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USD/CAD

  • #5,881
  • Jul 16, 2014 12:27pm Jul 16, 2014 12:27pm
Quoting waleed.khan
A pinbar close above 1.7450 on the hourly is only going to prove the bullishness.... and that the past couple of hours were only there for stop loss hunting... If we close above that...will be a sign that sub waves are moving in target and a 5th wave is about to start!
think it'll retest the area again one more time atleast, still some room to even push below it again to take out that level at the bottom of the pinbar
  • #5,882
  • Jul 16, 2014 12:38pm Jul 16, 2014 12:38pm
Quoting justin7
short term correction it should test that pinbar around 720 - 730 area again

Well the target was not hit on the 1 hr chart (missed by a few pips)... Hence the count on the 1 hr is broken and has to be redone.

Now hope is on the 4 hr count which needs 1.074 to hold on the next 4hr candle...

If that doesn't hold then we can see bigger retracements to 61.8 (1.069)

For this entire bullish run to be valid; this leg down should be held above 1.06200..
  • #5,883
  • Jul 16, 2014 12:43pm Jul 16, 2014 12:43pm
Quoting justin7
{quote} think it'll retest the area again one more time atleast, still some room to even push below it again to take out that level at the bottom of the pinbar

Yes it can possibly...the pinbar is also not supported with good volume... right now price is juxtaposed with the 50 ema on the 1 hr chart; lets see...
  • #5,884
  • Jul 16, 2014 12:44pm Jul 16, 2014 12:44pm
Quoting waleed.khan
{quote} Well the target was not hit on the 1 hr chart (missed by a few pips)... Hence the count on the 1 hr is broken and has to be redone. Now hope is the 4 hr count which needs 1.074 to hold on the next 4hr candle... If that doesn't hold then we can see bigger retracements to 61.8 (1.069) For this entire bullish run to be valid; this leg down should be held above 1.06200..
The manipulation was strong before bringing this back down with only usd and cad news the rest of the week theres no reason not to think it will be pushed back down to atleast retest that 700-730 area. The doji is strong on the h4, they really cleared it out at this area.
  • #5,885
  • Jul 16, 2014 12:49pm Jul 16, 2014 12:49pm
Quoting justin7
{quote} The manipulation was strong before bringing this back down with only usd and cad news the rest of the week theres no reason not to think it will be pushed back down to atleast retest that 700-730 area. The doji is strong on the h4, they really cleared it out at this area.

Maybe... but I'm optimistic about the 4hr chart subwave no 3 and that it should hold (seems to be working perfectly with the wave structure)...a close above 1.04 on the 4 hr will be the key (atleast in the near term)
  • #5,886
  • Jul 16, 2014 12:56pm Jul 16, 2014 12:56pm
Quoting waleed.khan
{quote} Maybe... but I'm optimistic about the 4hr chart subwave no 3 and that it should hold (seems to be working perfectly with the wave structure)...a close above 1.04 on the 4 hr will be the key (atleast in the near term)
Probably, I know it was overdue to come down though, I'm only going with a retest of the 700-730 area, idk if it'll be able to even break the pinbar, it's pretty strong, but probably a retest as I said around that area.
  • #5,887
  • Jul 16, 2014 1:38pm Jul 16, 2014 1:38pm
I have a contract for the sale of 10745 and 10729

What are your expectations


http://forextrend.forumarabia.com/
Capital management
  • #5,888
  • Jul 16, 2014 11:32pm Jul 16, 2014 11:32pm
We continue to buy into weakness....neutralizing (hedging) price action and data releases when necessary.
Attached Image (click to enlarge)
Click to Enlarge Name: USD CAD 4-07-16.jpg Size: 295 KB
  • #5,889
  • Jul 17, 2014 1:21am Jul 17, 2014 1:21am
Quoting State
We continue to buy into weakness....neutralizing (hedging) price action and data releases when necessary. {image}
Not against the analysis, but IMHO the pair seems down on the daily basis as it continued to fail in surpassing 200-day EMA. 1.0710 and 1.0680 seems likely support levels, breaking which the ascending trend line, stretched from September 2012, likely to privde strong support to the pair near 1.0660-55 region.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 46 KB
  • #5,890
  • Jul 17, 2014 1:26am Jul 17, 2014 1:26am
H4 looks like a H&S we just need one more shoulder.
  • #5,891
  • Jul 17, 2014 1:46am Jul 17, 2014 1:46am
very nice session yesterday, classic whipsaw and stop hunt, so I jumpo with longs till 1.46 in eur/cad, very nice move, then the bears took control, I'm pretty bearish, also euro is falling or trying to fall
  • #5,892
  • Jul 17, 2014 1:48am Jul 17, 2014 1:48am
very nice session yesterday, classic whipsaw and stop hunt, so I jumpo with longs till 1.46 in eur/cad, very nice move, then the bears took control, I'm pretty bearish, also euro is falling or trying to fall, a momentum bearish in euro is expected today, we will see
  • #5,893
  • Jul 17, 2014 3:12am Jul 17, 2014 3:12am
Yes, tho EURUSD is near round number 1.35 sup, witch is kinda important, if USDCAD goes down i expect no more than 1.0695, below that i'll consider more down to 1.062, but for now... hard to say, technically I'd like to see 1.0809 level next week where base of supply is.
And i don't see H&S here on 4h, maybe if we will go back to 1.096 and then back to 1.0812 - then maybe we will form ugly inverse H&S with target 1.13.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_h1_2014_07_17.JPG Size: 214 KB
  • #5,894
  • Jul 17, 2014 4:11am Jul 17, 2014 4:11am
Setting up for long on USDCAD.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh1 15.png Size: 42 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #5,895
  • Jul 17, 2014 4:18am Jul 17, 2014 4:18am
will add 1 more long if the correction reach 1.07200 (more or less), i don't think will go below level 1.0700.
still aiming this BULL to level 1.0800 and above...
Keep calm and go GREEN...
  • #5,896
  • Jul 17, 2014 4:59pm Jul 17, 2014 4:59pm
What are the expectations of the usd cad Do drop to 10707 or rise to 108 150
Capital management
  • #5,897
  • Jul 17, 2014 9:00pm Jul 17, 2014 9:00pm
Quoting waleed.khan
{quote} Maybe... but I'm optimistic about the 4hr chart subwave no 3 and that it should hold (seems to be working perfectly with the wave structure)...a close above 1.04 on the 4 hr will be the key (atleast in the near term)

Last count has been invalidated...

This is my new count based on the daily and 4 hr charts...

We are currently inside wave 4 corrective wave and looking for a wave c bottom which must be above 1.06933 to remain valid.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Usdcaddailyewjuly17th.png Size: 53 KB
Click to Enlarge Name: usdcad4hrchartjuly17th.png Size: 53 KB
  • #5,898
  • Jul 17, 2014 9:04pm Jul 17, 2014 9:04pm
Quoting skyhok
Setting up for long on USDCAD. {image}

Hey didn't realize our charts were similar...

Glad to see another ew counter...

GL to you!
  • #5,899
  • Jul 17, 2014 9:08pm Jul 17, 2014 9:08pm
Quoting Fx_Anil
{quote} Not against the analysis, but IMHO the pair seems down on the daily basis as it continued to fail in surpassing 200-day EMA. 1.0710 and 1.0680 seems likely support levels, breaking which the ascending trend line, stretched from September 2012, likely to privde strong support to the pair near 1.0660-55 region. {image}
Thank you for the response. Your point is well taken.

We were expecting a push down to a lower range of 1.0650 to 1.07.

Today's data reports were not US positive, but News Events created risk aversion.

Our trading is based upon market pressure in different time frames. This determines trade placement and hedging.

The current market place is volatile, so we are trading shorter time periods and holding hedges for shorter periods, as deemed appropriate to the market conditions.
Attached Image (click to enlarge)
Click to Enlarge Name: 6 WIN 1 ROW 14-07-17.jpg Size: 353 KB
  • #5,900
  • Jul 17, 2014 9:25pm Jul 17, 2014 9:25pm
Quoting waleed.khan
{quote} Hey didn't realize our charts were similar... Glad to see another ew counter... GL to you!
Good looking charts U've got there and very probable too.
Please keep posting and updating charts as the market moves on? Love to see more alternate EW counts.
Elliott Wave for optimum entry, exit and risk management of trades
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