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USDCAD trend reversal?

  • #4,461
  • Mar 2, 2015 7:24pm Mar 2, 2015 7:24pm
Too much news this week for me.

Just going to sit & wait. I don't speculate any more.

Took me too many years & losses to realize that no position is a position.:nerd:

Candles that I viewed had long wicks in both directions

I shall let the big guys (read PA) tell me how to make $$$$$$
  • #4,462
  • Mar 5, 2015 9:01pm Mar 5, 2015 9:01pm
Quoting Scarecru
Too much news this week for me. Just going to sit & wait. I don't speculate any more. Took me too many years & losses to realize that no position is a position.:nerd: Candles that I viewed had long wicks in both directions I shall let the big guys (read PA) tell me how to make $$$$$$


NFP should give direction Especially if triangle break up/down

Cdn banks have posted end of 2015 projections for U/Cad.

I be watching PA
  • #4,463
  • Mar 6, 2015 6:17pm Mar 6, 2015 6:17pm
Quoting Scarecru
{quote} NFP should give direction Especially if triangle break up/down Cdn banks have posted end of 2015 projections for U/Cad. I be watching PA

Glad I sat out this week.

NFP: break of what I perceived a descending triangle on Dly triggered buystop (@2540).

continuation pattern according to experts

Loonie news wasn't great this a.m. & US exceeded expectations.

MY bias is to be long U/Cad for the year.

The major Cdn banks have low 1.26 to high 1.33 for U/cad @Dec 2015 (they do all the analysis re: fundies & tekkies,I hope)

These are the parameters that I AM following .

My STOP LOSS is 1.2350 & MOVING.

I intend to buy the dips in the uptrend.

This is LONG TERM trading NOT day trading. CAVEAT :nerd:

KEEP YOUR STICK ON THE ICE!
  • #4,464
  • Mar 6, 2015 7:23pm Mar 6, 2015 7:23pm
Quoting Scarecru
{quote} low 1.26 to high 1.33 for U/cad @Dec 2015 (they do all the analysis re: fundies & tekkies,I hope) LONG TERM trading CAVEAT :nerd: KEEP YOUR STICK ON THE ICE!
Going for buy stops @ highs of the Dly descending triangle.

PMs only for now.
Thanks
  • #4,465
  • Mar 6, 2015 8:05pm Mar 6, 2015 8:05pm
Anyone have knowledge re: setting up a TFSA to trade forex?
  • #4,466
  • Mar 6, 2015 10:15pm Mar 6, 2015 10:15pm
Quoting Scarecru
{quote} NFP should give direction Especially if triangle break up/down Cdn banks have posted end of 2015 projections for U/Cad. I be watching PA
Just a couple charts for you to look at , buying the dips strategy has been awesome since the start of 2013 lol, Currently we have had a daily close slightly above a bull flag. We are about at some monthly resistance tho the market should start cracking away at it with the good nfp number this month. Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: Cad daily.jpg Size: 363 KB
Attached Image (click to enlarge)
Click to Enlarge Name: Cad monthly.jpg Size: 260 KB
  • #4,467
  • Mar 6, 2015 11:00pm Mar 6, 2015 11:00pm
Quoting digger1
{quote} Just a couple charts for you to look at , buying the dips strategy has been awesome since the start of 2013 lol, Currently we have had a daily close slightly above a bull flag. We are about at some monthly resistance tho the market should start cracking away at it with the good nfp number this month. Good luck. {image} {image}
i agree.. nice one
  • #4,468
  • Mar 7, 2015 5:25pm Mar 7, 2015 5:25pm
Digger: Beauty post & charts.

Bias long, but watching Mthly resistance.
In FX,patience is indeed a virtue!

Green pips to you & liam
  • #4,469
  • Mar 8, 2015 9:38am Mar 8, 2015 9:38am
1.2644 would be interesting condition. its confluence the maximum price of last leg for bearish bat pattern with strong intraday resistance level and could retrace as far 2542 and 2438 as its locked to go lower than that by fundie.
  • #4,470
  • Mar 8, 2015 9:13pm Mar 8, 2015 9:13pm
Quoting Sants
1.2644 would be interesting condition. its confluence the maximum price of last leg for bearish bat pattern with strong intraday resistance level and could retrace as far 2542 and 2438 as its locked to go lower than that by fundie.
Sants: thanks for your input. PLEASE HELP WRT (bearish bat pattern-is this Gartly?)Your info re: "locked to go
lower than that by fundie"

Appreciate your answers to help us other traders.
  • #4,471
  • Mar 10, 2015 6:54pm Mar 10, 2015 6:54pm
3 buys active

2 buy stops @ 2693 & 2722
  • #4,472
  • Mar 11, 2015 4:49pm Mar 11, 2015 4:49pm
2798 (Jan 30 hi) neared. Will it break?

moved stops to BE plus 20
  • #4,473
  • Edited 7:48pm Mar 11, 2015 6:30pm | Edited 7:48pm
interesting info from another site:nerd:

Cad jobs report Fri.. May close longs & take profit ( watch 2800 from sidelines)

If strong mayhaps E/Cad sell

If weak,Beaver sell

Jobs still fleeing Alberta Most jobs Part Time.
Mthly RSI o/b

Watching PA for direction
  • #4,474
  • Mar 11, 2015 7:56pm Mar 11, 2015 7:56pm
Quoting Scarecru
interesting info from another site:nerd: Cad jobs report Fri.. May close longs & take profit ( watch 2800 from sidelines) If strong mayhaps E/Cad sell If weak,Beaver sell Jobs still fleeing Alberta Most jobs Part Time. Mthly RSI o/b Watching PA for direction
Please post in the other USDCAD thread. You have good contribution and there is no point to have it overlooked by staying in this thread.
  • #4,475
  • Mar 11, 2015 9:26pm Mar 11, 2015 9:26pm
Jules: thank you for your kind wordsl

I shall stay HERE thanks.
I look @ various sites for info in order to make MY trades.

I believe that I mentioned too much noise to you.

Check past posts for ant&grasshopper cuz that is what is happening re: loonie IMHO
  • #4,476
  • Mar 13, 2015 9:23pm Mar 13, 2015 9:23pm
WOW: 1K JOB LAYOFFS @ HUSKY OIL


NEW HIGH-CANADIAN DEBT TO RATIO 163.3 % stats can

i am watching 1.28xx

ant&grasshopper really applying to Ontario/Canada
  • #4,477
  • Mar 16, 2015 8:36pm Mar 16, 2015 8:36pm
cenetti: thanks for your patience. I hope that trading has been good to you & this post may assist you.

If you put a Mthly chart up. U/CAD

2009/3 is start of downtrend.
2014/1,2,3 Resistance approx 1.28xx

I shall wait the FOMC statement for MY trade (PA tells me- not vice versa).

The last CFTC was increasing US$ bull.

I left exciting (i.e. emotional) trading for boring PA trading

Even BIG HEDGE FUNDS succumb to emotional trading habits.
  • #4,478
  • Mar 17, 2015 10:14pm Mar 17, 2015 10:14pm
probable poutine trade

chf news & monthly fibs

noting 14/03
  • #4,479
  • Mar 19, 2015 4:51pm Mar 19, 2015 4:51pm
bought loonie @ 1.2583 closed @ 1.2711
  • #4,480
  • Mar 19, 2015 8:15pm Mar 19, 2015 8:15pm
BuyStop@2151 & 2834

Subject to change wrt COT tomorrow.

News always confounded me. Yesterday,FOMC -with what I read is one word (patient or patience depending on the blog)

resulted in a Loonie sell.(read U/Cad)

IMHO: knee jerk reaction;

i shall see Friday.
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