USD/CAD

The current swing of this leg falls right in the middle of the 76.4 and the 61.8 fib of the main swing. Showing signs of weakness. Looks like a good place to take a short. Gonna keep an eye on this on the lower time frame to see if I can get a good entry.

Certain Cad trades are interesting.

One might consider future oil routes...and future pipeline transportation.

Charts do not drive price.

Looking @ that double top for a little retrace before we continue the up trend , probably the US unemployment will play a major role sometime today ....any ideas ?

Ascending trend line on H1 chart continued fueling the USDCAD and the pair becomes vulnerable to test 1.1220 imminently.

Hi,

I sent you a pm.

best Regards,
G

Been trading this one. Sent you guys a heads up prior to the big move downward.

My interest is in creating a professional forward indicating platform for other traders.

I like this forum because it's not too popular and the people here are not judgmental.

My Private message is disabled...and I don't check the forum too much..

So, if you post a reply, I will respond.

[quote=State;7763201]Been trading this one. Sent you guys a heads up prior to the big move downward. My interest is in creating a professional forward indicating platform for other traders. I like this forum because it's not too popular and the people here are not judgmental. My Private message is disabled...and I don't check the forum too much.. So, if you post a reply, I will respond.

what is that indicators u r using? thanks

[quote=kabukyboy;7763362] I have been working with Volatility Deviations, along with various types of ATR and Williams. I also use a live news feed and data releases. The combination works well. EurAud was a counter trend trade.

Price Action is not always so easy to read these days, so the indicators help.

I read this earlier today and wanted to share it with you, since CAD is a high level oil producer. Also, the chart shows a potential upswing in crude, not by PA
--------------------------------------------------
Oil futures rose Friday after Iran's oil minister said OPEC should act to stop the steep selloff in recent months that have dragged crude prices below $100 a barrel.
Light, sweet crude oil futures for November delivery were up 20 cents, or 0.3%, to $92.73 a barrel on the New York Mercantile Exchange. The global Brent contract rose as much as 0.5% and recently traded up 5 cents at $97.68 a barrel on the ICE Futures Europe exchange.
Oil prices have been in a three-month slump, with the U.S. benchmark dropping more than 13% and Brent crude, the global standard, falling 15% as anticipated interruptions in Iraqi supplies failed to materialize despite the takeover of parts of the country by Islamist militants and as resurgent Libyan barrels flooded the global market with supplies.
Libya is now producing 925,000 barrels a day, up by half a million barrels in just two months, as the country's oil industry recovers from near-total shutdown amid rebel fighting and a barely functioning central government.
The Organization of the Petroleum Exporting Countries, and particularly swing producer Saudi Arabia, has been struggling with whether to cut supplies to support prices or compete to gain market share.
"Given the downward trend of the oil prices, the OPEC members should make efforts to offset their production to keep the prices from further instability," Iranian Oil Minister Bijan Zanganeh was quoted as saying by Iran's Oil Ministry website Shana.
OPEC Secretary-General Abdalla Salem el-Badri hinted earlier this month the cartel may reduce its production ceiling when it meets in November. Saudi Arabia cut its output by 400,000 barrels a day last month and plans to keep it at the current level of 9.6 million barrels a day in the coming months, according to a Persian Gulf oil official.
But others like Kuwait and the United Arab Emirates have decided to pump more. Overall, OPEC exports are expected to be 360,000 barrels higher through early October than they were in the preceding month, Commerzbank said in a note.
In U.S. product markets, October gasoline futures fell 4.08 cents, or 1.5%, 9% to $2.6772 a gallon. October diesel rose 0.56 cent to $2.7014 a gallon.
Benoît Faucon and Summer Said contributed to this article.
Write to Christian Berthelsen at [email protected]
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires 09-26-14 0958ET Copyright (c) 2014 Dow Jones & Company, Inc.

Last week was the biggest week since January. I'm keeping an eye on the weekly and monthly charts and holding.

IMHO, USDCAD likely to witness a reversal. I think it is the time to generate new buy.

The pair confirmed still a positive closing last night still suggesting further upside potential suggesting a 1,12 overshooting! The indicators of the daily chart are still well positive but those of the s/t ones are still showing a mixed picture suggesting further consolidation/ correction with the 200 hours line at 1,1062 still the attraction. An hourly closing above 1,1170 could however resume the move up suggesting a s/t target at 1,1247. Only a break below 1,1130 will postpone the positive scenery suggesting a deeper correction!! We wait for the correction to buy but only close to the 200 hours line!!
Resistance: 1.1180, 1.1250 Support: 1.1130, 1.1080 Read more

Target hit at 161.8 fib level.. Expecting a minor retracement, but the overall long term trend is still in tact!

​https://www.tradingview.com/v/Sdkvg42T/

.

This is an interesting setup. Volatility Indicators are not cut and dry. One must learn to adapt..and some times even wake up to new ideas (quoted from Homer Simpson).

As WaleedKhan said above trend is still intact.

enteredLong off the 30min, see chart below. could i be wrong ? yes i could be wrong in the event the Main trend reversed or at least too early. anyway, gotto execute my trade according to my plan

Attached Image

This is an interesting setup. It's a classic battle and shows a potential corrective or topping pattern, which is not present in UsdCad.

Yesterday's trading was a wild ride. I hope that some of you caught my lead.

The pair confirmed a weak closing below the low of the negative day reversal suggesting that this dollar could have a s/t top. While weak compared to the previous one, yesterday’s closing was well off the low below 1,1100!! The indicators of the daily chart are however still well positive while those of the s/t charts are showing a mixed picture suggesting some consolidation/ correction. We believe the present move up above 1,1150 is corrective, having broken below the 30% level. We try therefore a short position here at 1,1174 with a stop above 1,1225!! Read more

I don't know if I'd want to short a clear uptrend. Maybe range trading is the best idea if you weren't able to get long on the drop to 1.1071. EUR/CAD buying prior night ahead of the ECB helped stem USD/CAD losses. Pop today back to the 61.8% retracement of 1.1223 - 1.1071 at 1.1163 says a break above here affirms the bullish argument for another run higher and vice versa; a move lower says bears in control. From the gents over at forexlive (although on SDR View app on Reuters Eikon - see attached screenshot - we have a little different values) USDCAD option expiries for Friday: 1.1000 (USD 915m) 1.1075 (USD 570m) 1.1100-05 (USD 405m) 1.1150-55 (USD 620m).

Add in NFPs, and I'll be happy to sit this Friday out and watch. However, I'd take a long if we got around y'day's low with a stop under 1.1050 and expect 1.1130/35 to be a bit of support if it drops lower. Topside looks like very lightin the way of option expiries, though IFR (Reuters RIC 'FXBUZ') was saying they hear corporate offers 1.1200/25 with stops above, option offers 1.1235 with barriers and stops above 1.1250, 80 and 1.1300. Spec bids 1.1075, and light corp bids 1.1065-40, though this was from earlier today so could be a bit stale now, though still some insight.

My strategy would be to use dips to leg into some longs, so perhaps a mildly disappointing NFP gets us there? Conversely, a pop into 1.1225/30 area on a bit better than forecast NFPs would have me short it looking to get out 1.1170-ish.

Best of luck and happy Friday - finally!

Trend, according to my reading of the charts is still firmly Up ...below is the Daily chart of the Loonie
so, i plan my trade and then i trade my plan
...that's why i entered long yesterday off the 30min chart
...at that time of entry, everywhere was blood...red everywhere on my intraday charts
...the green ellipse on the wick of the Daily candle indicates the buy entry off the 30mins chart

Attached Image