Attachments: USD/CAD

USD/CAD

#9,161
Jan 22, 2016 7:14am Jan 22, 2016 7:14am

Darkforce
| Joined Feb 2011 | Status: Trader | 1,237 Posts

Quoting Dano12

Disliked

{quote} I waiting CADCore CPI m/m-0.3%-0.3% CADCore Retail Sales m/m0.4%0.0% CADCPI m/m-0.4%-0.1% CADRetail Sales m/m

Ignored

FOMC next week, broad dollar weakness at the moment, but could fade near or after FOMC.

Once price gets back to 1.45, then the PA could tell us whether there is a long term top in place or not.

#9,162
Jan 22, 2016 7:39am Jan 22, 2016 7:39am

Darkforce
| Joined Feb 2011 | Status: Trader | 1,237 Posts

Core CPI -0.4%
CPI -0.5%

How is that possible when CAD is so low?!

Wage collapse?

#9,163
Jan 22, 2016 8:29am Jan 22, 2016 8:29am

Ken A
Joined Jun 2012 | Status: ケンジ | 21,416 Posts

Quoting Ken A

Disliked

Took a short at 1.466x risk 10 pips Worth a try

Ignored

Still holding half of the short

+500 pips so far

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#9,164
Jan 22, 2016 8:38am Jan 22, 2016 8:38am

tashkent
Joined Oct 2011 | Status: quo | 4,193 Posts

Demo Hero

As Above, So Below

#9,165
Jan 22, 2016 8:40am Jan 22, 2016 8:40am

voty
Joined Sep 2015 | Status: Aspiring Trader | 326 Posts

Quoting Ken A

Disliked

{quote} Still holding half of the short +500 pips so far {image}

Ignored

Good job! For me I closed with less than 100. Thought the uptrend is to strong to be stopped so easily hmm.

buying tops / selling bottoms

#9,166
Jan 22, 2016 8:49am Jan 22, 2016 8:49am

Dano12
Joined Nov 2012 | Status: Trader | 5,895 Posts

Quoting Darkforce

Disliked

{quote} FOMC next week, broad dollar weakness at the moment, but could fade near or after FOMC. Once price gets back to 1.45, then the PA could tell us whether there is a long term top in place or not.

Ignored

for those who were late with shorts, H4 or D1 wait for waves of B correction ABC

#9,167
Jan 22, 2016 9:00am Jan 22, 2016 9:00am

TheFxAnalyst
Joined Jan 2016 | Status: back to the lab again | 425 Posts

well I hated to do it but I had to close my shorts out, needed to book that profit. I'm going to be amazed if we don't see some of these prior levels tested again between now and next month, I'll get short again if it slides back up in there. If it keeps plunging south I'll have left a lot of money on the table, just hard to walk away from good gains.

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When you hit 50, coffee becomes part of a proper modeling pipeline.

#9,168
Jan 22, 2016 9:23am Jan 22, 2016 9:23am

Mr.Boris
| Joined Dec 2015 | Status: Trader | 53 Posts

lets see if we can get to 1.4000

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#9,169
Jan 22, 2016 9:48am Jan 22, 2016 9:48am

james1254
| Joined Sep 2015 | Status: Trader | 1,232 Posts

I think it will mostly likely reach 1.4000 and in my opinion it will probably fall even lower, towards 1.3900 - 1.3800.

#9,170
Jan 22, 2016 10:00am Jan 22, 2016 10:00am

realdream333
| Joined Jan 2013 | Status: Trader | 43 Posts

Based on todays close, looking good for a bearing engulfing on the weekly- 1.41664

#9,171
Jan 22, 2016 10:03am Jan 22, 2016 10:03am

Conscript
| Joined Oct 2015 | Status: Trader | 151 Posts

Quoting Conscript

Disliked

Looks like we are going for 1.40-1.41

Ignored

deleveraged a bit at 1.412 we are close to the bottom now, expecting this to stay between 1.469-1.40 until march when it will make a new high. I will add more shorts then with target of 1.30

#9,172
Jan 22, 2016 10:11am Jan 22, 2016 10:11am

FXClarity
Joined Jan 2016 | Status: Trader | 952 Posts

Quoting TheFxAnalyst

Disliked

well I hated to do it but I had to close my shorts out, needed to book that profit. I'm going to be amazed if we don't see some of these prior levels tested again between now and next month, I'll get short again if it slides back up in there. If it keeps plunging south I'll have left a lot of money on the table, just hard to walk away from good gains. {image}

Ignored

Probably a good call - its been an easy slide down and 500 pips in 48 hours isn't to be sniffed at - well done

I've covered a few of the shorts taken above 1.4665 but am still holding the short bias, the easy money has been made...soon the twists and turns will come.

Hope you all have a great weekend

#9,173
Jan 22, 2016 5:33pm Jan 22, 2016 5:33pm

user954
Joined May 2015 | Status: Trader | 117 Posts

Report for the week ending Jan 22 2016

USDCAD got way overbought and had an exhaustion climax buying to just under 1.47 and then reversed strongly.

Whilst momentum on the daily and weekly charts is strongly positive, lower timeframes like the 240 min and 480 minutes have tradeable negative momentum that should see it test down to 1.38 to 1.40 area next week.

Trading strategy for the next two weeks will be to stay short until support is found in this zone and then go long for a retest of at least 400 to 600 pips back up

For real time trades refer to my trade explorer

#9,174
Jan 23, 2016 12:43pm Jan 23, 2016 12:43pm

Iglootrader
| Joined Nov 2015 | Status: Trader | 71 Posts

I also believe there is still a bit further down for this pair to go seeing how oil has rallied. I entered a bit later than i would've liked,
(Its hard to have a handle on the markets and trades while being in construction!)

Sold USD @ 1.4117 early friday and hoping to see some more bearish action on the pair on open.

I think the storm in N/E USA will have an impact on oil. hopefully injecting some more demand into the market.

Trade like a sniper not a machine gun

#9,175
Edited 8:43pm Jan 23, 2016 7:56pm | Edited 8:43pm

skyhok
Joined Feb 2014 | Status: Trader | 1,796 Posts

Quoting skyhok

Disliked

SHS & abc with the c heading down to 1.4140 area.

Ignored

Close to estimation of a wave (a).

Elliott Wave for optimum entry, exit and risk management of trades

#9,176
Jan 24, 2016 4:42am Jan 24, 2016 4:42am

Ken A
Joined Jun 2012 | Status: ケンジ | 21,416 Posts

Quoting voty

Disliked

{quote} Good job! For me I closed with less than 100. Thought the uptrend is to strong to be stopped so easily hmm.

Ignored

Maybe 1.39x - 1.38x ?

Daily

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#9,177
Jan 24, 2016 9:03am Jan 24, 2016 9:03am

ktoTam
| Joined Dec 2013 | Status: Trader | 280 Posts

also have few shorts .42022 and will add more near this level sl just above .42278
will close one or two .40514 for covering sl if not s/o before
tp .38541 min

Time is your friend; impulse is your enemy.

#9,178
Jan 24, 2016 9:14am Jan 24, 2016 9:14am

TheFxAnalyst
Joined Jan 2016 | Status: back to the lab again | 425 Posts

Quoting FXClarity

Disliked

{quote} Probably a good call - its been an easy slide down and 500 pips in 48 hours isn't to be sniffed at - well done I've covered a few of the shorts taken above 1.4665 but am still holding the short bias, the easy money has been made...soon the twists and turns will come. Hope you all have a great weekend

Ignored

Clarity I don't think fundamentally there is anything wrong with hanging on to those shorts. It may gyrate around for a while but I'm going to be surprised if we don't see a shift to a more bearish attitude over the next few months. I would think by summer you'll be in very good shape with them.

When you hit 50, coffee becomes part of a proper modeling pipeline.