chart
Hourly Chart
Outlook Trade opportunity
[highlight=yellow; white-space
re-wrap]Our trade on completion of the cypher pattern has been filled On Friday and is still going. We have taken half trade off as we have hit our first tp level[/highlight]Risk Level - Low
Tips -
Always take note of any economical news event on our provided calender below
Only the strong survives!
- #4,838
- Feb 11, 2014 9:08am Feb 11, 2014 9:08am
- Joined Jan 2005 | Status: ~ Noblesse Oblige ~ | 1,663 Posts
There are those who know, and there are those who don't know.