Jack.Canadia's Trades | Forex Factory

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Jack.Canadia's Trades

  • #1
  • First Post: Edited 5:43pm Feb 3, 2015 5:30pm | Edited 5:43pm
No specific pair, commodity, index, or stock covered here. Just my thoughts, analysis, and trades.

My charts, on average, have the following:

21-bar SMA (Blue)
200-bar SMA (Magenta)
MACD (12,26,9)
RSI (21)

Let's have some fun!
  • #2
  • Feb 3, 2015 6:11pm Feb 3, 2015 6:11pm
EUR/USD Analysis - February 3, 2015

Follow the charts below in succession from Monthly, Daily, to Hourly.

I think we may be setting a bottom here.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDMonthly.png Size: 381 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 291 KB


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 468 KB
  • #3
  • Edited 10:01pm Feb 3, 2015 6:25pm | Edited 10:01pm
EUR/USD - Trade Idea (based on above)

Buy zone 1.1350 - 1.1365

My open orders:
Buy limits @ 1.1370, 1.1360, 1.1355
Stop Loss - 1.1310
Target - 1.1680 (just below 138.2 fib extension of the fib in the image)

No guarantees.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1 - Trade Idea.png Size: 428 KB
  • #4
  • Feb 3, 2015 10:12pm Feb 3, 2015 10:12pm
Crude Oil Analysis - February 3, 2015

Follow the charts below in succession from Monthly, Weekly, to Daily.

Just a small rally, or could it be more? Check the charts below. I'm turning bullish.

Attached Image (click to enlarge)
Click to Enlarge Name: CrudeOILMonthly.png Size: 257 KB


Attached Image (click to enlarge)
Click to Enlarge Name: CrudeOILWeekly.png Size: 297 KB


Attached Image (click to enlarge)
Click to Enlarge Name: CrudeOILDaily.png Size: 286 KB
  • #5
  • Feb 3, 2015 10:25pm Feb 3, 2015 10:25pm
Crude Oil - Trade Idea (based on above)

It's tough to really call a specific trade. Even more so a hard bottom.

Anyway, this is the first, IMO, meaningful rally amidst a huge sell off.

Check the chart for some ideas and be careful, this thing moves hard!

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: CrudeOILM1.png Size: 287 KB
  • #6
  • Feb 3, 2015 11:44pm Feb 3, 2015 11:44pm
Quoting jack.canadia
Crude Oil - Trade Idea (based on above) It's tough to really call a specific trade. Even more so a hard bottom. Anyway, this is the first, IMO, meaningful rally amidst a huge sell off. Check the chart for some ideas and be careful, this thing moves hard! {image} {image}
Caught a nice $0.35 move in oil on the breakout play above. Scaled out.

Entered 52.15
Exit 52.50
Rest in the money @ SL 52.25

Target $53.35 on the remainder.


Attached Image (click to enlarge)
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  • #7
  • Feb 3, 2015 11:56pm Feb 3, 2015 11:56pm
EUR/CHF - Trade Idea (Long)

Breakout play to the upside. Currently at a double top with 38.2% fib below from the entire drop down.

Stop no more than 20 pips away.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCHFM5.png Size: 27 KB
  • #8
  • Feb 4, 2015 11:36am Feb 4, 2015 11:36am
Crude Oil - Short Trade Idea

Just broke down through $50. Short a retracement to this level (around $49.95)

Target $48.90 (50% fib). See charts above for the fib levels.

Attached Image (click to enlarge)
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  • #9
  • Feb 4, 2015 3:29pm Feb 4, 2015 3:29pm
Quoting jack.canadia
EUR/USD - Trade Idea (based on above) Buy zone 1.1350 - 1.1365 My open orders: Buy limits @ 1.1370, 1.1360, 1.1355 Stop Loss - 1.1310 Target - 1.1680 (just below 138.2 fib extension of the fib in the image) No guarantees. {image}
Entered the zone.
Original buys were cancelled at the news release.
Looking to buy closer to 1.1330 at the trendline confluence

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 33 KB
  • #10
  • Feb 4, 2015 3:42pm Feb 4, 2015 3:42pm
Quoting jack.canadia
{quote} Entered the zone. Original buys were cancelled at the news release. Looking to buy closer to 1.1330 at the trendline confluence {image}
Found a bit of support at 1.1314 (50% fib from charts above)

Longed at 1.1325
Stop loss at 1.1295
Target open for now

Purely a technical call.
  • #11
  • Feb 4, 2015 3:54pm Feb 4, 2015 3:54pm
Quoting jack.canadia
{quote} Found a bit of support at 1.1314 (50% fib from charts above) Longed at 1.1325 Stop loss at 1.1295 Target open for now Purely a technical call.

I see a lot of new sell orders coming across the trades on FF for EUR/USD at these lows after a large sell off.

The absolute WORST time to sell is after a period of selling (which has already occurred). Now, you may make a few pips or there still may be another leg down to this, no one can predict really.

But, this is one reason a lot of us retail traders end up losing. We sell and buy when the smart money is probably doing the opposite.

I took a huge risk buying at 1.1325, but I had good reason too. A large move down into a 50% fib, 2 trendline confluence, and a 1-hr 200-SMA. Look at the 15 minute candles, looking bullish.

I'm not trying to boast, but take this as a lesson if you lose money. I'd rather lose money on a very good technical setup that just wasn't meant to be, than just clicking buttons when "I think" the market will do what I want it to. Not taking a trade is also a winning trade, because you didn't lose. Guessing in forex will blow your account.
  • #12
  • Feb 4, 2015 4:17pm Feb 4, 2015 4:17pm
Quoting jack.canadia
{quote} Found a bit of support at 1.1314 (50% fib from charts above) Longed at 1.1325 Stop loss at 1.1295 Target open for now Purely a technical call.
No need to risk capital now.

Stop at break-even, target open for now.
  • #13
  • Last Post: Feb 5, 2015 9:37am Feb 5, 2015 9:37am
Quoting jack.canadia
{quote} Entered the zone. Original buys were cancelled at the news release. Looking to buy closer to 1.1330 at the trendline confluence {image}
Spot on!!

My trade above stopped at break even, re-entered long last night at 1.1310

Going to let it run.

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