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Quoting Darkforce
B Technicals do not work, this is pure extreme sentiment driven by fear, not fundamentals. It takes blood to wake up lost souls, let blood be showering on us now, come on! {image}
My thoughts exactly. The question is... when will it stop lol
Quoting mlawson71
I agree, the bullish trend is so strong, opening shorts is taking a huge risk.
I agree, there's no immediate signs of this pair reversing. Oil is down, again with no sign of return. US economy is gaining some. Confidence Will be going long at the bottom of the next pullback
Trade like a sniper not a machine gun
Smahed 30% from this bad boy yesterday, 3 pip stop and trailed it, eventually i was stopped out at around 1.4285 before it went up further, i moved my SL to 5 pips off just incase and ouch oh well happy with 30% high volume trade, also missed a long because i hesitated at 1.4170 :/
This pair reminds me how the USD/JPY used to behave...
next speak news = exs boc gov carney can speak. becarefull to this pair (usdcad) or gbpcad
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_d1.gif Size: 178 KB
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_1.gif Size: 185 KB
Sold!
Quoting arigoldman
Sold!
You sold USD/CAD? can you explain why will it come down from here?
http://www.bloomberg.com/news/articl...-as-oil-slides

Saudi debt problem may implode sooner than us thought.
It's a mess, everybody is buying usd, the great trade of the year, the more it go up the more it is bought..

Oil, cad, gbp, to name a few, all at 10-15 years extreme compared to usd, the situation is hot right now, many of us are trying to catch a top, and if correctly catched can give a great reward.

But in the meantime the market is emotional driven now, there are no really foundamental justifications for such a parabolic movements, it's all technical.
Bulls are pushing as strong as possible, stops getting popped everyday, and the buy mantra being spoken all the time.

The usd now is in a sort of bubble, it will burst sooner or later, we don't know when yet.
how can everyone be buying? there's two sides to every trade. Trend is your friend.
Si vis pacem, para bellum.
Quoting tunera
It's a mess, everybody is buying usd, the great trade of the year, the more it go up the more it is bought.. Oil, cad, gbp, to name a few, all at 10-15 years extreme compared to usd, the situation is hot right now, many of us are trying to catch a top, and if correctly catched can give a great reward. But in the meantime the market is emotional driven now, there are no really foundamental justifications for such a parabolic movements, it's all technical. Bulls are pushing as strong as possible, stops getting popped everyday, and the buy mantra being...
Human memory are so short term based.

in May 2015, when Chinese stock market hit 5178 level without meaningful fundamental support, market pundits came up with all sorts of "excuses", then it imploded and fall to 2850 within a few weeks.

Now everybody's chanting "USD, yeah!" while market data certain do not support such bullishness, it will be a bloodbath when the day of reckoning comes.
Does anybody really know what's going on in China? The only thing for certain is that they have well over a billion people...and they gotta eat, work, live. A slow economy there is better than our best economy.
Si vis pacem, para bellum.
Quoting Darkforce
{quote} Human memory are so short term based. in May 2015, when Chinese stock market hit 5178 level without meaningful fundamental support, market pundits came up with all sorts of "excuses", then it imploded and fall to 2850 within a few weeks. Now everybody's chanting "USD, yeah!" while market data certain do not support such bullishness, it will be a bloodbath when the day of reckoning comes.
Yes indeed there will be such a nice squeeze one day, point is.. we don't know if it will be today or next month.
And we don't know how long the market will continue to go untill the bubble pop, can still go 50pips or 500 pips or 5000.

I guess.. maybe going with the trend is not such a bad idea after all.
It is extraordinary that USDCAD has been rising 9 days consecutively, this only happened twice in the past ten years, the record is 12 days in 2008 during the high of the crisis.
follow the oil slick and you'll find the loonie.
Si vis pacem, para bellum.
Quoting tunera
{quote} Yes indeed there will be such a nice squeeze one day, point is.. we don't know if it will be today or next month. And we don't know how long the market will continue to go untill the bubble pop, can still go 50pips or 500 pips or 5000. I guess.. maybe going with the trend is not such a bad idea after all.
"The market can stay irrational longer than you can stay solvent", yeah?

Trading the trend at these level if you are not already in is not very straight forward too, I guess market will want to test all targets all the way to 1.6 with all RN, all pivotal levels, a few past P/A levels and stall and reverse at one of them. So far, none of the "level" that we seen as a potential reversal or retracement level worked, the market is crazy rightnow.
Quoting tunera
It's a mess, everybody is buying usd, the great trade of the year, the more it go up the more it is bought.. Oil, cad, gbp, to name a few, all at 10-15 years extreme compared to usd, the situation is hot right now, many of us are trying to catch a top, and if correctly catched can give a great reward. But in the meantime the market is emotional driven now, there are no really foundamental justifications for such a parabolic movements, it's all technical. Bulls are pushing as strong as possible, stops getting popped everyday, and the buy mantra being...
i don't think it is technical. technicals across many pairs are calling for reversal far as I can see.
Quoting Duce
Does anybody really know what's going on in China? The only thing for certain is that they have well over a billion people...and they gotta eat, work, live. A slow economy there is better than our best economy.
China economy is ok, and they will maintain 7%+ growth rate for at least another ten years simply because the huge private sector save rate and the huge potential in service sector.

Chinese stock market is so volatile because it is a mob market similar to US in the beginning of 20th century, the majority of the market players are amateur individuals not professionals and institutions, therefore it is particularly sceptic to fear driven selling that create huge swings. Noting major, if you look at 10/15/20 performance relative to US stock market, the Chinese stock market still out performs with a huge margin, reflecting its growth fundamental.
Darkforce, i agree with your statement. But for me, the trend has been up for 4 years...and up from last summer.

If you're scalping / day trading...good luck.
Si vis pacem, para bellum.
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