USD / CAD

Discussion in 'Interactive Trading' started by SLT, Aug 2, 2014.

  1. SLT

    SLT Official GDayFX.com Rep

    Before and after
     

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  2. Alpha-Bet

    Alpha-Bet Well-Known Member

    I pull up us/cad on the screens when suffering from insomnia.
    prefer other pairs rather than tying up capital in this cross.
     
  3. SLT

    SLT Official GDayFX.com Rep

    yeah cool, i dont trade it either
     
  4. jack

    jack Administrator Staff Member

    Because it's daily range is so tame?

    Back when it was well below parity with the USD, and the oil correlation was stronger, things were a bit more interesting..
     
  5. Alpha-Bet

    Alpha-Bet Well-Known Member

    Until those days return it's not on my watch list
     
  6. guilhermecarva

    guilhermecarva Active Member

    Could someone please tell me if that is a valid setup.
     

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  7. jack

    jack Administrator Staff Member

    Good question. Any ICT people focus on trading form monthlies?
     
  8. sqa

    sqa Village Scribe

    On a Monthly Chart-Level Stop Loss... yes. Though Monthly charts really need a run of COT Data with them.

    Considering the hard Trend in the USD and current CAD weakness, it's probably wise to keep looking long until such time as the pair breaks down.

    Granted, they could also make a run at the High itself, given it's coming off a retrace down at the bottom.

    Edit: By "Monthly Chart-Level Stop Loss", I'm talking about 1000+ pips. But, while it's an area to expect a bounce, without COT Data backing it up, I really wouldn't want to take it. I could see those highs being taken first, at least on the Price action.

    Actually, looking at the Chart more, given the way everything is broken to the Upside, I'd expect the High to get taken. That might be the upside of it, though. On this level, Fundamental drivers have a big, big play, and, frankly, the CAD is going to be under assault due to Oil dropping. I wouldn't look to get Short for a while, unless the COT Data is flashing Red Lights for a reversal.
     
  9. Decoherence

    Decoherence Well-Known Member

    I agree with Sqa. We had some consolidation until from Jan 13th - 20th , but the trend is still strongly upwards. I would pay attention closer to the hourly and daily charts for entries. There could definitely be some decent replacements, but maybe not enough to show up on the monthly charts. But yeah, Canada is going to feel the effects of oil prices for some time yet I think.

    disclaimer: I am a total noob

    edit2: Look what happened 4 hours ago on the USD/CAD. Good thing you weren't short on that monthly chart ;)
     
  10. Decoherence

    Decoherence Well-Known Member

    On that note, holy fucking shit, if I had of been trading long term with a wider stop on my analysis of this pair I could have netted 880 pips. Not like it was rocket science for this pair as the fundamentals are so strong but still.

    Fuck scalping until like 5 years from now and my intra-day/swing trades are solid.
     
  11. guilhermecarva

    guilhermecarva Active Member

    Yeah I wouldn´t enter a sell there looking only to a monthly chart. It was just to understand the criteria. That period from 2008 we had too much indecision. Tomorrow for sure we will see what is going to happen. No trades for me till next week for sure. Thanks guys !!!!!!
     
  12. jack

    jack Administrator Staff Member

    Scalping is very hard, especially considering spreads and fees rack up the most on small wins vs small loss scalps.

    Don't get me wrong, I personally am a scalper for the most part, but I always recommend traders start with higher time frames. More time to consider, think, work out a trade, less fee/spread impact, less noise..etc.. always good.

    As for USD/CAD, after today's rate cut I'm not interested in shorts anytime soon. That doesn't mean there isn't good short setups using other methods, but I'd be very picky.

    [Edit: yay 1000 posts! :D]
     
  13. helly

    helly Member

    Downward content for the USD against the "Loonie", which stores the session at 0.53% decline.
    The short-term scenario of the US dollar against the Canadian dollar showed a decline of courses towards 1.3159 area first area of resistance seen at 1.3374. Expectations are for an expansion of the negative phase to support seen at 1.3088.
    [​IMG]
     

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  14. the golden gun

    the golden gun RINSE & REPEAT

    and so what was your trade exactly?
     
  15. helly

    helly Member

    I'll wait to rebound. I think it will be around 1,3200
     
  16. shopster

    shopster Well-Known Member

    what are u waiting 4.......?

    load long and run the bitch back up. don't forget to post a pic of the load........:)

    s
     

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