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USD/CAD

  • #5,921
  • Jul 23, 2014 11:38am Jul 23, 2014 11:38am
Yawn....this pair has spent 90% of the week in a 15-20 point range.
  • #5,922
  • Jul 24, 2014 7:38am Jul 24, 2014 7:38am
loonie testing nerves..both bears and bulls
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #5,923
  • Jul 25, 2014 2:58am Jul 25, 2014 2:58am
Broke through 1.0750, a decent move must be on its way. A good setup with small stop loss.Lets see how it goes
1.0753 at the time of this post.
  • #5,924
  • Jul 25, 2014 9:41am Jul 25, 2014 9:41am
I suggest selling USDCAD from the present level for today.
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  • #5,925
  • Jul 25, 2014 10:07am Jul 25, 2014 10:07am
A little explanation about the trade call I made early today. Call was made when USDCAD was at 1.0753. It reached 1.0785 later in the day, giving Risk:Reward of 1:1.5.
Attached Image (click to enlarge)
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  • #5,926
  • Jul 25, 2014 10:33am Jul 25, 2014 10:33am
USDCAD Cant Stop Wont Stop!

Will be interesting to see how far this sucker runs.
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Luck is what happens when preparation meets opportunity
  • #5,927
  • Jul 25, 2014 10:34am Jul 25, 2014 10:34am
I closed all my positions above 1.0800. This was an R:R of more than 1:2 trade. It reached 1.0813 quickly. It is a bit extended now. It can be considered again if it creates low risk setups on its way.

Quoting Lanes110
Broke through 1.0750, a decent move must be on its way. A good setup with small stop loss.Lets see how it goes 1.0753 at the time of this post.
  • #5,928
  • Jul 25, 2014 10:47am Jul 25, 2014 10:47am
i smell @1.08500 as today's closing price
Keep calm and go GREEN...
  • #5,929
  • Jul 25, 2014 11:09am Jul 25, 2014 11:09am
Quoting nofirumi
i smell @1.08500 as today's closing price

I agree. Major break out on the 1h so this thing could really take off from here.
Attached Image (click to enlarge)
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Luck is what happens when preparation meets opportunity
  • #5,930
  • Jul 25, 2014 11:59am Jul 25, 2014 11:59am
Hey guys...

So I am just updating my elliottwave count...

Might be a good time to short as the pair will meet resistance in the short term; wait for a confirmation when the line breaches the overbought line again...

Cheers!
Attached Image (click to enlarge)
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  • #5,931
  • Jul 25, 2014 1:03pm Jul 25, 2014 1:03pm
Quoting waleed.khan
Hey guys... So I am just updating my elliottwave count... Might be a good time to short as the pair will meet resistance in the short term; wait for a confirmation when the line breaches the overbought line again... Cheers! {image}
erase the word overbought for this pair as it won't come down easily...new highs by year end....congestion area around 1.0868-70 is first real resistance which will be taken down on the way to 1.12-1.16
  • #5,932
  • Jul 25, 2014 1:51pm Jul 25, 2014 1:51pm
Quoting Greener
{quote} erase the word overbought for this pair as it won't come down easily...new highs by year end....congestion area around 1.0868-70 is first real resistance which will be taken down on the way to 1.12-1.16

I share a similar view http://www.forexfactory.com/showthre...83#post7610183

I think we have bottomed out....

The current call is just based on wave theory... After all nothing goes straight up..right?

Have a good one
  • #5,933
  • Jul 25, 2014 3:13pm Jul 25, 2014 3:13pm
Quoting waleed.khan
{quote} I share a similar view http://www.forexfactory.com/showthre...83#post7610183 I think we have bottomed out.... The current call is just based on wave theory... After all nothing goes straight up..right? Have a good one
USDCAD has a history of straight line trends....safe to wait until next resistance in 10870 area
  • #5,934
  • Jul 25, 2014 4:02pm Jul 25, 2014 4:02pm
Quoting Greener
{quote} safe to wait until next resistance in 10870 area
Agreed! hence if you read I said wait for the rsi line to come down again...which probably is going to be in this range anyway!
  • #5,935
  • Jul 26, 2014 4:06am Jul 26, 2014 4:06am
Quoting bikov
loonie testing nerves..both bears and bulls

bulls satisfied . it seems that up trend has started, maybe a small pullback in Monday just to add more longs. looking at daily chart it looks very bullish and entering short position here is like standing at the railroad in front of the train which is speeding up. fundamentally speaking growth through exports is main goal of BoC and a strong CAD doesn't fits there.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #5,936
  • Jul 26, 2014 5:33am Jul 26, 2014 5:33am
SELL the cross by formation the wave 5 till @1.04615

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  • #5,937
  • Jul 27, 2014 3:53pm Jul 27, 2014 3:53pm
Quoting Me@Home
SELL the cross by formation the wave 5 till @1.04615 {image}
longterm downtrend was broken sometime ago. It's just time to chase the new uptrend. Until 1.1 it's all smooth...after that new highs are very likely 1.2 almost sure thing...find a dip for a good long entry, you won't regret it.
  • #5,938
  • Jul 27, 2014 3:59pm Jul 27, 2014 3:59pm
Quoting Greener
{quote} longterm downtrend was broken sometime ago. It's just time to chase the new uptrend. Until 1.1 it's all smooth...after that new highs are very likely 1.2 almost sure thing...find a dip for a good long entry, you won't regret it.

agree, the name of the game would be "buy on deeps" . right now is overbought with cci34 360 at h4 chart, so maybe small pullback to < 1.08 before resuming the up trend. friday's daily bull candle promises that.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #5,939
  • Jul 27, 2014 4:28pm Jul 27, 2014 4:28pm
Quoting bikov
{quote} agree, the name of the game would be "buy on deeps" . right now is overbought with cci34 360 at h4 chart, so maybe small pullback to < 1.08 before resuming the up trend. friday's daily bull candle promises that.
I expect very limited pullbacks and fast rise until 1.1...we'll see...I will change my analysis if 1.06 level is broken
  • #5,940
  • Jul 28, 2014 1:23am Jul 28, 2014 1:23am
Seems like we are going down now. I´d guess once 1.08 is broken downwards it will go down heavily.
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