Silent Service Method

Hi Chris, I am watching EURCAD @1.5, either for a break or a rebound.

European stocks are also suggesting a higher Euro. (Higher currency, lower stocks.)

DAX CFD:

Could be an interesting trade really. I would also watch oil to see how that does. We have Crude Oil Inventories coming out tomorrow, so this could be part of the reason for the move as well......(CAD highly influenced by oil.)

Chris

Another reason to think that the Euro will probably rise against the USD and CAD:

Breakout above 0.80 against the Pound is a strong move....

This is my ongoing trade on GBPUSD (entered on the bearish PB @ 1.44)

If the triangle is confirmed to be broken, a further downmove below 1.41 is possible i think. I 'll try to trail the SL as per your method.

Agreed. At the moment, I believe that there is significant support between 1.41 and 1.40....(A 100 pip support 'zone')

One of my favorite trades for ages has been shorting natural gas. This is what the weekly chart looks like at the moment. I have been using inverse ETFs to capitalize.

Interesting breakdown. We are seeing a lot of Japanese strength today, and the Loonie is of course a commodity currency. However, oil is positive.......so this is about safety more than anything else I suppose.....

CAD/JPY:

Very interested in this pair at the moment, I have support all the way down to the 0.79 level. Any bounce or supportive candle will have me buying....

12 hours later......starting to look like we are going to bounce.....

Closed GBP USD @1.41 with a nice profit.

Now watching USD CAD for a bearish PA @ 1.2850, aiming for 1.24

Yes, I was thinking that the 1.30 level in the USD/CAD pair could offer a bit of resistance on a bounce, but watch the crude oil markets. If oil falls, them more than likely we could get a bounce above that level. I fell that the expectations of the meeting on the 17th in Doha, Qatar is already starting to get 'baked into the price' when it comes to crude. WTI formed a pinbar today, which shows that we are running out of momentum in that market. This could produce a bounce that could find sellers above, but I have the 1.30 level as the top. I agree with a move down roughly 1.24 - I have 1.25 only because of the large round number aspect. But let's be honest, if we get to the 1.25 level, we are probably looking at a move even lower than you suspect. I think the next few days will be interesting to say the least.

I think that perhaps the oil markets are setting up for a 'sell the news' situation with Doha. If they do not agree to a production cut - the oil market is fucked. (Thus reversing this down move.) Only time will tell.

Chris

Today morning I took a short trade on USD CAD 4H PB, at 1.2850

Lets see if it goes south

Doha talks ended up producing nothing. Not a good sign for selling USD/CAD, at least in the short-term.

Unfortunately i didn't pay attention to that, and i was wiped out by the gap open.

Right now price came back to the entry point and i still have a bearish bias.



I am further waiting for a PA around 0.79 to go long on EURGBP

That EUR/GBP trade may just happen.......obviously, the USD/CAD trade was screwed over by the gap. I hate that shit with a passion. One of the most frustrating things about trading.

I agree, really frustrating!

I have just looked at USDCAD and it is going the right direction..... but it happens.