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Thread: Lets talk USDCAD

  1. #1

    Lets talk USDCAD

    There are some signals confirming USD strength. On the daily chart occured something such as divergence. Besides major trend is drawback (besides fundamentally CAD is commodity currency that's normally pushed by oil), I presume there will be little rally. Now rate reached 38 fib and if it is not reversal point then I think It will go. This stage is supposed to be resistance. Here occured hammer or more but it has done its job because rate went up.

  2. #2
    Well as oil moved to record, And there opened a window on USD/CAD chart I did not enter long.

  3. #3
    1 Attachment(s) Who is happy with me? Who did ch pin pub? Besides, fundamental data helped USD (canada's information)

  4. #4
    Quote Originally Posted by ;
    Who's happy with me? Who did ch pin pub? Anyway, fundamental data helped USD (canada's data)
    yep along with a much better one three pubs before

  5. #5

    I think that the pin bar trade will be in the negative now, unless you chose a small profit or moved your stop to breakeven.

    I feel a better/safer trade would've been to go brief ater the DBHLC because the price is below the MA365.

    Just my thoughts. Any views/objections welcome.

  6. #6
    you guys keep something in mind. These price action bars do function on intraday charts but you dont know by how much. May be 10 pips could be 50 pips or longer. The best way to perform them would be on daily and weekly charts and use them to let you know what direction the market is going to fine tune your intraday systems. Food for thought. jim

  7. #7
    Thanx for the information Jim,

    Looking at the current situation on the charts, my commerce would've been stopped out. Here the moving stops to breakeven information would've stored your own capital.

    Thanx again Jim, alway learning sumtin' nu.


  8. #8
    Hey joyful traders. Following is a 4hr snare I picked up on today. The Weekly, and Daily are at a downtrend, so it looked good to me. The issue I am having dual and with all the 4 hour pins high/lows is a good one, when to get out. Anyone have ideas? Pipmon

  9. #9
    That was a really great one PipMonster. Don't know whether this is one of these A transactions which Jim talks about however. Even the Pin Bar came from a 61.8 fibo, a MA89, a trendline resistance, also, a R2 pivot was not far off (1.1787).

    Looks like we have got the same issue - when to depart? The information I got from others on this forum was to open more than 1 lot, then you're able to close a couple of lots when you're in profit and move your stop to breakeven for the rest of the lots.

    Happy trading

  10. #10
    Thanks Habeeb, I understand it was not a trade but I am guessin it was likely a solid B. I was sort of hoping it'd head into the highs of a week. I hope to find out what happens and got rid of 3/4 of the position. I have a hard time going an entire day without making a trade and that was the nearest to an A trade that I found. Perhaps shouldn't have taken it, but it sure looks great. Pipmon

    It also may be heading to get a daily pin bar. I have my cease set over fridays high.

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