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  • #10,301
  • Jul 8, 2016 3:35am Jul 8, 2016 3:35am
Quoting bladerogers
{quote} Well what I see is PA being squeezed across the daily through monthly time frames. I am still not certain of it, but I'll watch and see what the wedge on the daily does before I make a decision. on the 4 hour and daily, the 20 sma consistently has been rejecting the 8ema crossover. On the weekly we are seeing the same thing, but in the opposite direction. Then on the monthly we are seeing yet again the same as the 4hr and daily along with divergence on the Stochastic and another indicator I have specifically for divergence/hidden divergence....
I agree. I hope that the US change in Non-farm Payrolls later today will bring some clarity to the situation.
  • #10,302
  • Jul 8, 2016 10:06am Jul 8, 2016 10:06am
Quoting dianajs
{quote} I agree. I hope that the US change in Non-farm Payrolls later today will bring some clarity to the situation.
Yeah, I don't pay attention to those. Well, I do pay attention to their timing, just not any of the rhetoric that comes from them. I just increase my stop on open trades (sometimes significantly) that may be affected or close out my position to avoid the noise. Then wait for technicals to appear.
  • #10,303
  • Jul 9, 2016 2:13pm Jul 9, 2016 2:13pm
I expect some whipsaw movement in USD cad next week unless we get a daily close above 1.3113

There is some good resistance up there in the 1.31 region.
Levels to watch next week for USDCAD pair.

For bullish bias to 1.3390
Long @ 1.2960/1.2900. Stop whatever you pefer :-)
Target 1.3390
Short term long to 1.3113
Long @ 1.2965/1.2930
Target 1.3113

for the short term longers.
The closer price get to 1.2875 if it corrects and moves away from that to the upside, then you have two targets.
Target 1: 1.3113
Target 2: 1.3250 area

But I wouldn't trade this pair now anyway.
For shorts?
No view yet.
  • #10,304
  • Jul 11, 2016 2:57am Jul 11, 2016 2:57am
Long term opportunity :

Attached Image (click to enlarge)
Click to Enlarge Name: cad.png Size: 49 KB
Money moves the market, not an indicator.
  • #10,305
  • Jul 11, 2016 8:24am Jul 11, 2016 8:24am
Quoting andoseg2
Long term opportunity : {image}
Agreed.
  • #10,306
  • Edited 9:02am Jul 11, 2016 8:46am | Edited 9:02am
Quoting bladerogers
{quote} Yeah, I don't pay attention to those. Well, I do pay attention to their timing, just not any of the rhetoric that comes from them. I just increase my stop on open trades (sometimes significantly) that may be affected or close out my position to avoid the noise. Then wait for technicals to appear.
I am the same. I don't follow the rhetoric very closely, I am mostly interested in the exact data released and its consequences because high impact news events like this tend to be very good at ending range, then I too wait for a good opportunity for technical analysis.
  • #10,307
  • Jul 12, 2016 5:20pm Jul 12, 2016 5:20pm
Does anyone have a good online news source on the upcoming BOC rate decision?
  • #10,308
  • Jul 12, 2016 6:08pm Jul 12, 2016 6:08pm
Quoting DollarNSense
Does anyone have a good online news source on the upcoming BOC rate decision?
Bloomberg, or the actual BOC website
TE started 6/4/19
  • #10,309
  • Jul 12, 2016 10:41pm Jul 12, 2016 10:41pm
Quoting Marz30
{quote} Bloomberg, or the actual BOC website
Thanks!
  • #10,310
  • Jul 12, 2016 11:40pm Jul 12, 2016 11:40pm
Quoting DollarNSense
Does anyone have a good online news source on the upcoming BOC rate decision?
Check out the WBP Terminal. It's Bloomberg for us regular folk haha.

My broker pays for my subscription for trading with them. Worth checking out.
  • #10,311
  • Jul 12, 2016 11:59pm Jul 12, 2016 11:59pm
Quoting Badem
{quote} Check out the WBP Terminal. It's Bloomberg for us regular folk haha. My broker pays for my subscription for trading with them. Worth checking out.
Too Rich for my blood!
  • #10,312
  • Jul 13, 2016 3:25am Jul 13, 2016 3:25am
Hi mate, Is your broker Vantage FX?? I have been using their News terminal for while now and it works really well.

Quoting Badem
{quote} Check out the WBP Terminal. It's Bloomberg for us regular folk haha. My broker pays for my subscription for trading with them. Worth checking out.
  • #10,313
  • Jul 13, 2016 11:06am Jul 13, 2016 11:06am
The BoC rate decision announcement today caused a 100 pips drop and USD/CAD is back to testing 1.2950. I think that if there's a breakout below that level it will continue dropping towards 1.2900 - 1.2870.
  • #10,314
  • Jul 13, 2016 11:26am Jul 13, 2016 11:26am
I think the sharp drop in crude can cancel out the effect of rate decision...
There's no harm in being smtm wrong especially if one is promptly found out
  • #10,315
  • Jul 13, 2016 11:41am Jul 13, 2016 11:41am
Quoting attilafx
I expect some whipsaw movement in USD cad next week unless we get a daily close above 1.3113 There is some good resistance up there in the 1.31 region. Levels to watch next week for USDCAD pair. For bullish bias to 1.3390 Long @ 1.2960/1.2900. Stop whatever you pefer :-) Target 1.3390 Short term long to 1.3113 Long @ 1.2965/1.2930 Target 1.3113 for the short term longers. The closer price get to 1.2875 if it corrects and moves away from that to the upside, then you have two targets. Target 1: 1.3113 Target 2: 1.3250 area But I wouldn't trade this...
So, there we are. Who's doing what right now?
I have picked up a small position in EURCAD long.
Checking USDCAD. I leave it for now but wouldn't be surprised to hold the levels I have mentioned before. Good long opp.

EDIT: Buy 1 in USDCAD. target 3113 and 3270
  • #10,316
  • Jul 13, 2016 2:25pm Jul 13, 2016 2:25pm
Quoting attilafx
{quote} So, there we are. Who's doing what right now? I have picked up a small position in EURCAD long. Checking USDCAD. I leave it for now but wouldn't be surprised to hold the levels I have mentioned before. Good long opp. EDIT: Buy 1 in USDCAD. target 3113 and 3270
I bought again at 1.2965 SL@ 1.2925. Target....none. I just move my stops to leave room to breath if it goes my way. I expect oil to continue down and take CAD along with it now. GL!
  • #10,317
  • Jul 13, 2016 6:06pm Jul 13, 2016 6:06pm
Quoting bladerogers
{quote} I bought again at 1.2965 SL@ 1.2925. Target....none. I just move my stops to leave room to breath if it goes my way. I expect oil to continue down and take CAD along with it now. GL!
closed out position with 8 pips I am not liking the way this looks to be unfolding now. Seeing signals of further fall. Going to hold off for a bit.
  • #10,318
  • Jul 13, 2016 6:23pm Jul 13, 2016 6:23pm
Quoting bladerogers
{quote} closed out position with 8 pips I am not liking the way this looks to be unfolding now. Seeing signals of further fall. Going to hold off for a bit.
Yea this pair would normally be going up right now its in an odd setup along with the USD/CHF and USD/JPY pairs.
  • #10,319
  • Jul 14, 2016 12:03am Jul 14, 2016 12:03am
Quoting DollarNSense
{quote} Too Rich for my blood!
Buy some USD/CAD to hold as a daily position. You won't have to say that anymore Dollar!

Quoting tomsmid
Hi mate, Is your broker Vantage FX?? I have been using their News terminal for while now and it works really well. {quote}
Yeah, that's the one. I actually saw the offer flash up on Forex Factory and nabbed it straight away. Heck I already trade with Vantage FX, why not!
  • #10,320
  • Jul 14, 2016 5:09am Jul 14, 2016 5:09am
I still have a short position and I don't think I will close it before USD/CAD reaches 1.2900.
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