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USD/CAD

  • #4,861
  • Feb 19, 2014 7:43am Feb 19, 2014 7:43am
Once again so funny. Bad US Data, and the dollar rising. Probably already priced in.
Fix up, trade sharp ...
  • #4,862
  • Feb 19, 2014 7:47am Feb 19, 2014 7:47am
Very nice breakout here. Textbook bull move.


On the data today, its funny that as of late the data has been so consistently bad that it has to be a weather related slow down. Even if the economy took a turn for the worse, the data still wouldn't be so so consistenly missing every estimate. The weather story is getting old, markets will look forward to a strong springtime and probably start buying USD. Today ahead of fed minutes seems like a good time for longs.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 95 KB
Twitter: @TrendersGame
  • #4,863
  • Feb 19, 2014 7:51am Feb 19, 2014 7:51am
Quoting Hickson
Once again so funny. Bad US Data, and the dollar rising. Probably already priced in.
it at least have to try to be some sort of a safe haven currency.
Trade what you see, not what you think!
  • #4,864
  • Feb 19, 2014 7:52am Feb 19, 2014 7:52am
Quoting Citiboy
hmmm. looks like i bought the lows of the day.
Bought but offloaded at 9030 as it was overleveraged. It is now saving my 1.10 longs which were underwater for days.

Unsettled USD/CAD 233.54 CAD 0.6603 154.20 EUR

not bad.
  • #4,865
  • Feb 19, 2014 7:53am Feb 19, 2014 7:53am
Quoting Citiboy
Very nice breakout here. Textbook bull move. On the data today, its funny that as of late the data has been so consistently bad that it has to be a weather related slow down. Even if the economy took a turn for the worse, the data still wouldn't be so so consistenly missing every estimate. The weather story is getting old, markets will look forward to a strong springtime and probably start buying USD. Today ahead of fed minutes seems like a good time for longs. {image}
Violent move indeed. I did not trade the pair for a long time, just saw the daily before the breakout and thought... hmmm... looks like sellers lost power.
Fix up, trade sharp ...
  • #4,866
  • Feb 19, 2014 7:59am Feb 19, 2014 7:59am
Quoting Hickson
Once again so funny. Bad US Data, and the dollar rising. Probably already priced in.
This was moved more by bad CAD data than US. 2nd bad this week after manufacturing sales. Bad wholesale sales just confirm that the retails sales will be bad.
  • #4,867
  • Feb 19, 2014 9:25am Feb 19, 2014 9:25am
150 pips off the low and the fed minutes not even out yet...
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  • #4,868
  • Feb 19, 2014 9:43am Feb 19, 2014 9:43am
I am loving it
  • #4,869
  • Feb 19, 2014 11:49am Feb 19, 2014 11:49am
Quoting Citiboy
150 pips off the low and the fed minutes not even out yet... {image}
I see a few loose doves speaking. This may turn upside down in no time
  • #4,870
  • Feb 19, 2014 12:26pm Feb 19, 2014 12:26pm
Quoting Greener
{quote} I see a few loose doves speaking. This may turn upside down in no time
massive bullish engulfing candle on daily after today. Nothing bullish for the CAD anywhere in sight.
Trade what you see, not what you think!
  • #4,871
  • Feb 19, 2014 12:42pm Feb 19, 2014 12:42pm
Quoting OMGtrader
{quote} massive bullish engulfing candle on daily after today. Nothing bullish for the CAD anywhere in sight.
there wasn't anything bullish prior to this upmove either. It may now be headed to 1.15 before minor continuation down to 1.0810 and possibly 1.06ish area. After all the overall trend is uberbullish. You must expect sudden violent uprises on the way down. We will see 1.2 and 1.3 possibly by year end. Canada is also supporting USD.
  • #4,872
  • Feb 19, 2014 12:51pm Feb 19, 2014 12:51pm
Long
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDCAD(5 Hours)20140219134920.png Size: 32 KB
  • #4,873
  • Feb 19, 2014 1:12pm Feb 19, 2014 1:12pm
Quoting piplow
{quote} I don't think that 1.06 is realistic, neither is 1.3 though. We're more likely in a corrective downwards wave. 1.0941 is the 38.2% from the beginning of 2014 to the high of 2014. We will test that support and IF the support holds, more then likely we will re test the 2014 high. As much as the USD has been showing weakness, the CAD is fundamentally weaker and overvalued. Just my two cents. I'll be honest, I went in long at 1.0960 with the current price at 1.0945 with a 1.09 SL and a pending TP1 of 1.1122 and a TP2 1.1215, hopefully I can...
I had 60 lots in this and have been holding this for a while. Extremely bullish move, took out a few stops along the way. Good chance we will revisit the yearly high in the next few weeks. Changed my SL to B/E, TP 1 to the TP2 and keeping my TP2 open for the time being. 1.3 seems overly ambitious, most banks have the loonie priced in to 1.15 - 1.20 by year end.
  • #4,874
  • Feb 19, 2014 1:26pm Feb 19, 2014 1:26pm
Quoting piplow
{quote} I had 60 lots in this and have been holding this for a while. Extremely bullish move, took out a few stops along the way. Good chance we will revisit the yearly high in the next few weeks. Changed my SL to B/E, TP 1 to the TP2 and keeping my TP2 open for the time being. 1.3 seems overly ambitious, most banks have the loonie priced in to 1.15 - 1.20 by year end.
hey guys these levels were touched last time in 2009 when both 1.2 and 1.3 were touched, just saying. Having said that if 1.3 is to be touched 1.06 is also possible in the shorter term. This run upwards needs to find energy and rest.
  • #4,875
  • Feb 19, 2014 5:31pm Feb 19, 2014 5:31pm
Could turn into a head shoulders with this move forming the left shoulder. I know its early but that's just what I'll be waiting for. Lotta CAD news happening over the weekend to kick next week off..
  • #4,876
  • Feb 20, 2014 2:49am Feb 20, 2014 2:49am
Quoting OMGtrader
{quote} a guy with a lot of money sure likes to call tops and bottoms. Well, it is his money anyways, no one will give a rat if he loses it all.
They made it. They are up 100+ pips. Since when guy with a lot of money loses it all?
  • #4,877
  • Feb 20, 2014 3:42am Feb 20, 2014 3:42am
possible breakout 15m chart
Attached Image
  • #4,878
  • Feb 20, 2014 8:07am Feb 20, 2014 8:07am
the move is just getting started. Look to re-test recent highs and also make new highs. Not much fundamentally stopping the CAD from dropping.
Trade what you see, not what you think!
  • #4,879
  • Edited 8:41pm Feb 20, 2014 8:18pm | Edited 8:41pm
Quoting OMGtrader
the move is just getting started. Look to re-test recent highs and also make new highs. Not much fundamentally stopping the CAD from dropping.
for now it just look like recent highs can be touched again. For new highs I still believe that at least 1.0830 must be taken out first.
  • #4,880
  • Feb 20, 2014 8:22pm Feb 20, 2014 8:22pm
Quoting piplow
{quote} I had 60 lots in this and have been holding this for a while. Extremely bullish move, took out a few stops along the way. Good chance we will revisit the yearly high in the next few weeks. Changed my SL to B/E, TP 1 to the TP2 and keeping my TP2 open for the time being. 1.3 seems overly ambitious, most banks have the loonie priced in to 1.15 - 1.20 by year end.
60 lots?!?! as in 600 a pip?! lol buddy!
All posts are my personal opinion
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