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  • #9,741
  • Apr 23, 2016 2:22pm Apr 23, 2016 2:22pm
Quoting ahmedfouad77
{quote} I just said "I think"...and "I might be wrong".....Con calma...!
Yeah well, it all depends on the timeframe you are considering.
If, for example, you were looking at the 1H, then I would agree that it's not trending at the moment, but on higher timeframes it is.
That downtrend on the 1W will have to end sooner or later though, so of course nothing is set in stone.
  • #9,742
  • Apr 23, 2016 2:28pm Apr 23, 2016 2:28pm
Quoting Xumm
{quote} Yeah well, it all depends on the timeframe you are considering. If, for example, you were looking at the 1H, then I would agree that it's not trending at the moment, but on higher timeframes it is. That downtrend on the 1W will have to end sooner or later though, so of course nothing is set in stone.
  • #9,743
  • Apr 24, 2016 8:41am Apr 24, 2016 8:41am
Now since many of you are Short, am LONG! (Monday market open to close)
In the event of a gap up, I won't play. If am wrong, oh well, it's been fun.
  • #9,744
  • Apr 24, 2016 8:54am Apr 24, 2016 8:54am
Quoting webizone
Now since many of you are Short, am LONG! (Monday market open to close) In the event of a gap up, I won't play. If am wrong, oh well, it's been fun.
Good luck with that trade.
What SL and TP do you think you will use?
  • #9,745
  • Apr 24, 2016 9:00am Apr 24, 2016 9:00am
Quoting Xumm
{quote} Good luck with that trade. What SL and TP do you think you will use?
I just felt I could place that trade with USD/cad since everyone is short. I rather be long USD/chf 'cos that's what I had in mind since Friday. Stop loss or Take profit? I am using binary options for that one
  • #9,746
  • Apr 24, 2016 9:37am Apr 24, 2016 9:37am
Quoting webizone
Now since many of you are Short, am LONG! (Monday market open to close) In the event of a gap up, I won't play. If am wrong, oh well, it's been fun.
If you are trading st you could be ok but longer term I still think 1.2 and then lower - maybe even parity is possible.
The uptrend of the last 5 years has turned - also look at the fundies - expectations of a rate hike in US are disappearing fast Canada is comfortable with current rates DXI is rolling over - Yeah we are overdue a significant retrace and we could see a bounce to 1.28/29, but the lt trend is down and I can't see any fundies changing that in near future. JMHO - gl anyway

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  • #9,747
  • Apr 24, 2016 9:45am Apr 24, 2016 9:45am
Quoting Sa7an
{quote} If you are trading st you could be ok but longer term I still think 1.2 and then lower - maybe even parity is possible. The uptrend of the last 5 years has turned - also look at the fundies - expectations of a rate hike in US are disappearing fast Canada is comfortable with current rates DXI is rolling over - Yeah we are overdue a significant retrace and we could see a bounce to 1.28/29, but the lt trend is down and I can't see any fundies changing that in near future. JMHO - gl anyway {image}
I agree Sa7an, I am short on USD/CAD on long term, more for technical reasons than fundamentals though.
Let's see where this pair will go next week... :nerd:
  • #9,748
  • Apr 24, 2016 9:46am Apr 24, 2016 9:46am
Quoting Sa7an
{quote} If you are trading st you could be ok but longer term I still think 1.2 and then lower - maybe even parity is possible. The uptrend of the last 5 years has turned - also look at the fundies - expectations of a rate hike in US are disappearing fast Canada is comfortable with current rates DXI is rolling over - Yeah we are overdue a significant retrace and we could see a bounce to 1.28/29, but the lt trend is down and I can't see any fundies changing that in near future. JMHO - gl anyway {image}
OK I am tempted to go short USD/CAD especially after seeing the thick white line on the ichimoku cloud price has to break early sessions Monday, if broken I may push for longs then. Thanks for the advice tho. My curious question: why do u use 'sa7an' as ur moniker?
  • #9,749
  • Apr 24, 2016 9:53am Apr 24, 2016 9:53am
Careful guys, 1.2500 is a strong support, look at montlhy candles, it was 4 consecutive candles, it needs a correction soon... could test 1.3000 again...then will fall again...
  • #9,750
  • Apr 24, 2016 9:55am Apr 24, 2016 9:55am
Quoting webizone
{quote} OK I am tempted to go short USD/CAD especially after seeing the thick white line on the ichimoku cloud price has to break early sessions Monday, if broken I may push for longs then. Thanks for the advice tho. My curious question: why do u use 'sa7an' as ur moniker?
No real reason - but I was in a lousy mood when I joined FF
  • #9,751
  • Apr 24, 2016 10:13am Apr 24, 2016 10:13am
Quoting Xumm
{quote} Why would 1.2500 be a strong support? Just because it's a round number? and the fact that there have been 3 consecutive red candles doesn't mean that it will retrace...it may happen, but it's more likely that it won't.
aproximately, we are talking high TF
  • #9,752
  • Apr 24, 2016 10:17am Apr 24, 2016 10:17am
it's pretty dangerous spot to enter short that's for sure, it's down already almost 2000 from swing high and trading into the congestion zone.
If you are going short now what kind of SL are you going to use? 250 points or 500 points? risk/reward is just not there. If you sold from the top good for you.
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  • #9,753
  • Apr 24, 2016 10:38am Apr 24, 2016 10:38am
Quoting asgcorp
it's pretty dangerous spot to enter short that's for sure, it's down already almost 2000 from swing high and trading into the congestion zone. If you are going short now what kind of SL are you going to use? 250 points or 500 points? risk/reward is just not there. If you sold from the top good for you. {image}
Agree - but I would zoom in first and look to sell below 26 with momentum on a pullback or above 27 with a 50pip stop depending on PA.

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  • #9,754
  • Apr 24, 2016 10:40am Apr 24, 2016 10:40am
Quoting asgcorp
it's pretty dangerous spot to enter short that's for sure, it's down already almost 2000 from swing high and trading into the congestion zone. If you are going short now what kind of SL are you going to use? 250 points or 500 points? risk/reward is just not there. If you sold from the top good for you. {image}



Cad and commodities currencies way overbought short term and banks need to run stops, also oil going back down again till 16.00-20.00 (last one impulse)
AUDUSD NZDUSD and strength on DX/US$ USDCAD, as well as commodity related stocks pullback
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  • #9,755
  • Apr 25, 2016 2:20am Apr 25, 2016 2:20am
Hi traders....I'm buy on usd/cad...@ 1.2678
SL ---> 1.262
TP1 ---> 1.281

Why...?
- 38.2% fibo since June 2011
- Support Zone (January to April 2015)
- Some low spikes in daily candle
- low of beraish chanel (1H chart)

Who is in, with me ?
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  • #9,756
  • Apr 25, 2016 9:09pm Apr 25, 2016 9:09pm
Quoting moto28
Hi traders....I'm buy on usd/cad...@ 1.2678 SL ---> 1.262 TP1 ---> 1.281 Why...? - 38.2% fibo since June 2011 - Support Zone (January to April 2015) - Some low spikes in daily candle - low of beraish chanel (1H chart) Who is in, with me ? {image}
I closed my position this morning with a loss of a few pips.. Too. Much sideways movement for me and I lost confidence in my plan. Definitely see a wedge forming up here.. Looks like its ready to break loose.. If we see a break to the downside I will most likely load up some shorts. If to the upside I shall wait and see how high it pushes
Trade like a sniper not a machine gun
  • #9,757
  • Apr 26, 2016 2:48am Apr 26, 2016 2:48am
Quoting Iglootrader
{quote} I closed my position this morning with a loss of a few pips.. Too. Much sideways movement for me and I lost confidence in my plan. Definitely see a wedge forming up here.. Looks like its ready to break loose.. If we see a break to the downside I will most likely load up some shorts. If to the upside I shall wait and see how high it pushes
Yes, also out this this mornig with a few pips lost....(the volatily slowed down suddenly !)
Waiting a better signal upside 1.27
  • #9,758
  • Apr 26, 2016 11:17am Apr 26, 2016 11:17am
Total pipe dream but stranger things have happened.

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  • #9,759
  • Apr 26, 2016 11:24am Apr 26, 2016 11:24am
Quoting JunkyFX
Total pipe dream but stranger things have happened. {image}
looks legit
  • #9,760
  • Apr 26, 2016 9:41pm Apr 26, 2016 9:41pm
Quoting tunera
{quote} looks legit
Going to put a tight leash on it. Been sitting on a 2650 long for days now. Don't feel like playing Russian roulette with Janet Yellen tomorrow. She has a lot more bullets than I do.
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