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USD/CAD

  • #9,221
  • Edited 11:46am Jan 28, 2016 11:35am | Edited 11:46am
Quoting user954
{quote} If it holds 1.37 and bounces in the 1.37 - 1.40 zone, then 1.46 - 1.47 area and above is in play. On the other hand if it cant hold 1.38, then 1.28 is in play . So all in all the loonie is one of the most interesting currencies to trade in the near future -- all jma


Today was an important day - Very high odds, price discovery for the next many weeks is complete at least as far as the top and bottom of the range for USDCAD over next weeks/months is concerned. That range is 1.39 to 1.47


If you had seen my sentiment on crude, I had posted a target of 34.5 for this week based on the predictions of my models.
Attached Image


That was hit earlier today and now we have a price range for crude over the next many weeks. That range is 27 to 35

With this important price discovery complete, using these ranges as a baseline would now enable several higher probability and profitable trades over the next several weeks.


Current and live specific insights can be gleaned from the live trades in my trade explorer
  • #9,222
  • Jan 28, 2016 8:00pm Jan 28, 2016 8:00pm
Quoting Ken A
{quote} Maybe 1.39x - 1.38x ? Daily {image}
Close some for +620 pips

Still 25% of the short running

Attached Image
  • #9,223
  • Jan 29, 2016 6:34pm Jan 29, 2016 6:34pm
Quoting Ken A
{quote} Close some for +620 pips Still 25% of the short running {image}
Ken, you got the cojones to hold this babe for so long! I salute you!
  • #9,224
  • Edited Jan 31, 2016 5:14am Jan 30, 2016 8:40am | Edited Jan 31, 2016 5:14am
http://www.forexfactory.com/showthre...83#post8721783

Attached Image (click to enlarge)
Click to Enlarge Name: USDCADH4.png Size: 27 KB



___________________________________________
>> Quinton’s Simple & Effortless Trading thread
  • #9,225
  • Jan 30, 2016 9:29am Jan 30, 2016 9:29am
Quoting Ken A
{quote} Close some for +620 pips Still 25% of the short running {image}
same +650pips but closed everything
anticipating oil testing below 32 prior of NFP pushing UC to 4150 area.Will be shorting this baby to 39
US economy is slowing down and this NFP could be even red considering floods and winter storms and Wall Street panic selling.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #9,226
  • Jan 30, 2016 3:15pm Jan 30, 2016 3:15pm
i am betting on oil price to come down again, when that happen, CAD will be down too!!
  • #9,227
  • Jan 30, 2016 11:09pm Jan 30, 2016 11:09pm
Quoting bluetoss
i am betting on oil price to come down again, when that happen, CAD will be down too!!
This could also help. http://www.forexfactory.com/news.php?do=news&id=576676.

On top of that, after that spike in the USD Friday, there is a little bearish signal in the cyclical studies. They can take a while to develop but I'd think it would play out this week or next.
Attached Image (click to enlarge)
Click to Enlarge Name: report 01-30-2016 22-05.png Size: 554 KB
When you hit 50, coffee becomes part of a proper modeling pipeline.
  • #9,228
  • Jan 31, 2016 4:15am Jan 31, 2016 4:15am
My view on the daily chart

looking for a possible entry in the blue box
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 16 KB
persistence and determination alone are omnipotent
  • #9,229
  • Jan 31, 2016 4:27am Jan 31, 2016 4:27am
Quoting Ll1979
My view on the daily chart looking for a possible entry in the blue box {image}
You mean entry for longs, I assume?

I'm still keeping my shorts open, since I think it will reach 1.3850.
  • #9,230
  • Jan 31, 2016 4:34am Jan 31, 2016 4:34am
Quoting mlawson71
{quote} You mean entry for longs, I assume? I'm still keeping my shorts open, since I think it will reach 1.3850.
Correct, i hope you reach your target
persistence and determination alone are omnipotent
  • #9,231
  • Jan 31, 2016 4:56am Jan 31, 2016 4:56am
Quoting mlawson71
{quote} You mean entry for longs, I assume? I'm still keeping my shorts open, since I think it will reach 1.3850.
i still see first .415x min before going lower then .389x
time will tell
Time is your friend; impulse is your enemy.
  • #9,232
  • Jan 31, 2016 5:11am Jan 31, 2016 5:11am
daily in a wave 5 and coming down hard, waiting to buy once confirmation received, think will go down to 1.38 at least , next major resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.PNG Size: 40 KB
  • #9,233
  • Jan 31, 2016 5:12am Jan 31, 2016 5:12am
Quoting mlawson71
{quote} You mean entry for longs, I assume? I'm still keeping my shorts open, since I think it will reach 1.3850.
Agreed on both, my daily show some decent support around 1.38100-38200, i have a pending long there and one at 1.40500 in case the oil spike happens quickly. already TP'd my shorts from earlier. Oil volatility could generate some big swings i believe.My crude daily shows a Friday Doji after the Thursday rally. In my opinion crude set up for small corrective drop back down Monday before moving higher again to top end of ranging 30-35 my opinion.
  • #9,234
  • Feb 1, 2016 5:12am Feb 1, 2016 5:12am
Quoting Amg63
{quote} Agreed on both, my daily show some decent support around 1.38100-38200, i have a pending long there and one at 1.40500 in case the oil spike happens quickly. already TP'd my shorts from earlier. Oil volatility could generate some big swings i believe.My crude daily shows a Friday Doji after the Thursday rally. In my opinion crude set up for small corrective drop back down Monday before moving higher again to top end of ranging 30-35 my opinion.
It's currently retracing because it couldn't break below 1.3950 but I think that's temporary, so I am still keeping the shorts open. Let's hope I am not making a mistake.
  • #9,235
  • Feb 1, 2016 5:37am Feb 1, 2016 5:37am
1.3964 is the first serious support since the fall from 1.46.

No short from here and I think most likely people will start to focus on March FOMC again.
Attached Image (click to enlarge)
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  • #9,236
  • Feb 1, 2016 9:38am Feb 1, 2016 9:38am
For short term is important how close today D candle if it close 1.40 or higher we might couple days see bulls.
  • #9,237
  • Edited 12:27pm Feb 1, 2016 12:17pm | Edited 12:27pm
Crude oil drop and UCAD did not rally

Why
  • #9,238
  • Feb 1, 2016 12:37pm Feb 1, 2016 12:37pm
Quoting Ken A
Crude oil drop and UCAD did not rally Why
Hi Ken,yes i noticed do not know why either. I cnx 40500. went manual from .3990-.4120 for a few so the day is not a waste.
been watching the USD index as well and left my lwr pending around .38100 in place. i still think that's strong support for a nice move up.we shall see. also short GBP/USD from .43802,not looking so good ATM. are you short GBP?
Thanks
  • #9,239
  • Feb 1, 2016 12:51pm Feb 1, 2016 12:51pm
Quoting Amg63
{quote} Hi Ken,yes i noticed do not know why either. I cnx 40500. went manual from .3990-.4120 for a few so the day is not a waste. been watching the USD index as well and left my lwr pending around .38100 in place. i still think that's strong support for a nice move up.we shall see. also short GBP/USD from .43802,not looking so good ATM. are you short GBP? Thanks
GBPUSD long from 1.415x
GBPAUD long from 2.002x
  • #9,240
  • Feb 1, 2016 1:11pm Feb 1, 2016 1:11pm
Longed USDCAD for a scalp trade.
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