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USD/CAD

  • #8,641
  • Dec 24, 2015 8:04am Dec 24, 2015 8:04am
Quoting a16908
Y is it going down any idea, even after soft data.....
look at wti. note that 1.40 is heavy resistance, and also, personal feeling here, CAD is way undervalued in my opinion.
  • #8,642
  • Dec 24, 2015 8:22am Dec 24, 2015 8:22am
Either cad is strong or chf weak if this scenario goes through. Next waves will differ from previous as it almost always does. purple line is just fantasy (cadchf)
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_CAD_CHF_Hourly_snapshot.png Size: 19 KB
  • #8,643
  • Edited 8:41am Dec 24, 2015 8:22am | Edited 8:41am
YEP down only down 1 61 1 75 fib
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCAD_4.gif Size: 194 KB
Click to Enlarge Name: USDCAD_d1.gif Size: 203 KB
  • #8,644
  • Dec 24, 2015 8:29am Dec 24, 2015 8:29am
Quoting a16908
Y is it going down any idea, even after soft data.....
Market moves because of buying/selling not just based on pure data. interpretation influences the buying/selling
  • #8,645
  • Dec 24, 2015 8:38am Dec 24, 2015 8:38am
It's headed for 1.3700, maybe even 1.3650.
  • #8,646
  • Dec 24, 2015 9:02am Dec 24, 2015 9:02am
Attached Image (click to enlarge)
Click to Enlarge Name: boobs.png Size: 48 KB
  • #8,647
  • Dec 24, 2015 9:30am Dec 24, 2015 9:30am
Looking for correction wave (Y) to end around 1.3750, 1.3700.
  • #8,648
  • Dec 26, 2015 2:23am Dec 26, 2015 2:23am
Go short??

Concerned about the candle sticks
1. Doji
2. Not perfect but nearly a Bullish Harmani Cross

Harmonic crab pattern
xd% 187.1% and bd% 261.32% meet the requirements of a completed crab pattern, but the bd% can still not be completed and have room to move to 361.8% [1.44312].

Fibonacci retracement of the cd leg:
cd 38.2 = 1.36296
cd 50.0 = 1.35146
cd 61.8 = 1.33996

MACD
Waiting for cross?

AC
Bearish

Fundamentals
Weak data released previous week
Oil?

Conclusion: No trade wait?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 37 KB
  • #8,649
  • Dec 26, 2015 9:03am Dec 26, 2015 9:03am
The price went not as I expected, but nothing bad happened because the stop order had been triggered. This transaction didn’t harm me much. I think that USD/CAD asset will go down.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 314 KB
  • #8,650
  • Dec 26, 2015 9:41am Dec 26, 2015 9:41am
Low volume these past few days...
  • #8,651
  • Dec 27, 2015 12:58pm Dec 27, 2015 12:58pm
Quoting garry30
The price went not as I expected, but nothing bad happened because the stop order had been triggered. This transaction didnt harm me much. I think that USD/CAD asset will go down. {image}
also considering to trade sell, waiting for macd cross on day chart, just bit worried about the volatility of oil ............ ?
  • #8,652
  • Dec 28, 2015 3:38am Dec 28, 2015 3:38am
Looking to sell at around 1.3920 -1.3930 if price gets there.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad-h1-peter pan.png Size: 50 KB
  • #8,653
  • Dec 28, 2015 3:59am Dec 28, 2015 3:59am
I actually opened a new long position at 1.3830, because I thought the pair would bounce off the support at 1.3820. So far so good, but I think I'll close them when it reaches 1.3880.
  • #8,654
  • Dec 28, 2015 8:30am Dec 28, 2015 8:30am
Quoting MJBhinder
Looking to sell at around 1.3920 -1.3930 if price gets there. {image}
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_1.gif Size: 180 KB
  • #8,655
  • Dec 28, 2015 1:53pm Dec 28, 2015 1:53pm
shorted @ 1.3903. hoping I didnt do it early as it is a high lev short
  • #8,656
  • Dec 29, 2015 7:43am Dec 29, 2015 7:43am
Indecision [ doji ]

Oil?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 40 KB
  • #8,657
  • Dec 29, 2015 8:13am Dec 29, 2015 8:13am
Quoting jpwtrade
Indecision [ doji ] Oil? {image}
Bull-trap holiday bull-shit
  • #8,658
  • Dec 29, 2015 8:33am Dec 29, 2015 8:33am
Quoting Darkforce
{quote} Bull-trap holiday bull-shit
Do not know what a bull-trap is and had to google .................

anyway still not 100% sure but due to my open short position hope you are right
  • #8,659
  • Dec 29, 2015 9:24am Dec 29, 2015 9:24am
Attachment
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_1.gif Size: 188 KB
  • #8,660
  • Dec 29, 2015 9:40am Dec 29, 2015 9:40am
Quoting jpwtrade
{quote} Do not know what a bull-trap is and had to google ................. anyway still not 100% sure but due to my open short position hope you are right
I think there's always bull cases and bear casea, but technically USDCAD is facing some serious selling now that we haven't seen in the past two month, just look at the down engulfing candles on the H4 chart I attached, and this selling is against a significant round number(RN) 1.4000, which makes this price action even more significant.

I think there's a case for a correction towards 1.35 for a 61.8% retracement of the movement since November.

If we see some fundamental supporting the run, then we might be moving back to 1.2850 or below.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 39 KB
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