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USD/CAD

  • #10,701
  • Oct 10, 2016 11:17am Oct 10, 2016 11:17am
here's the error in this trade: slow market because London closed, US & CAD holiday, so correlations here will not be as likely to be typical and there was a strong move and the party is over, so I made a mistake trading in the face of these factors.
big money makes big moves and then hides during small money chasing.
  • #10,702
  • Oct 10, 2016 1:32pm Oct 10, 2016 1:32pm
I am down 400+ pips, any suggestions? I bought overnight and not sure if I should keep it in.

Thanks guys!
  • #10,703
  • Oct 10, 2016 6:58pm Oct 10, 2016 6:58pm
there is a TL around 1.288, my TP atm on my sell is 1.303
  • #10,704
  • Oct 10, 2016 7:54pm Oct 10, 2016 7:54pm
Quoting USD-charts
{quote} Am I one of the few who see it dropping?

right cad now weak nice to you
onorebate
  • #10,705
  • Oct 11, 2016 5:26am Oct 11, 2016 5:26am
Hi guys, have look at my intraday trading levels for USD/CAD. they are based mostly on volumes made by big players and price action. I also make levels for other fx pairs. Have look at my table. If you want you can join my thread here on forex factory.
happy trading.
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Attached Image
  • #10,706
  • Oct 11, 2016 9:15am Oct 11, 2016 9:15am
Short limit from the hourly level

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #10,707
  • Oct 11, 2016 10:46am Oct 11, 2016 10:46am
Nice chart, thanks for posting. Oil lower, but at support here at London close.
big money makes big moves and then hides during small money chasing.
  • #10,708
  • Oct 11, 2016 3:39pm Oct 11, 2016 3:39pm
Quoting corrman
things sure can change rapidly... so I added size on the pullback as I was approaching stop out area of original entry because oil while falling, didn't follow thru down, so my original reason for entry was still valid. The typical correlation isn't working out for me because CAD is diverging here with oil, so I'll be needing a lot of help from the pb in USDJPY, I'll need a rise in EURUSD, and if I get lucky, a convergence with CAD as oil rises, but it's not looking good, I may be taking a loss, we'll see.
So how did it go?
  • #10,709
  • Oct 12, 2016 1:45am Oct 12, 2016 1:45am
Level was destroyed, no more orders there, in the night. Now two limit orders waiting.

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #10,710
  • Oct 12, 2016 11:21am Oct 12, 2016 11:21am
Hello guys. I returned to this pair today with a short on the break of the lows of the previous hourly bar (orange line). The stops are a bit higher. They can also be placed at just above last Friday's highs, as they are not too far away.

hourly bar chart attached
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  • #10,711
  • Oct 12, 2016 12:05pm Oct 12, 2016 12:05pm
Quoting USD-charts
{quote} So how did it go?
stopped out of that one, -1% I messed up see next post, I think that one was Monday... another lesson
big money makes big moves and then hides during small money chasing.
  • #10,712
  • Oct 12, 2016 1:33pm Oct 12, 2016 1:33pm
Quoting ItsAtrap
Hello guys. I returned to this pair today with a short on the break of the lows of the previous hourly bar (orange line). The stops are a bit higher. They can also be placed at just above last Friday's highs, as they are not too far away. hourly bar chart attached {image}
Not sure why you are short? What time scale?
Gone to a better place
  • #10,713
  • Oct 12, 2016 8:32pm Oct 12, 2016 8:32pm
Being trying to short this pair twice since last week only to lose the profits I made last month. USD and Oil price seem to influence this pair to go higher that 1.33. Staying out until i see a clear S&D level.
50% right - 50% wrong
  • #10,714
  • Oct 13, 2016 4:28am Oct 13, 2016 4:28am
short for UCAD
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Sell EA Low Risk
  • #10,715
  • Oct 13, 2016 4:46am Oct 13, 2016 4:46am
Short after no reaction on hourly support

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #10,716
  • Oct 13, 2016 5:55am Oct 13, 2016 5:55am
USD CAD very much is similar to USDX

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Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #10,717
  • Oct 14, 2016 4:20am Oct 14, 2016 4:20am
USD/CAD rebounded from 1.3184 after forming a spinning top and a inverted hammer bar at that support. Right now the pair is testing the resistance at 1.3205 and I think that if it breaks out above that level it will reach the next resistance at 1.3240.
  • #10,718
  • Oct 14, 2016 10:45am Oct 14, 2016 10:45am
only idea i have is if oil shakes out 50.2 w a tail and usdcad holds 3150, then I'll buy if the pattern sets up and eurusd confirms, otherwise I remain flat
big money makes big moves and then hides during small money chasing.
  • #10,719
  • Oct 14, 2016 12:48pm Oct 14, 2016 12:48pm
hit 3150 and kept on going, not at all correlating with oil, did follow other pairs also newsy here w Yellen speaking, still flat
big money makes big moves and then hides during small money chasing.
  • #10,720
  • Oct 14, 2016 2:59pm Oct 14, 2016 2:59pm
Quoting ItsAtrap
Hello guys. I returned to this pair today with a short on the break of the lows of the previous hourly bar (orange line). The stops are a bit higher. They can also be placed at just above last Friday's highs, as they are not too far away. hourly bar chart attached {image}
Hello guys. In my short trade of earlier this week, I took profit from only a small part of the position before getting stopped out of the rest for a small loss as the price reversed and moved up. I was looking for signs on the hourly to re-enter shortwith small SL, and I did so, as London opened the next day. Since then, the price cascaded south, allowing me to move stops at B/E for what is a now a trade with no capital committed to it. However, as I have not taken profits on this later short, in terms of realised P&L on USDCAD this week I am still slightly negative, given my stop-out on Wednesday. My take-profit was not enough to cover all of the loss in the subsequent stopout.

My medium term view remains that UCAD correction that started in January this year is likely not finished and we will move below May 2016 low to at least 1.20 or so, and possibly quite a bit lower. This is the reason I have been stalking this pair with shorts around these levels.
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