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USD/CAD

  • #9,241
  • Feb 1, 2016 11:17am Feb 1, 2016 11:17am
Quoting Ken A
{quote} GBPUSD long from 1.415x GBPAUD long from 2.002x
Good calls i got Stoped out on the G/U
  • #9,242
  • Feb 1, 2016 11:25am Feb 1, 2016 11:25am
Now we might see 1.3820 soon.
  • #9,243
  • Feb 1, 2016 11:31am Feb 1, 2016 11:31am
Im keeping eye on 3876
don't get in love with pairs ... up or down is the same pip value
  • #9,244
  • Feb 1, 2016 11:32am Feb 1, 2016 11:32am
any guess what caused the big drop just now?
  • #9,245
  • Feb 1, 2016 11:37am Feb 1, 2016 11:37am
Quoting Ken A
{quote} Close some for +620 pips

Still 25% of the short running {image}
Nice bonus

+727 pips

Attached Image
  • #9,246
  • Feb 1, 2016 12:25pm Feb 1, 2016 12:25pm
Quoting Ken A
{quote} Nice bonus +727 pips {image}
I wish I can say that one day. congrats and compliments
don't get in love with pairs ... up or down is the same pip value
  • #9,247
  • Feb 1, 2016 12:41pm Feb 1, 2016 12:41pm
Quoting Ken A
{quote} Nice bonus +727 pips {image}
we seem to be in sink
over +700pips but got in again on small rebound at 3930 area
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM30.png Size: 44 KB
In trading, you have to be defensive and aggressive at the same time
  • #9,248
  • Feb 1, 2016 12:43pm Feb 1, 2016 12:43pm
Quoting Hollyforex
Im keeping eye on 3876
3857 61fib should see some R if breaks 3713 is 100% and should bounce there
Much remains Weds NFP results.With snow and floods don't anticipate green numbers
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 40 KB
In trading, you have to be defensive and aggressive at the same time
  • #9,249
  • Feb 1, 2016 1:11pm Feb 1, 2016 1:11pm
Quoting Davit
{quote} 3857 61fib should see some R if breaks 3713 is 100% and should bounce there Much remains Weds NFP results.With snow and floods don't anticipate green numbers {image}
Thanks for sharing
and congrats to you too
"over +700pips but got in again on small rebound at 3930 area"
don't get in love with pairs ... up or down is the same pip value
  • #9,250
  • Edited 1:58pm Feb 1, 2016 1:41pm | Edited 1:58pm
it's going to be a good buy, oil is plummeting.

besides, Canada is talking about -ve interest rate now.

Last December, Bank of Canada governor Stephen Poloz gave a talk at the Empire Club of Canada in which he discussed four so-called unconventional monetary policies to desperately help stimulate the Canadian economy.

http://www.cbc.ca/news/canada/manito...nomy-1.3427828
  • #9,251
  • Feb 1, 2016 2:31pm Feb 1, 2016 2:31pm
Quoting Davit
{quote} we seem to be in sink over +700pips but got in again on small rebound at 3930 area {image}
I would have had hemorrhoids hanging on to those few first trades.....too much risk, but hey it worked out
  • #9,252
  • Feb 1, 2016 3:03pm Feb 1, 2016 3:03pm
Seems impossible to say where this thing is going to bottom out but I'm looking at the area around 1.3836 as a possibility. I have this as the weekly S1, and we also saw a bit of sideways PA in this zone back in December. Just waiting for a clear signal to go long.

I'm expecting this pair to just continue the slow drift down until at least Wednesday with the US data release in the morning. Then of course we have all the USD/CAD data on Friday. Looks to me that the anticipation of these releases are overriding the oil/CAD relationship to start the week as oil got crushed with little reaction from this pair. Still watching oil, however, as I'm thinking this pair could begin to turn if the oil rout resumes. In any case, this correction looks to be running out of steam.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADDaily.png Size: 40 KB
  • #9,253
  • Feb 1, 2016 3:59pm Feb 1, 2016 3:59pm
Quoting Compulsive
{quote} I would have had hemorrhoids hanging on to those few first trades.....too much risk, but hey it worked out
Hi C
I plan my trades and trade small.Everyone has different style but I prefer building positions on multiple entries rather 1 large order.The idea is that Price being a moving target one can never hit just right so takes 4-10 trades to harvest the position.Think of it as fish net.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #9,254
  • Feb 1, 2016 4:03pm Feb 1, 2016 4:03pm
Quoting Bushi-pips
Seems impossible to say where this thing is going to bottom out but I'm looking at the area around 1.3836 as a possibility. I have this as the weekly S1, and we also saw a bit of sideways PA in this zone back in December. Just waiting for a clear signal to go long. I'm expecting this pair to just continue the slow drift down until at least Wednesday with the US data release in the morning. Then of course we have all the USD/CAD data on Friday. Looks to me that the anticipation of these releases are overriding the oil/CAD relationship to start the...
Oil should find S at 30 and next leg should reach 38 pushing UC possible below 136
Oil still has lots of room for correction.
US economy is in precarious stage that which does not sit well considering paradigm of raising rates is countered by lowering by other major economies like Japan and EU.This needs to come in balance or we will have continued Wall street crushes.
regards
In trading, you have to be defensive and aggressive at the same time
  • #9,255
  • Feb 1, 2016 4:28pm Feb 1, 2016 4:28pm
Quoting Davit
{quote} Oil should find S at 30 and next leg should reach 38 pushing UC possible below 136 Oil still has lots of room for correction. US economy is in precarious stage that which does not sit well considering paradigm of raising rates is countered by lowering by other major economies like Japan and EU.This needs to come in balance or we will have continued Wall street crushes. regards
Oil dropped more than 6% today while CAD strengthened against USD, are market pricing in bad NFP number this Friday thus diminishing March hike by Fed?
  • #9,256
  • Edited 5:09pm Feb 1, 2016 4:46pm | Edited 5:09pm
Quoting Darkforce
{quote} Oil dropped more than 6% today while CAD strengthened against USD, are market pricing in bad NFP number this Friday thus diminishing March hike by Fed?
Hi D
Yes you are correct.If you noticed we had Red numbers throughout Jan other then superficial consumer confidence which means little....
We had floods and snow storms and serious Wall Street crushes.Very jittery month and market is projecting a Red NFP and USD is poised for corrections cross the board and Feds even if they wanted they can't raise rates while JPY and Euro are going on opposite trajectory.
Feds timing of hike was totally wrong and US economy will pay the price having to compete with strong dollar is weaker position to be in.
REgards
In trading, you have to be defensive and aggressive at the same time
  • #9,257
  • Feb 1, 2016 4:49pm Feb 1, 2016 4:49pm
GDP came in weak and the Fed may be pulling back from the assumed four rate hikes.
http://www.forexfactory.com/news.php?do=news&id=576676.

Did a little write up over the weekend as I've been watching/trading this.
http://www.forexfactory.com/showthre...31#post8723231

I'm hoping NFP comes in stronger than expected and maybe muddies the fundamental waters a little. I want to short this again just not from these levels.
When you hit 50, coffee becomes part of a proper modeling pipeline.
  • #9,258
  • Feb 1, 2016 5:03pm Feb 1, 2016 5:03pm
Quoting Davit
{quote} Hi D Yes you are correct.If you noticed we had Red numbers throughout Jan other then superficial consumer confidence which means little.... We had floods and snow storms and serious Wall Street crushes.Very jittery mouth and market is projecting a Red NFP and USD is poised for corrections cross the board and Feds even if they wanted they can't raise rates while JPY and Euro are going on opposite trajectory. Feds timing of hike was totally wrong and US economy will pay the price having to compete with strong dollar is weaker position to be...
Thanks for this analysis, Davit. Insightful.
  • #9,259
  • Feb 1, 2016 11:17pm Feb 1, 2016 11:17pm
Quoting Davit
{quote} Hi D Yes you are correct.If you noticed we had Red numbers throughout Jan other then superficial consumer confidence which means little.... We had floods and snow storms and serious Wall Street crushes.Very jittery month and market is projecting a Red NFP and USD is poised for corrections cross the board and Feds even if they wanted they can't raise rates while JPY and Euro are going on opposite trajectory. Feds timing of hike was totally wrong and US economy will pay the price having to compete with strong dollar is weaker position to be...
Hi Davit,
when you say "having to compete with a strong dollar is weaker position to be in" Are you saying the dollar will be the strong currency pair as in a long or the other pair will be stronger I.E USD/CAD going short. Fundamentally i see it same as you do (floods,snow Wall street,bad fourth quarter earnings.etc) i also expect lower NFP numbers but, as i have learned in the past that does not automatically move price as expected. I still have .38100 as strong support even thought it has not got there yet.
Thanks in advance for your opinion.
  • #9,260
  • Feb 2, 2016 11:22pm Feb 2, 2016 11:22pm
Hello there,
just started trading few months back.
as for current market USD/CAD
Here's my take.

Go Short on USDCAD M15 (Compression sell) as the price enter supply zone at 1.40977.
SL 1.40989.
TP 1: 1.40778 (easy 10-15pips)
TP 2: 1.40475 (if you have the guts to swing)

Layer the short entry in the supply zone.

managed to get few hundreds pips.

Cheers!
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