DislikedThe 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...Ignored
- #6,364
- Oct 3, 2014 3:01pm Oct 3, 2014 3:01pm
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 {image}
- #6,365
- Oct 3, 2014 5:19pm Oct 3, 2014 5:19pm
- | Membership Revoked | Joined Nov 2010 | 3,324 Posts
[quote=smikester;7746640]{quote} The move went deeper than I expected but my longs are still looking healthy. I like the confluence of fibs where we are now and the engulfing H4 candles on both my US and UK feeds. I have buy stop orders placed at 1.1025 (sl 1.0990) which should activate some time within the next 6 hours. TP1 1.1060, TP2 1.3 LOL. If this trade does not activate, then the H4 head and shoulders comes into play, with a technical target of 1.0770[/quote
Hi Smike may open close to your 1.13. Goin' to try and sit this one out to 1.15, my trend line might stop it hitting the .618
Hi Smike may open close to your 1.13. Goin' to try and sit this one out to 1.15, my trend line might stop it hitting the .618
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
- #6,366
- Oct 6, 2014 12:54pm Oct 6, 2014 12:54pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
Probable buying opportunity?
Elliott Wave for optimum entry, exit and risk management of trades
- #6,368
- Edited 8:07am Oct 7, 2014 7:47am | Edited 8:07am
- Joined Apr 2014 | Status: Scalper / Swing Trader | 1,417 Posts
- #6,371
- Oct 8, 2014 7:58am Oct 8, 2014 7:58am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Gone to a better place
- #6,372
- Oct 8, 2014 8:12am Oct 8, 2014 8:12am
- Joined Jul 2013 | Status: Trader | 1,738 Posts
{quote} Yes I agree but we are now (dollar pairs) waiting for the FOMC minutes. There could be a good break out trade in the making.
But I think the minutes are more likely to create a lull as the Fed Chair has already confirmed the "Cosiderable Time" ahead of the next interest rate change. However, the FOMC members, that have been outspoken in recent days, could have registered their eagerness to alter the monetary policy soon near mid-2015. Let's wait for the release.
- #6,378
- Oct 11, 2014 3:51am Oct 11, 2014 3:51am
- Joined Jul 2011 | Status: Lord Of War | 1,853 Posts
{quote} The pair is insane, with a very good cad data I don't understand why it's coming back to 1.1200, I guess I'm lucky I got out @ 1.1181
opened new shorts (1.1217) and left open for weekend.
Early to bed, early to rise, keeps you healthy, wealthy and wise.
- #6,379
- Oct 11, 2014 5:23am Oct 11, 2014 5:23am
{quote} I went in with shorts 3 times from 1.1210.. And took profit around 74... Too easyyyyy
- #6,380
- Oct 11, 2014 9:03am Oct 11, 2014 9:03am
- Joined Mar 2007 | Status: Trader | 1,190 Posts
{quote} Good set up
thank you for your kind words and great insight.
PS: pleasantly surprised not one trader here has commented on my tiny trade size....weldone traders !!! it really shows maturity because everyone focused on what was important.
PPS: please checkout my reply to your question in my journal, thks.