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USD/CAD

  • #11,061
  • Feb 28, 2017 3:54pm Feb 28, 2017 3:54pm
I've been trading this pair for some time. I'm Canadian, so well aware of the news and what not related to this pair. I have been buying around the 1.30/31 level, no stops and let them run, manual close when i feel like it. I don't worry about the charts too much other than then watching trend. I also research what the banks are expecting the pair to do, RBC TD Canada Trust.. etc.. They post forecasts, while price might bounce around a fair bit, I presume the banks annalists are better than me. For example RBCs forecast:

Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 25 KB


My advice is to dumb down your trading, trade a pair you know. So in short, I'm long on this pair and practice patience to wait for an entry.

Best of luck
  • #11,062
  • Feb 28, 2017 5:04pm Feb 28, 2017 5:04pm
CDAWG , thank you for the info. My thinking seems to be off today in terms of probabilities.

Cheers,
"Define the risk OUT of your trade"--Mark Douglas
  • #11,063
  • Feb 28, 2017 9:59pm Feb 28, 2017 9:59pm
Quoting GreenEarth
Vecher , do you have an approximate timeline on your TP to be triggered , I know that this is variable. Dianajs nailed this trade to a tee today ! Regards,
hard to say, may be next week, if not stop out before )
  • #11,064
  • Mar 1, 2017 3:03am Mar 1, 2017 3:03am
Be carefull.. 1.31 is a big support now.
  • #11,065
  • Mar 1, 2017 6:25am Mar 1, 2017 6:25am
Quoting Cdawg
I've been trading this pair for some time. I'm Canadian, so well aware of the....
RBC TD Canada Trust.. etc.. They post forecasts, while price might bounce around a fair bit, I presume the banks annalists are better than me. For example RBCs forecast: {image} My advice is to dumb down your trading, trade a pair you know. So in short, I'm long on this pair and practice patience to wait for an entry. Best of luck
Good post, nice table too.
Well, these folks don't care about us, and deal on monthly chart
We, on hourly get spiked. Nothing malicious, just stop hunt ehh.

U/cad being so strong lately....why? Oil??? hmm.

I say they had a sneaky robbing look at the "news data" at 1:30 pm which is very bad.... So big dump coming in next 1-2-3 hour's time.

My 2 loonies
Beware of robber banks (RB), bad advisors.
  • #11,066
  • Mar 1, 2017 6:34am Mar 1, 2017 6:34am
Not-KPMG , what do you mean a big dump ? Do you mean a decline in the USD/CAD in the next few hours ? I am in your court in terms of believing that this spike was manufactured by someone. I fail to come up with ANY probability as to why this occurred other than "the cost of doing business for a retail trader".
Regards,
"Define the risk OUT of your trade"--Mark Douglas
  • #11,067
  • Mar 1, 2017 7:43am Mar 1, 2017 7:43am
Biggest news in 1,5h.Lets see if it will give a push to sell big.
  • #11,068
  • Mar 1, 2017 8:54am Mar 1, 2017 8:54am
yeah the calendar is quite full today and bulls are showing some weekness already oil is up again. At least a nice correction drop to 1.3200 is what I expect. See what happens.
  • #11,069
  • Mar 1, 2017 9:02am Mar 1, 2017 9:02am
Quoting DwainUK
yeah the calendar is quite full today and bulls are showing some weekness already oil is up again. At least a nice correction drop to 1.3200 is what I expect. See what happens.
no correction apparently, market cheated everybody again
  • #11,070
  • Mar 1, 2017 9:50am Mar 1, 2017 9:50am
4H Divergence ?
  • #11,071
  • Mar 1, 2017 10:03am Mar 1, 2017 10:03am
actually,i really dontknow what is going on this pair. Just cal for waiting go down. Seems sharks are hunting. I will hedge and cut very slowly.
  • #11,072
  • Mar 1, 2017 11:12am Mar 1, 2017 11:12am
USD/CAD has returned to my previous short levels. I shorted again just now with stops of 60 pips, just a couple pippos above the high of 20 Jan.
  • #11,073
  • Mar 1, 2017 11:31am Mar 1, 2017 11:31am
Quoting KOS-fx
{quote} Hope your trade going well....
Sorry I saw this only now but I should answer: I exited that short on the open of 14 Feb, after it seemed to me that the market was failing to continue moving down. A few days later I tried another short but it failed as can be seen from the attached daily chart.

Unfortunately , in addition to the second failed short on U/CAD, I also lost some pippos earlier on my GBP/JPY longs so the next overall profit was cut back somewhat and neither Jan nor Feb have been impressive in terms of profits for me. Just OK. I suspect March might offer more excitement, but excitement doesn't always equal profit


By the way, I don't know why the Oanda platform doesn't show my earlier short entry, so I circled the area. Their system only shows the most recent trades. Not sure about their MTrader platform though. I don't use that
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD weekly short exit 14Feb17.jpg Size: 194 KB
  • #11,074
  • Mar 1, 2017 11:37am Mar 1, 2017 11:37am
Regarding why I thought USD/CAD would reach 1.3260 - I noticed that the middle line of the Bollinger Bands on the weekly time frame was at that level and that the pair had almost reached it. I thought it was logical that it would reach it. I just closed my long position, but I think the pair might continue rallying toward 1.3400.
  • #11,075
  • Mar 1, 2017 11:58am Mar 1, 2017 11:58am
Going Short 1.3342 for a 30 pip Target
Tamizhan
  • #11,076
  • Mar 1, 2017 12:10pm Mar 1, 2017 12:10pm
Short from 1.3337. Target 1.3114
  • #11,077
  • Mar 1, 2017 3:38pm Mar 1, 2017 3:38pm
Thankyou dianajs.
"Define the risk OUT of your trade"--Mark Douglas
  • #11,078
  • Mar 2, 2017 2:46am Mar 2, 2017 2:46am
Careful those short. The fact that the price is making new highs before even the American markets are open, indicates further bullish momentum. I exited my short for a small loss
  • #11,079
  • Mar 2, 2017 2:48am Mar 2, 2017 2:48am
Quoting ItsAtrap
Careful those short. The fact that the price is making new highs before even the American markets are open, indicates further bullish momentum. I exited my short for a small loss
same here, didn't liked it
  • #11,080
  • Mar 2, 2017 4:49am Mar 2, 2017 4:49am
If oils keeps going down it might easily get to 1.35 again. Nice table there Cdawg . Cheers
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