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USD/CAD

  • #5,901
  • Jul 17, 2014 9:46pm Jul 17, 2014 9:46pm
Quoting skyhok
{quote} 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.
uhm, my indi shows that target 1.0800 will be hit 1st before going south again...
btw those waves are nicely done, similar to mine.
GL
Keep calm and go GREEN...
  • #5,902
  • Jul 17, 2014 9:56pm Jul 17, 2014 9:56pm
Quoting nofirumi
{quote} uhm, my indi shows that target 1.0800 will be hit 1st before going south again... btw those waves are nicely done, similar to mine. GL
It seems that we are set up for an Abcd pattern, as price has bounced off 61.8 retracement... plus target of 1.272 sits on 1.0720 and 161.8 is right on 1.07...

Be careful if you are invested for the upside...

GL!
  • #5,903
  • Jul 18, 2014 12:39am Jul 18, 2014 12:39am
Probable EW update.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcadm30 16.png Size: 39 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #5,904
  • Jul 18, 2014 4:39am Jul 18, 2014 4:39am
my view, still the same...

GL
Attached Image (click to enlarge)
Click to Enlarge Name: usd-cad 180714.png Size: 41 KB
Keep calm and go GREEN...
  • #5,905
  • Jul 18, 2014 6:00am Jul 18, 2014 6:00am
Ascending trend line support on H1 signals the overall up-move by the pair. Currently, it is expected to test 1.0735 support level, breaking which 1.0710, 1.0700 and 1.0675 can become immediate supports for the pair. On the reversal, 1.0755, 1.0767 and 1.0775 can become immediate resistances before the pair rallies to 1.0810 level.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1.png Size: 38 KB
  • #5,906
  • Jul 18, 2014 6:24am Jul 18, 2014 6:24am
ideas before the news??? I would like to see a good move in the eur/cad, I will try to scalp the news , today intraday high is 1.4560 in asian session, we can see the strong support 1.4440 or maybe a rally over 1.46 in the north side, good luck
  • #5,907
  • Jul 18, 2014 9:41am Jul 18, 2014 9:41am
USDCAD should be rolling after a 50% retracement.
Elliott Wave for optimum entry, exit and risk management of trades
  • #5,908
  • Jul 18, 2014 10:05am Jul 18, 2014 10:05am
Quoting waleed.khan
{quote} It seems that we are set up for an Abcd pattern, as price has bounced off 61.8 retracement... plus target of 1.272 sits on 1.0720 and 161.8 is right on 1.07... Be careful if you are invested for the upside... GL!
Target was hit...

But from the recent high to low; price has retraced 61.8; hence that means we could be retesting the area again; if we don't break higher from these levels!
  • #5,909
  • Jul 18, 2014 12:42pm Jul 18, 2014 12:42pm
Actually expected the CPI to print lower and so closed out C/J positions prior to news, unfortunately one at a loss but overall a good net profit. But should've stayed in !
Enter Signature
  • #5,910
  • Jul 19, 2014 4:56pm Jul 19, 2014 4:56pm
we are following this thread.
daily and most of MAs say: pair is heading up!

i think EUR/CAD will be faster due to math issues
  • #5,911
  • Jul 21, 2014 7:02am Jul 21, 2014 7:02am
USDCAD is likely to face stiff resistance of descending trend line near 1.0760, breaking which the pair can rally towards 1.0780 and 1.0810. On the downside, 1.0730 seems a good support, breaking which 1.0675 can't be denied. However, absence of major economics from US and CAD are likely to support the sideways to negative trend of the pair.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 33 KB
  • #5,912
  • Jul 21, 2014 12:46pm Jul 21, 2014 12:46pm
support 1.0730 just temporary broken, price backs into support zone which is good for adding longs. shaking weak longs or something else, it doesn't matter, this looks like an accumulation to me. the real catalyst will be canadian core retail sales (Wednesday).
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #5,913
  • Jul 22, 2014 7:34am Jul 22, 2014 7:34am
With the weaker CPI numbers from US, the USDCAD is likely to maintain the descending trend line resistance and can fall towards 1.7030. However, the Home Sales can fuel the pair towards 1.0800 on the sustained trading above 1.0760.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1.png Size: 37 KB
  • #5,914
  • Jul 22, 2014 12:14pm Jul 22, 2014 12:14pm
I think USDCAD is still going after that 61% retracement with it's final wave c down before the advance.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1 17.png Size: 46 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #5,915
  • Jul 22, 2014 12:17pm Jul 22, 2014 12:17pm
Quoting skyhok
I think USDCAD is still going after that 61% retracement with it's final wave c down before the advance. {image}

Indeed! I share the same view... patience is a virtue!

Although one should be weary of the 50 ema as it seems to be giving support to PA; therefore if I see sustained support for 3 or 4 4 hr candles, I might start to change my view.

Cheers!
  • #5,916
  • Jul 22, 2014 12:22pm Jul 22, 2014 12:22pm
Quoting waleed.khan
{quote} Indeed! I share the same view... patience is a virtue! Although one should be weary of the 50 ema as it seems to be giving support to PA; therefore if I see sustained support for 3 or 4 4 hr candles, I might start to change my view. Cheers!
Do you mean trading wise - place a buy limit at the bottom and a buy stop above?
Elliott Wave for optimum entry, exit and risk management of trades
  • #5,917
  • Jul 22, 2014 12:53pm Jul 22, 2014 12:53pm
Quoting skyhok
{quote} Do you mean trading wise - place a buy limit at the bottom and a buy stop above?
Exactamo! (although buy stop above should be done carefully because of "stop hunting")

The value area is a lot better at the buy limit down!

But I'm guessing you already knew all of this!
  • #5,918
  • Jul 23, 2014 7:05am Jul 23, 2014 7:05am
Descending trend line and 40-EMA resistance on H1 chart coupled with the weaker expectations from Canadian Retail Sales is likely to pose a mixed picture for USDCAD. However, the pair seems more on the downside due to the absence of US events and the weaker MACD. 1.0710 seems important support, breaking which the pair can test 1.0680 while the upside resistance of 1.0732 is closely followed by 1.0737, breaking which the pair cna rally towards 1.0750 and 1.0770.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH1.png Size: 35 KB
  • #5,919
  • Jul 23, 2014 7:54am Jul 23, 2014 7:54am
Price is moving sideways for 10-12 days.I still have my short .
  • #5,920
  • Jul 23, 2014 9:37am Jul 23, 2014 9:37am
the US crude oil report did not have much of an impact....
Happy Trading!
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