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USD/CAD

  • #10,341
  • Jul 20, 2016 3:56pm Jul 20, 2016 3:56pm
Quoting dianajs
The pair bounced off 1.3095 and the last closed candlestick on the four-hour time frame is a doji, I think there will be a move to the downside towards 1.3000 - 1.2990.
I think this pair is headed down to the 1.30-1.2980 area, too. I'll be looking to add to my long position around there.
  • #10,342
  • Jul 20, 2016 3:57pm Jul 20, 2016 3:57pm
Quoting attilafx
Here the chart. See the similarity. Nice to start buying. {image}
Wasn't a shakeout, crude oil news hit there. At any rate it's the same result as support held and retracement will and is happening.
  • #10,343
  • Jul 21, 2016 3:53am Jul 21, 2016 3:53am
Quoting Bushi-pips
{quote} I think this pair is headed down to the 1.30-1.2980 area, too. I'll be looking to add to my long position around there.
The pair also formed a shooting star candlestick on the four-hour time frame but it is still consolidating sideways. Hopefully today it will start falling.
  • #10,344
  • Jul 21, 2016 8:21am Jul 21, 2016 8:21am
Quoting dianajs
{quote} The pair also formed a shooting star candlestick on the four-hour time frame but it is still consolidating sideways. Hopefully today it will start falling.
Any attempt to buy is to completely ignore the trend that started from the first month of the year. Regardless of Oil. This is a year long trend down.
The coincidental success is more dangerous than the expected failure
  • #10,345
  • Jul 21, 2016 9:21am Jul 21, 2016 9:21am
this is what i think
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADmicroH4.png Size: 70 KB
  • #10,346
  • Jul 21, 2016 9:36am Jul 21, 2016 9:36am
Quoting izzas
this is what i think {image}
The pattern is more complicated than simple trendlines.
The coincidental success is more dangerous than the expected failure
  • #10,347
  • Jul 21, 2016 9:45am Jul 21, 2016 9:45am
Quoting Neqrotik
{quote} The pattern is more complicated than simple trendlines.
well, maybe.. thanks for the reminder
  • #10,348
  • Jul 21, 2016 11:09am Jul 21, 2016 11:09am
Quoting Neqrotik
{quote} Any attempt to buy is to completely ignore the trend that started from the first month of the year. Regardless of Oil. This is a year long trend down.
Take a look at the monthly. Price could find some support here and move a few hundred pips higher short/medium term. But you're right that the move down from January was aggressive and that it should give caution to any bulls. This pair could breakdown and resume that trend at any time. Everything is all kind of relative to style, time frame, and trade duration though, isn't it?
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADMonthly.png Size: 40 KB
  • #10,349
  • Jul 21, 2016 2:41pm Jul 21, 2016 2:41pm
Quoting attilafx
1.31+ here we come. {image}
1.31

If they want to squeez the shorts really bad then they push it from here to 1.3360 without any correction.
  • #10,350
  • Jul 22, 2016 2:04am Jul 22, 2016 2:04am
But not so fast.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 111 KB
  • #10,351
  • Jul 22, 2016 5:05am Jul 22, 2016 5:05am
I can see that on the monthly chart, price just stood up from the 38.2% fib level, and this occurred after a bearish divergence, I believe that from next week. The uptrend will fully resume.......and also on the 4hr chart, the USDCAD is trading in a rising channel.....I price is able to cross the resistance level @1.135 level...then bulls will continue to push upwards
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCADMonthly.png Size: 61 KB
Click to Enlarge Name: USDCADH4.png Size: 83 KB
  • #10,352
  • Jul 22, 2016 8:09am Jul 22, 2016 8:09am
Quoting Biszhop
I can see that on the monthly chart, price just stood up from the 38.2% fib level, and this occurred after a bearish divergence, I believe that from next week. The uptrend will fully resume.......and also on the 4hr chart, the USDCAD is trading in a rising channel.....I price is able to cross the resistance level @1.135 level...then bulls will continue to push upwards {image} {image}
But hold on,
I went short.

Let's see from here.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD2.jpg Size: 181 KB
  • #10,353
  • Jul 22, 2016 9:23am Jul 22, 2016 9:23am
Quoting attilafx
{quote} But hold on, I went short. Let's see from here. {image}
hmmmm they took my stop quickly.

I guess some will get a visit from the SEC for manipulating FX
  • #10,354
  • Jul 22, 2016 9:25am Jul 22, 2016 9:25am
Quoting attilafx
{quote} hmmmm they took my stop quickly. I guess some will get a visit from the SEC for manipulating FX
divergence on oil and UCAD meeting resistance. Completion of 4th consolidation wave up on its way for the 5th down.
The coincidental success is more dangerous than the expected failure
  • #10,355
  • Jul 22, 2016 9:29am Jul 22, 2016 9:29am
Good.

The only problem with Divergence is that they can keep it running for days and days.

PS: Heading over to Cable now. Could have the same move up like we just saw with USDCAD :-)
  • #10,356
  • Jul 22, 2016 9:35am Jul 22, 2016 9:35am
well if u went short as at the time d CPI news was released then you ok...bt bear in mind that the price will resume its initial trend ...as it is doing ATM....I also went short. During the CPI news......take a look. @attilafx
Attached Image (click to enlarge)
Click to Enlarge Name: USDCADM15.png Size: 75 KB
  • #10,357
  • Jul 22, 2016 9:36am Jul 22, 2016 9:36am
good time to short longer term
  • #10,358
  • Jul 22, 2016 9:37am Jul 22, 2016 9:37am
Quoting attilafx
Good. The only problem with Divergence is that they can keep it running for days and days. PS: Heading over to Cable now. Could have the same move up like we just saw with USDCAD :-)
Even if today it took out the 5/24 high, the RR is so attractive now that entries here for shorts would be the safest move.
The coincidental success is more dangerous than the expected failure
  • #10,359
  • Jul 22, 2016 9:39am Jul 22, 2016 9:39am
Looking for a clean break of the pink box, a day or two t hold above and will buy the retest looking for a longer term swing up.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.png Size: 201 KB
  • #10,360
  • Jul 22, 2016 9:40am Jul 22, 2016 9:40am
nice movement
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