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Attachments: USD/CAD
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USD/CAD

Quoting 2301041124
{quote} Long now. {image}
well i am on the sideline got +15
I exited my short at 1.1056 was holding from 1.1156 for about a week.

I think in my opinion correction rally has got neutralized with a mixed bag of fundementals. Tommrow's non-farm reports. I wasn't personally planning on risking this -- as it can go either way now. Whoever is holding, mind the reports tommrow, it will cause some stir in either downward or upward direction. I will look for re-entry when a trend is re-established.
There are those who know, and there are those who don't know.
been discussing on this pair with my friend monsieur grixen and seems like we gonna have some likely probabilities.
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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.
I just long at 1.099. SL only 30 pips.

I have been waiting for this opportunity for too long. I am aiming for 1500+pips on this trade.
Quoting MrketSniper
I just long at 1.099. SL only 30 pips. I have been waiting for this opportunity for too long. I am aiming for 1500+pips on this trade.

good call.
FxRex Fact #143: I can run really fast.
This pair will go higher in the long term, with the Fed tapering backdrop.
May the Probability be with you!
Quoting Trademunity
This pair will go higher in the long term, with the Fed tapering backdrop.
I agree all the way. And this has been a great pair to trade quickly lately too.

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
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50lots？
Quoting fatpanda
50lots？
haha yes 50 lots with MBT, which is 5 standard (100,000 unit) lots for many other brokers
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
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Quoting MrketSniper
....
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..... that was lucky
This is the first time I've seen this thread for the Loonie. I've been trading it some for the last month. I also like trading the U/J and A/U better than the E/U right now. There is too mush noise in the E/U during the NY session lately. It's either jerking around aimlessly or flatlining.
Quoting htsang
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/...
USDCAD - Trade Setup & Forecast for the week 10th Feb, 2014


Daily Chart

http://1.bp.blogspot.com/-IVI9qquY-Z...2-10_10-37.jpg


Hourly Chart

http://1.bp.blogspot.com/-qq0tYFldJ0...2-10_10-37.jpg


Outlook Trade opportunity

[highlight=yellow; white-spacere-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!
Retracement to the 38.2 fib level and a pinbar on the EMA 20.
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Setup for a buy above 1.0700
Quoting Quidsey
{quote} {image} {image} ..... that was lucky
Yep, I changed it because I realized it was not enough. I was staying up that night to make sure it didn't hit my SL. Because I had been waiting for that opportunity for too long. I would regret if i miss it.
Long set up
15 min chart....
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Journey is more important than destination
Quoting Danny Maina
Retracement to the 38.2 fib level and a pinbar on the EMA 20. {image} Setup for a buy above 1.0700
Traded the pinbar off its 38.2 and 50.0 ret,
50 pips bagged for each.
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Damn, it has been rejected by 200 SMA at 1 hour five times.
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Quoting MrketSniper
{quote} Yep, I changed it because I realized it was not enough. I was staying up that night to make sure it didn't hit my SL. Because I had been waiting for that opportunity for too long. I would regret if i miss it.
Are you still in or did you get stopped out?
There are those who know, and there are those who don't know.
Quoting palabara
{quote} Are you still in or did you get stopped out?
I am still in. If I get stopped out, I will wait for another opportunity. It is going to be difficult for me to get stopped on this setup unless USD weakness continue.
The weather in US is getting crazier and I think that it will continue to affect the US data for a month or two. But I will continue to hold this pairs just because the Canada economy is not doing well.
Quoting MrketSniper
{quote} I am still in. If I get stopped out, I will wait for another opportunity. It is going to be difficult for me to get stopped on this setup unless USD weakness continue. The weather in US is getting crazier and I think that it will continue to affect the US data for a month or two. But I will continue to hold this pairs just because the Canada economy is not doing well.
Indeed. US companies leaving Canada because of high labor cost.....
My 2 cents.. Government wants to back investors thus this year CAD is gonna be one of the weakest currencies. Unless Crud oil surges....
Journey is more important than destination
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