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USD/CAD

  • #8,381
  • Nov 16, 2015 7:50pm Nov 16, 2015 7:50pm
The USD/CAD could keep rallying if oil continues dropping. The trend is still bullish for the USD/CAD.
  • #8,382
  • Nov 16, 2015 9:19pm Nov 16, 2015 9:19pm
Quoting trademark
The USD/CAD could keep rallying if oil continues dropping. The trend is still bullish for the USD/CAD.
I agree, what kind of impact do you think a negative, or not as high as expected CPI report will do to speculator sentiment?
Trade like a sniper not a machine gun
  • #8,383
  • Nov 17, 2015 1:18am Nov 17, 2015 1:18am
Interesting triangle on Daily timeframe . Because the Trend is UP , I will look only for long trades .

Here the setup : confluence of prior Resistance that become now support (change of polarity) and Trend Line Support
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Money moves the market, not an indicator.
  • #8,384
  • Nov 17, 2015 7:56am Nov 17, 2015 7:56am
Wondering why the news caused a drop in price
Trade like a sniper not a machine gun
  • #8,385
  • Nov 17, 2015 10:46pm Nov 17, 2015 10:46pm
Looking for another big price swing tomorrow with the housing starts and FOMC minutes being released. I am a
little bit uneasy about the upcoming news as seeing how the CPI data didn't push the pair higher (as thought it would)

However, if the FOMC continues to come across as hawkish i could see the pair hit a new high of 1.33800
and to the flip side, low number of new housing starts and a dovish FED i wouldn't be surprised to see the bears, take the pair down to 1.32700

ill put the question out there, keep long position going into the news for tomorrow, or close position now while up a few pips, and hop back in on an established trend?

cheers!
Trade like a sniper not a machine gun
  • #8,386
  • Nov 19, 2015 5:04am Nov 19, 2015 5:04am
Selling usdcad only
COT: The precious data ignored
  • #8,387
  • Nov 19, 2015 3:25pm Nov 19, 2015 3:25pm
Quoting kuroro001
Selling usdcad only
Definitely more confident selling the Eur/Cad versus the USd/Cad
  • #8,388
  • Nov 19, 2015 3:45pm Nov 19, 2015 3:45pm
Quoting IveGotQuads
{quote} Definitely more confident selling the Eur/Cad versus the USd/Cad
Is that so? I don't Really trade Eur/cad too much tbh. I'm curious to see where this pair will go in the coming weeks to the big fed announcement. I tend to think the pair might bounce between some previous highs and lows.. Maybe still push through to our yearly highs if there is some better than expected news. Ultimately though I don't think there will be a rate hike and there is a looonng way down.
Trade like a sniper not a machine gun
  • #8,389
  • Nov 19, 2015 6:54pm Nov 19, 2015 6:54pm
Quoting Iglootrader
{quote} Is that so? I don't Really trade Eur/cad too much tbh. I'm curious to see where this pair will go in the coming weeks to the big fed announcement. I tend to think the pair might bounce between some previous highs and lows.. Maybe still push through to our yearly highs if there is some better than expected news. Ultimately though I don't think there will be a rate hike and there is a looonng way down.
I usually just scan around the pairs and look for opportunities although I must admit Gbp/Jpy is my fav pair. Take a look at this Pair as opposed to USD/CAD.... doesnt matter if you a naked chart trader with the double top formation or the huge pin bar/ bearish hammer , or the inside bar , or the flying buddha on the 4 hr charts... it all points downwards. of course this is all just probabilities but from experience this is high enough to warrant a trade or so
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  • #8,390
  • Nov 20, 2015 1:35am Nov 20, 2015 1:35am
USDCAD ===> above 32338 first target = 33450 main target 34562..
GL
do not stand out in the open with gun ;stand in the bushes with knife..
  • #8,391
  • Edited 3:40am Nov 20, 2015 3:07am | Edited 3:40am
Dont Trade this Pair so often but seem to be showing a good opportunity on higher TF charts

IMO

BULL case
- is very Weak; Too crowded trade; Overstreched to upside
- Heavy offers/supply above 1.3340 to 13450
- Needs break above Grade A RES 1.3350 to test september highs of 13456(a Grade AAA RES zone till sweet spot 1.35 )

BEAR CASE
- is good ; Multiple simple bearish patterns seen
- Just broke a H1/H4 TF bearish wedge to upside @ 1.3315 (looking fake..confirmation on break below 1.3315 again)
which is inside a D1 TF bearish wedge (which will confirm break breaching 1.3200 on downside)
which is inside W1 TF bearish wedge (which will confirm break breaching 1.3050 on downside)
- IMP levels are Grade B SUP 1.3280, Grade AA SUP 1.3210, Grade AA SUP 1.2930, Grade AAA SUP 1.2800
-being a pure commodity currency.. oil price volatility (prolly at inflection point) will give a direction

Will try posting some charts in a while

Lets WnWatch
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #8,392
  • Nov 20, 2015 3:52am Nov 20, 2015 3:52am
In Continuation of previous post..
Posted various charts below (dont wanna do duplicate posts)
http://www.forexfactory.com/showthre...34#post8602234

BTW
1.3315 breached back down.. H1/H4 bearish wedge Fake Breakout(nullification) confirmed
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #8,393
  • Nov 20, 2015 4:19am Nov 20, 2015 4:19am
H4 TF
Nice Pin Bearish Rejection & currently close to LOD
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100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #8,394
  • Nov 20, 2015 5:04am Nov 20, 2015 5:04am
Usd/Cad definitely a bullish trend on the weekly but may be going through a little retracements to the downside right now. Probably about 650 pips to be given to the bears. May reassess next week Monday. Done for the day with only 1 eur/cad surviving out of 8 entries. barely 13% , hopefully this stays alive. See you guys around and have a good weekend
  • #8,395
  • Nov 20, 2015 9:58am Nov 20, 2015 9:58am
got stung by a bee
  • #8,396
  • Nov 20, 2015 11:02am Nov 20, 2015 11:02am
Adding more shorts here
COT: The precious data ignored
  • #8,397
  • Nov 20, 2015 11:05am Nov 20, 2015 11:05am
Quoting kuroro001
Adding more shorts here
im thinking of going long since its pushing past some previous resistance on the 15m chart.

buy on the next dip maybe
Trade like a sniper not a machine gun
  • #8,398
  • Nov 20, 2015 11:12am Nov 20, 2015 11:12am
Quoting Iglootrader
{quote} im thinking of going long since its pushing past some previous resistance on the 15m chart. buy on the next dip maybe
I'm going small for now and see if i can spot strong sellers to add big

There were plenty of sellers on m15/m30 the past weeks, at some point they'll have to wake up
COT: The precious data ignored
  • #8,399
  • Nov 20, 2015 11:13am Nov 20, 2015 11:13am
Quoting kuroro001
{quote} I'm going small for now and see if i can spot strong sellers to add big There were plenty of sellers on m15/m30 the past weeks, at some point they'll have to wake up
yeah id agree with you on that
Trade like a sniper not a machine gun
  • #8,400
  • Nov 20, 2015 11:19am Nov 20, 2015 11:19am
sell limit 3360
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