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  • #7,861
  • Edited 9:10am Jun 18, 2015 8:56am | Edited 9:10am
Actually what's happening at this moment is quite interesting to go long I think. Hopefully to break the short term downtrend.
I went long anyway, if it would break 1.20860 I would confirm it's a downtrend. That's where I will put my s/l.

On a demoaccount btw, still learning. Copying at own risk
What's that smell? ---- I smell money!
  • #7,862
  • Jun 18, 2015 11:03am Jun 18, 2015 11:03am
Quoting Idkurv
{quote} multiply my lot size x4 risky trade, do not follow
Ok, my bad, impatience caused me to enter long early.
but now back to green.
will close partially at around 1.223, and might left some to run to 1.228
  • #7,863
  • Jun 18, 2015 11:09am Jun 18, 2015 11:09am
Quoting Idkurv
{quote} Ok, my bad, impatience caused me to enter long early. but now back to green. will close partially at around 1.223, and might left some to run to 1.228
lesson to learn: patience, patience, patience.
impatience costs pips!
  • #7,864
  • Jun 18, 2015 11:10am Jun 18, 2015 11:10am
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_4.gif Size: 148 KB
  • #7,865
  • Jun 18, 2015 11:11am Jun 18, 2015 11:11am
Quoting Idkurv
{quote} Ok, my bad, impatience caused me to enter long early. but now back to green. will close partially at around 1.223, and might left some to run to 1.228
2230 is realistic. Beyong that, I doubt for now. will probably bounce off DOL and further south....
  • #7,866
  • Jun 19, 2015 12:34am Jun 19, 2015 12:34am
Quoting FxLapozi
{quote} 2230 is realistic. Beyong that, I doubt for now. will probably bounce off DOL and further south....
yes, it might go further south to 1.20000.
I closed all my long now.
will see what happens next.

I think right now XAU and GU is more clear.

Btw what is DOL?
  • #7,867
  • Jun 19, 2015 12:35am Jun 19, 2015 12:35am
Quoting Dano12
{image}
Thanks for the chart Dano12.
Just curious are you trading by EWT?
Do you draw manually?
  • #7,868
  • Jun 19, 2015 1:14am Jun 19, 2015 1:14am
Quoting HareshBM
Any pull-back above 1.2310, possibly towards 1.2340-50 area for USDCAD, now seems to provide an opportunity to initiate fresh short-positions... The pair seems vulnerable to drop back below 1.2200 mark, possibly towards 1.2160-50 support area...
As was expected, the pair failed to conquer 1.2350 resistance and eventually dropped to 1.2130-35...
  • #7,869
  • Jun 19, 2015 1:18am Jun 19, 2015 1:18am
Оbviously the price is in the dowtrend channel and its boundary is not broken
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 50 KB
  • #7,870
  • Jun 19, 2015 3:39am Jun 19, 2015 3:39am
Quoting Idkurv
{quote} Thanks for the chart Dano12. Just curious are you trading by EWT? Do you draw manually?
manually

waiting for the CPI, the decision test of resistance or support
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_4.gif Size: 139 KB
  • #7,871
  • Jun 19, 2015 7:08am Jun 19, 2015 7:08am
Quoting Idkurv
{quote} yes, it might go further south to 1.20000. I closed all my long now. will see what happens next. I think right now XAU and GU is more clear. Btw what is DOL?
Daily Open Line
  • #7,872
  • Edited 11:54am Jun 20, 2015 11:02am | Edited 11:54am
the preferred scenario
and Plan B
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Click to Enlarge Name: Screenshot2.png Size: 102 KB
  • #7,873
  • Jun 20, 2015 11:17am Jun 20, 2015 11:17am
Quoting bingo60
the preferred scenario {image}
I have 7 shorts on UC
TP 21 1st then wait for rebound and enter again to 1.20
I believe as long as oil is 158-160 UC won't get lower then 1.20 but should oil break out to 1.65+ then UC will test below 1.20
Its unlikely because there is too much oil supply currently unless something changes.

1st major support is at 122.31 then 2167 zone
regards
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 39 KB
In trading, you have to be defensive and aggressive at the same time
  • #7,874
  • Jun 20, 2015 12:56pm Jun 20, 2015 12:56pm
Hi Dano,
Per your count, are we in the major C wave which could bring us down to potentially 1.1900.?
The currency pair did bounce off the 61.8% ret last Thursday with a Hammer formation. Could this has been it?

I have some thing similar, chart is attached.http://





Quoting Dano12
{image}
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ^USDCAD - iPattern - Jun-20 1652 PM (1 week).png Size: 146 KB
Click to Enlarge Name: ^USDCAD - iPattern - Jun-20 1657 PM (1 day).png Size: 185 KB
  • #7,875
  • Jun 21, 2015 2:11am Jun 21, 2015 2:11am
Quoting Davit
{quote} I have 7 shorts on UC TP 21 1st then wait for rebound and enter again to 1.20 I believe as long as oil is 158-160 UC won't get lower then 1.20 but should oil break out to 1.65+ then UC will test below 1.20 Its unlikely because there is too much oil supply currently unless something changes. 1st major support is at 122.31 then 2167 zone regards {image}
Saw a channel there but a retest of 2335 is possible.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 52 KB
​
Still, I think 2100 is inevitable.

Not In UC though at the moment.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4 (fxlapozi).png Size: 62 KB

I think it's a bit too early. UC might just bounce off 61.8 to North before further South movement. Then again, I might be wrong though.

I will place my Sell order at 234x or weekly pivot.
  • #7,876
  • Jun 21, 2015 11:02am Jun 21, 2015 11:02am
Quoting FxLapozi
{quote} Saw a channel there but a retest of 2335 is possible. {image}​ Still, I think 2100 is inevitable. Not In UC though at the moment. {image} I think it's a bit too early. UC might just bounce off 61.8 to North before further South movement. Then again, I might be wrong though. I will place my Sell order at 234x or weekly pivot.
Hi Lapozi
The way I trade is little different.Lets say I wanted to Trade 2lots on UC
I take 2lots break into .25 mini lots which gives me 8 possible entries.Advatage of progressive entries is that I can get better price should it go higher but should it go south at least I have decent position.Basically I have my positions in case this thing tanks.21will get hit soon.Not sure this week but it will get hit.
With +swap there is no worry holding on.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #7,877
  • Jun 22, 2015 1:39am Jun 22, 2015 1:39am
while in action plan A
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  • #7,878
  • Jun 22, 2015 4:12am Jun 22, 2015 4:12am
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_1.gif Size: 176 KB
  • #7,879
  • Jun 22, 2015 5:40am Jun 22, 2015 5:40am
It is my prognosis.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 19 KB
  • #7,880
  • Jun 22, 2015 5:50am Jun 22, 2015 5:50am
false breakout from the triangle - a test of support
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_1.gif Size: 183 KB
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