# USD/CAD Looney



## Kauri

Does anyone else trade the Looney... looks like the recent drop may be over going by my E/W outlook, unless of course it turns out to be a 5 wave leg??


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## telstrareg

*Re: USDCAD Looney*

Looking at the monthly charts, the market is currently sitting on support from the year...1991! When talking about these massive time frames it's probably good to look to the fundamental. Ie what has been driving is down since 2002, and is this pressure still present? 

Back in 91 the market changed direction for the next 10 years without wavering. However this looks different. The  sudden drops every year or so have been very strong.

There is little doubt in my mind that it's going down.


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## Kauri

*Re: USDCAD Looney*

Going on the Weekly chart covering the last 5 years decline I see it as being in the (early??) stages of W(5)...  and on the daily of the past 3 months it is in the area where the longish 3rd wave _could_ turn..


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## Kauri

*Re: USDCAD Looney*

Closed out the short and taken a long position looking for a W4..


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## telstrareg

*Re: USDCAD Looney*

I was thinking short medium term, not overnight. Your right, long term it looks like it's turning, but there's some still some downside, methinks. Make sure you trade the timeframe you seek to profit from.


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## Kauri

*Re: USDCAD Looney*



telstrareg said:


> I was thinking short medium term, not overnight. Your right, long term it looks like it's turning, but there's some still some downside, methinks. Make sure you trade the timeframe you seek to profit from.




  Surely the timeframe I trade in is the the timeframe I try to profit from?
  The weekly chart gives me an overall larger picture of where I am at in the daily. Longterm (weekly), unless the 5th wave is shortened, I see that there is still a ways to go down. Possibly by being a little more agressive in my trading style, that doesn't exclude me from long trades on possible corrections to that longer trend when everything lines up, regardless of my overall short bias.


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## telstrareg

*Re: USDCAD Looney*

What I was getting at was the fact that some people who have a long term view then expect the market to behave that way in the short term and trade accordingly. Eg it's easy to take a big hit on the 30min trend while on the monthly trend the market will move just as you predicted.


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## Kauri

*Re: USDCAD Looney*



telstrareg said:


> What I was getting at was the fact that some people who have a long term view then expect the market to behave that way in the short term and trade accordingly. Eg it's easy to take a big hit on the 30min trend while on the monthly trend the market will move just as you predicted.




Telstra..  You are quite right, as my wife would/will say.. What were you thinking of..    ..   Long term I still think the Loonie has away to go down yet, and still I cut a good trade to try to grab a couple of RR points on a *minor countertrend* which may not even eventuate     Going through my records, particularly FX, I have been doing it quite a bit lately, is impacting negatively on my drawdown and overall RR multiples, so it is something I will have to eliminate from my trading. Amazing how a couple of early minor short-term successes trading this way has allowed it to become part of my trading style!!! Genuine thanks for the timely reminder.   
 Now it's time to see if the downtrend resumes and if there is a valid entry point so I can rejoin the trade.
   Cheers
             Kauri


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## reece55

*Re: USDCAD Looney*

Kauri/Telstra
Been playing around with FX of late and last night this pair bounced off the 1.11 support line nicely, about 100 pips on the board last night. I think there is still pips available on the upside from here, but you would need t acknowledge that this is a counter trend trade and it would prudent to take quick pips here...

I take Telstra's point about be conscious of trading to the time frame you want and reviewing the trend accordingly. The more I learn about FX, more I notice that trading on different time frames (15, 30 mins or longer term i.e daily to hourly) can cause you to take different positions in the market. For the meanwhile however, I am focusing on taking small pip profits and therefore was happy with the USD/CAD long accordingly.

Cheers
Reece


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## telstrareg

*Re: USDCAD Looney*

To tell you the truth, I was kind of suckered into giving my opinion on which way this will go, I almost never give opinions anymore, even to myself. The longer I trade the less I think about "which way the market is going to go" and the more I think about just managing my money. Stops, letting winners run, scaling my positions according to these factors.

I'd like to think I could make a long term profit by throwing darts at charts, flipping a coin for long or short and then just managing whatever positions I happen to be in. I can't control or predict the markets, but I can control the above.


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## telstrareg

*Re: USDCAD Looney*

...never-the-less it looks like I was on the money


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## Kauri

*Re: USDCAD Looney*

Having successfully taken myself out of a winning trade by breaking all my trading rules by trying firstly to pick a bottom and secondly unsuccessfully trade a countertrend I have watched with wry amusement  as the Loonie has continued relentlessly south, without me.... now it *looks *like it is in the typical area price and timewise for W*5 *to complete if of course my labelling is correct??).... guess who isn't trying a countertrend trade this time!!  Will watch and see if it rises first instead of sagging like an undercooked soufle.....


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## reece55

*Re: USDCAD Looney*

Kauri
What a decline - incredible how far south it has gone......

The head of fxbootcamp.com (I think it's Wayne someone) said in the latest free  teleconference that his view is that unless the US finds a huge oil reserve in the foreseeable future, this thing will just keep going south......

I guess for you it just proves that keeping to the plan is the most important thing and that regardless of what your biases are, sometime the EW count and review of the chart is the most important thing.

Still, if you managed to get a few pips here and learned something out it, then I think you won big time here.......

Cheers


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## Kauri

*Re: USDCAD Looney*



reece55 said:


> Kauri
> What a decline - incredible how far south it has gone......
> 
> The head of fxbootcamp.com (I think it's Wayne someone) said in the latest free teleconference that his view is that unless the US finds a huge oil reserve in the foreseeable future, this thing will just keep going south......
> 
> I guess for you it just proves that keeping to the plan is the most important thing and that regardless of what your biases are, sometime the EW count and review of the chart is the most important thing.
> 
> Still, if you managed to get a few pips here and learned something out it, then I think you won big time here.......
> 
> Cheers




   Reece,
            The re-inforcement of my trade rules is the most valuable.... incidentally, allowing that my count on the weekly is correct, parity is by no means out of the equation.... ahhhh .. the wry amusement just keeps getting better and better..


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## telstrareg

*Re: USDCAD Looney*

Looney has been great, but CADJPY even better with the carry.


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## Kauri

*Re: USDCAD Looney*

Might be a long on the 60 min. coming up on the Loonie... 
 Cheers
........Kauri


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## Kauri

*Re: USDCAD Looney*



Kauri said:


> 13 Aug. Might be a long on the 60 min. coming up on the Loonie...
> Cheers
> ........Kauri




   Well the first entry at 50-60% ret bombed, the next at the 78% has come in well so far...
   Cheers
...Kauri


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## Kauri

*Re: USDCAD Looney*

I'm not banking on it but this *may* be a good place for a shallow minor W3-*W4* consolidation..... 
  Cheers
....Kauri


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## Kauri

*Re: USDCAD Looney*

At an interesting stage on the daily.... although the 60Min chart shows no signs of pausing..  
 Cheers
.....Kauri


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## Kauri

*Re: USDCAD Looney*

My short term part of the trade has been closed now.. am leaving the longer term part open as this may develop from a W1orA = W3orC into a 5 minor wave W3orC that is 162%.... 
 Cheers
....Kauri


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## Kauri

*Re: USDCAD Looney*

Ooops.. might pay to put up the latest chart for the last post...


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## CanOz

*Re: USDCAD Looney*

Nice H&S pattern here.


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## >Apocalypto<

*Re: USDCAD Looney*

Fellow Looney's,

Why do they call it the Looney?

After shorting it, Looney found support plus touched and bounced off the new up trend line on daily to form another higher low.

I have gone long, stops under the trend line.

Green arrow is my entry bar (today)

One point to note, it looks like a creeping trend so I am not sure how strong this new push is.

Good trading.


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## CanOz

*Re: USDCAD Looney*

Looney, because the animal on the coin is a Loon, like a large duck, except with a pointed bill for fishing like a king fisher...its black with white speckles, and has a real nice call that one associates with a mirror lake in the early morning, a slight misty fog burning off......good grief, i must be missing home!


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## tayser

*Re: USDCAD Looney*

and here's me thinking it's the Canuckers taking the piss out of themselves & their currency's 'lunacy' against the USD...

snort.


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## reece55

*Re: USDCAD Looney*

All the way down to 93.70, doesn't seem that long ago that I was trading this one at above 1.05............. This has been a dramatic move down, there just seems to be no end to this downtrend......

GO THE LOONEY!!!!

Cheers


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## tayser

*Re: USDCAD Looney*

think of all those lucky Canadians who straddle the US border (like 90% of the population?) and can go shopping in their nearest US shopping centre.  Big spenders.


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## ithatheekret

*Re: USDCAD Looney*

Isn't it strange ( not ) that most currencies are crushing option barriers . These are taken out by the "smart money " and volatility is squashing them one after the other . Then they happily retreat ....... for breathers and then dash back up the hill . Amazing markets to watch , pip by pip if you can keep up with them nowdays , I use to place markers on the screen for my charts , but can't get them up fast enough nowdays .


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## ithatheekret

*Re: USDCAD Looney*

Should say entered to go against the option @ 102 .  , thought what the 
h3ck , heard t'was an Aussie bank too , hopefully recoup some of my fees


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## ithatheekret

*Re: USDCAD Looney*

just blew the 30 sec chart up ... from the last 102. push we seem to be beginning to form a cup after the retreat .............
30/15min shows beginning of slight bounce , as does 5 min , but ....... hourly and 3 hrly are moo time

30 sec says moo to me also . 

all systems set for 102 attack again , banks must hate dealers and traders


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## ithatheekret

*Re: USDCAD Looney*

Yep 102.15's they didn't like that : anyone game to look forward for a 105 in the coming sessions


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## ithatheekret

*Re: USDCAD Looney*

I hope that's not NAB traders again , sophisticated crooks that last mob they caught . Nah ......... Stewart would have them pinned to a wall . Because they are above cloud looking down at a good chart .


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## ithatheekret

*Re: USDCAD Looney*

This swap has my attention once more , the shoving effect slowing a little .


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## ithatheekret

*Re: USDCAD Looney*

update :


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## ithatheekret

*Re: USDCAD Looney*

another drop punt tonight ......... going for field goals this swap , rolls back then let's go , they'll get the hammer out again soon .


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## ithatheekret

*Re: USDCAD Looney*

Do we have a ground floor ................. shirts , undies and thongs .


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## ithatheekret

*Re: USDCAD Looney*

With a twist , hold the olive .


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## ithatheekret

*Re: USDCAD Looney*

added to the poz. to see if it can keep the usual up , noting it's around the 68/69 area again , will probably bounce about here .


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## ithatheekret

*Re: USDCAD Looney*

last update , couldn't be stuffed waiting for parity again , stage left and bed soon .


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## ithatheekret

*Re: USDCAD Looney*

waiting to see if it can get down to 9935ish this time .


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## ithatheekret

*Re: USDCAD Looney*

had a go at it ......... 9028/29 to set . tight trailer I thunk .


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## Kauri

*Re: USDCAD Looney*



ithatheekret said:


> had a go at it ......... 9028/29 to set . tight trailer I thunk .




speculation that there maybe another 1.0000 USD/CAD expiry today 

 By the way.... UBS apparently has its minions stormin around madly trying to find out how to pronounce ABU Dhabi in high german...   
Cheers
,....Kauri


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## ithatheekret

*Re: USDCAD Looney*

That's easy .......

sofortiges Geld , naaah , nein , freie Dirhams , naaah , nein , kostspielige Dirhams , ja ist das es .


.........  normales altes Abu Dhabi tut zwar .


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## ithatheekret

*Re: USDCAD Looney*

update , c'mon Kauri show em some of your trades , he's hiding a bonza POG short from the other day , whack up with the glossie mate ........  :


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## Kauri

*Re: USDCAD Looney*



ithatheekret said:


> update , c'mon Kauri show em some of your trades , he's hiding a bonza POG short from the other day , whack up with the glossie mate ........ :




  Who me???


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## ithatheekret

*Re: USDCAD Looney*

Nearly plonk time for me ..........  

update , watching this test area from last push .... oops too late it popped up again .


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## ithatheekret

*Re: USDCAD Looney*

better view , get's the rumbles this one .


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## ithatheekret

*Re: USDCAD Looney*

update : rumble she did ...... look for next set up or continue the main ride ?

I might tempt fate .


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## ithatheekret

*Re: USDCAD Looney*

This had been a great trade tonight , closing some now , will retain and see if parity comes back quick .


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## ithatheekret

*Re: USDCAD Looney*

she's off again , come on parity . word of the year .


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## ithatheekret

*Re: USDCAD Looney*

Bought the run up . closed bar dregs . Now the fight for parity .


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## ithatheekret

*Re: USDCAD Looney*

parity again , one day it might decide to keep going again .


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## BentRod

*Re: USDCAD Looney*

Loonie looks like it is finally breaking out of that range it has been stuck in since last year.

Will have to wait till the USD interest rate decision to see if there is any follow through I suppose


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## BentRod

*Re: USDCAD Looney*

USDCAD Daily.


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## BentRod

*Re: USDCAD Looney*

Up she goes

Looking Parabolic though


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## Investor123

*Re: USDCAD Looney*

*Canada Dollar Declines as Crude Oil Drops *

Canada's currency fell after crude oil dropped to a five-month low and the U.S. dollar rose against other major currencies.

The Canadian dollar traded at C$1.0689 against its U.S. counterpart at 10:38 a.m., down 0.2 percent from yesterday's C$1.0667. 

Crude oil for October delivery touched $105.46 a barrel on the New York Mercantile Exchange, the lowest since April 4, as Hurricane Gustav spared U.S. Gulf states the destruction caused by Katrina and Rita in 2005. Commodities, including oil, account for about half of Canada's export revenue. 

The Bank of Canada meets tomorrow on interest rates.

Lower crude price is one of the things causing weakness in the Canadian dollar.

My trading system signals BUY for USDCAD.

Bought 10,000 USDCAD at 1.0714
Stop level at 1.0610
Target level at 1.0908


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## Investor123

*Re: USDCAD Looney*

Yesterday I had bought 10,000 USDCAD at 1.0714, stop level at 1.0610, target level at 1.0908. 

USDCAD is trading at 1.0759, profit is up 61 pips, US$56.81.

Resistance level at 1.0750 had broken, so USDCAD has the potential to rise higher.

Today Bank of Canada will announce their interest rate decision. If there is interest rate cut announcement today, we can see USDCAD rising much higher.

My trading system is still signal BUY for USDCAD.


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## Kauri

*Re: USDCAD Looney*



Investor123 said:


> Yesterday I had bought 10,000 USDCAD at 1.0714, stop level at 1.0610, target level at 1.0908.
> 
> 
> *My trading system is still signal BUY for USDCAD*.




  mine isn't...   
Cheers
............Kauri


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## Investor123

*Re: USDCAD Looney*

*My System signals SELL for USDCAD *

Canada's dollar advanced after a government report showed the nation's employers added more jobs in August than economists forecast, indicating the Bank of Canada may refrain from cutting borrowing costs next month.

The currency remained higher after a report showed the U.S.
lost more jobs than forecast in August and the unemployment rate climbed to a five-year high.

Both Stochastic and Comm Channel signals SELL for USDCAD

Shorted 10,000 USDCAD at 1.0654
Stop level at 1.0785
Target level at 1.0487


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## BentRod

*Re: USDCAD Looney*



> Shorted 10,000 USDCAD at 1.0654
> Stop level at 1.0785
> Target level at 1.0487




Good luck with the trade.

Personally I'm looking for a long to add to my position but standing aside with all this volatility.

I've already tried twice but have been stopped out after a good profit both times. 
The ranges on this thing!


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## Investor123

*Re: USDCAD Looney*



BentRod said:


> Good luck with the trade.
> 
> Personally I'm looking for a long to add to my position but standing aside with all this volatility.
> 
> I've already tried twice but have been stopped out after a good profit both times.
> The ranges on this thing!




Good luck to you too.


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## Investor123

*Re: USDCAD Looney*

On 5 September I had shorted 10,000 USDCAD at 1.0654, stop level at 1.0785, target level at 1.0487. 

USDCAD had moved in my favour to 1.0571, profit is up 83 pips, US$77.62.

Non-farm payrolls fell by -84k last month, driving the unemployment rate to a 5 yeer high of 6.1 percent. This signals that US economy is getting very near to recession stage. Weak US economic data may weaken USD temporary.

My system is still signal SELL for USDCAD.

I had removed my stop level at 1.0785 and set a 30 pips trailing stop instead. 

Trailing stop ensures that some profit is secured in this trade. With trailing stop, my stop-loss order is adjusted continually based on fluctuations in the market price, always maintaining 30 pips above the market price.


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## Investor123

*Re: USDCAD Looney*



Investor123 said:


> On 5 September I had shorted 10,000 USDCAD at 1.0654, stop level at 1.0785, target level at 1.0487.
> 
> USDCAD had moved in my favour to 1.0571, profit is up 83 pips, US$77.62.
> 
> Non-farm payrolls fell by -84k last month, driving the unemployment rate to a 5 yeer high of 6.1 percent. This signals that US economy is getting very near to recession stage. Weak US economic data may weaken USD temporary.
> 
> My system is still signal SELL for USDCAD.
> 
> I had removed my stop level at 1.0785 and set a 30 pips trailing stop instead.
> 
> Trailing stop ensures that some profit is secured in this trade. With trailing stop, my stop-loss order is adjusted continually based on fluctuations in the market price, always maintaining 30 pips above the market price.




Support level at 1.0550 creates a rebound for USDCAD, not taking any chance I decide to take profit first.

Bought back USDCAD at 1.0570, profit is up 84 pips, US$78.57.


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## Kauri

*Re: USDCAD Looney*



Investor123 said:


> On 5 September I had shorted 10,000 USDCAD at 1.0654, stop level at 1.0785, target level at 1.0487.
> 
> USDCAD had moved in my favour to 1.0571, profit is up 83 pips, US$77.62.
> 
> Non-farm payrolls fell by -84k last month, driving the unemployment rate to a 5 yeer high of 6.1 percent. This signals that US economy is getting very near to recession stage. Weak US economic data may weaken USD temporary.
> 
> My system is still signal SELL for USDCAD.
> 
> *I had removed my stop level at 1.0785 and set a 30 pips trailing stop instead. *
> 
> Trailing stop ensures that some profit is secured in this trade. With trailing stop, my stop-loss order is adjusted continually based on fluctuations in the market price, *always maintaining 30 pips above the market price*.




looking at the charts *now*... well dun...

*cute*  

Beers
............kauri


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## Investor123

*Re: USDCAD Looney*

I had switched to shorting USDJPY:

https://www.aussiestockforums.com/forums/showthread.php?t=7996&page=12


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## kosai

*Kosai - Looney Short Position*

Just found this thread and thought I may as well post my chart. Here's where I shorted the looney after it broke the multipivot line and tested it at the red circle. Stop is the red line and target is the green one. If volume gives me a decisive enough pattern I'll bail. I don't like trailing stops, I just let the market ride it out but my stop is at break even so that my risk is zero.


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## kosai

*Kosai - Short Looney View #2*

I'll also include my Alan Andrews Pitchfork chart here. I use this for context along with a 40 period moving average on volume for a reference. Any oscillator will be giving a divergent signal here and those 3 distinctive spikes of the candle are often found on instruments that top. Note the massive volume too. On a weekly time frame it is setting up for a big move. Either way the area is likely to be tested again as multiple tests often occur before the market advances/declines.


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## BentRod

*Re: USDCAD Looney*

USDCAD finally broke out to new highs.

I tried to get set for it but got stopped out mostly

Daily:


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## Stormin_Norman

*Re: USDCAD Looney*

luckily it bounced off that top and allowed the bunjip to get out of the long trade's itd been in since saturday morning.

it looks like pushing up again now.

bad housing data is what encouraged the rise.


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## >Apocalypto<

*Re: Kosai - Short Looney View #2*



kosai said:


> I'll also include my Alan Andrews Pitchfork chart here. I use this for context along with a 40 period moving average on volume for a reference. Any oscillator will be giving a divergent signal here and those 3 distinctive spikes of the candle are often found on instruments that top. Note the massive volume too. On a weekly time frame it is setting up for a big move. Either way the area is likely to be tested again as multiple tests often occur before the market advances/declines.




hi Kosai,

I take it that chart is from MT4. Please don't get to warped up with volume displayed by your brokers, as it's inaccurate. Spot Forex has no central exchange so there is no real verified volume for the period your looking at.

Most of the times the Mt4 broker will display their liquidity providers volume and that's hardly accurate either. 

if it's from the currency Futs then that's a different story.

Cheers


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## i_in

*Re: USDCAD Looney*

we have double top and 50% fibo !


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## i_in

*Re: USDCAD Looney*

short 1.14 stop 1.1480 target first time 1.06 
I'll post my count lather
GL


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## Cartman

*Re: USDCAD Looney*



i_in said:


> short 1.14 stop 1.1480 target first time 1.06
> I'll post my count *lather*
> GL




were u shaving while u were trading i-in ?

very nice trade btw !!


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## i_in

*Re: USDCAD Looney*

Thanks Cartman
I move stop on the by 
need to break 1.2250 end then 1.11, next target 1.06


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## i_in

*Re: USDCAD Looney*

now need to break 1.1210 to move down - 1.11 1.06....


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## Glen48

*Re: USDCAD Looney*

I found a good web site _Mataf.net_ they seem good so far????


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## PipSafe

*Re: USDCAD Looney*

USD/CAD  since 16.09.2012 was in strong and consistent Uptrend that buyers were successful in achieving the highest price level of 1.12242.The price has stopped from more ascend by reaching to the resistance edge of Up channel and a top price was created on the resistance line by the buyers retreat.Right now in daily and H4 time frames, the price is under 5-day moving average that shows the descending trend and warns about more descending.

according to the recent descend the Monthly candle in previous Month was appeared as Harami candlestick pattern that shows failure of buyers in reaching to the higher prices and formation of a bottom price in this range (closing of bearish candle).RSI indicator is in saturation buy area and confirms the current top price, also wars about formation of a top price.Generally until the mentioned top price on the resistance channel edge is preserved, the price has the potential for reformation and descending in this currency pair.


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## albaby

Don't know Pip,just looks to be trading in a box atm.Al


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## PipSafe

USD/CAD during the recent Months was in a strong and consistent uptrend that buyers were successful in achieving the highest price of 1.12770.The price has stopped from more ascend by reaching to the resistance edge of Up Channel and a top price was created on the resistance line by the buyers retreat. Right now the price level of 1.12770 is known as a peak price by closing of the descending candle.Right now price is under 5-day moving average in long term time frames such as Weekly and Daily that shows a consistent downtrend in this currency pair.
In the range of formed top price there are(Monthly Time Frame) Harami Pattern and Spining Top candlestick pattern that shows the possibility for formation of a successful top price in continuing descending trend.As it is obvious in the picture below, there is an AB=CD harmonic pattern between the bottom price of 0.96349 and the top price of 1.12770 with ideal ratios of 38.2 to 224.2 that warns about descending of price from the D point of this pattern.RSI indicator in weekly  time frame is in saturation buy area that confirms the current top price and warns about changing price direction.According to the current situation there is not any clear reason about ascending of price in long term time frames. The least sign for ascending of price is formation of a bottom price and recording of it in daily time frame.


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## PipSafe

As it was mentioned in the previous technical analysis of USD/CAD pair dated 2014.04.07, according to the formed technical signs, there was the potential for descending of price which finally happened. As it is obvious in the picture below, price during the descending has touched the Up trendline (made of 2 bottom prices) has created the inverted hammer candlestick pattern. Closing of the bullish candle after this pattern will confirm it and warns about ascending of price. In daily time frame and weekly Stoch indicator is in saturation sell area and with the next cycle warns about the ascending of price from the bottom price of 1.08358.The first warning for ascending of price is breaking of the resistance level ( or the yesterday highest price change) 1.08743.Generally according to the current situation of the price chart in daily time frame until the third point of Up trend line is preserved, the price will have the potential to ascend and pass the mentioned bottom price.

*Technical Analysis of USD/CAD dated 2014.06.17*


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## Dean34

There is a major support coming in at around 1.0600


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## AussieMatt

Dean34 said:


> There is a major support coming in at around 1.0600




I have this one on my watch list also, lets see what happens at that level.


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## Dean34

AussieMatt said:


> I have this one on my watch list also, lets see what happens at that level.




I'm already long and am looking at this area for how I'll move forward...first trade I've had to manage in a while


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## dangap

Dean34 said:


> I'm already long and am looking at this area for how I'll move forward...first trade I've had to manage in a while




Myself watching as well.. I will wait for it to see if it hits support around 1.0588 and go from there. Will it break or rebound??


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## PurePA




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## Dean34

dangap said:


> Myself watching as well.. I will wait for it to see if it hits support around 1.0588 and go from there. Will it break or rebound??




I work on the theory that price needs to battle it out at major support/resistance points, the bigger the S/R point longer term, the more of a battle will take place..I was able to close the trade before it actually got to 1.0588...i posted the trade here
https://www.aussiestockforums.com/forums/showthread.php?t=28611


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## Stratanu

The USD/CAD confirmed a very strong closing even well above the 200 days line, now support at 1,0894. Possible further strength toward the 1,10 level! The indicators of the daily chart are already above the line as well as those of the 4h one supporting further strength. The indicators of the hourly chart turned instead below the line after having formed bearish divergences on the way. We have however also a potential negative reversal situation that is limiting the upside. While above 1,0908, the 200 hours line, the pair is supported suggesting a retest of the 1,10 area. We wait for a possible correction to try again a long position!


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## PipSafe

USD/CAD had an ascending trend without a noticeable reformation during the recent days that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 1.12231 in 4H time frame which is fixed by descending candle.Currently in monthly, weekly and daily time frames price is above 5-day moving average that warns about the potential of ascending of price during long period of time.

As it is obvious in the picture below, between the bottom price of 1.08106 and top price of 1.12231, there is an AB=CD harmonic pattern with non-ideal ratios of 76.4 and 161.8 which warns about descending of the price from the D point(Shooting Star Pattern) of this pattern.As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with RSI indicator and confirms the mentioned top price is 4H time frame which generally warns the possibility of changing price direction.Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.

*Technical Analysis of USD/CAD dated 2014.10.01*


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## PipSafe

USD/CAD had an ascending trend without a noticeable reformation during the recent days that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 1.12231 in 4H time frame which is fixed by descending candle.Currently in monthly, weekly and daily time frames price is above 5-day moving average that warns about the potential of ascending of price during long period of time.

As it is obvious in the picture below, between the bottom price of 1.08106 and top price of 1.12231, there is an AB=CD harmonic pattern with non-ideal ratios of 76.4 and 161.8 which warns about descending of the price from the D point(Shooting Star Pattern) of this pattern.As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with RSI indicator and confirms the mentioned top price is 4H time frame which generally warns the possibility of changing price direction.Currently the first sign for buyers is breaking of the D point of harmonic pattern in the price chart.

*Technical Analysis of USD/CAD dated 2014.10.01*


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## PipSafe

USD/CAD in recent weeks has a strong ascending trend that shows the serious buyers in reaching to their target prices. The price during this ascending trend could record the top price of 1.12699 that is the most important resistance level in front of price.As it is obvious in the picture below, the price has been stopped by reaching to the resistance line(red line) and is not able to ascend more which is a warning for buyers about changing price direction.

According to the formed movements in the chart, between the bottom price of 1.08101 and the top price of 1.12699, there us AB=CD harmonic pattern with the ratios of 61.8 to 161.8 that warns the price descends from the D point of this pattern.Stoch indicator is in saturation buy area follows the top price of 1.12699  and warns the possibility of descending during the next days.(In the H4 time frame). According to this point, this currency pair has experienced the strong ascending  trend in the past and also mentioned signs until this top price is preserved, there is the potential for price decrease and reformation in this currency pair.


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## PipSafe

USD/CAD from 2014.07.04 (formation of ascending trend third point) is in a strong and by reformation ascending trend that could experience a good price growth.Right now this currency pair could record the top price of 1.13851 during its ascending trend that according to the formation of recent candles, it is an ideal top price for descending .In weekly time frame the price has been stopped by touching the resistance level (1.12797) and the buyers could not reach to the higher prices.

Between 15th and 17th days according to the shape of candles in daily time frame, there is Shooting Star , Hanging man pattern that warns about descending of the price in this price range.(shows cashing of the buyers trades and the potential for formation of a top price)As it is obvious in the picture below, between the bottom price of 1.06207 and top price of 1.13851 , there is AB=CD harmonic pattern with ideal ratios of 50 and 200 that with completion of the D point , there is a warning for stopping of uptrend and changing price direction. Generally according to the current situation of price, until the top price of 1.13851 in daily time frame is preserved, price will have the potential for descending and reformation in ascending trend.


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## FXTechstrategy

*Daily Technical Strategist On USDCAD*

USDCAD: Declines, Eyes Further Downside.

USDCAD: With USDCAD declining strongly on Tuesday and following through lower on during Wednesday trading session, further weakness is envisaged. On the downside, support lies at the 1.1100 level followed by the 1.1050 level where a reversal of roles as support is envisaged. Further out, resistance resides at the 1.1000 level and then the 1.0950 level. On the upside, resistance is seen at the 1.1250 level followed by the 1.1300 level. Further out, resistance comes in at the 1.1350 level where a turn lower may occur. But if further recovery is triggered resistance comes in at the 1.1400 level. All in all, USDCAD continues to face corrective threats


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## PipSafe

USD/CAD had an ascending trend without a noticeable reformation during the recent weeks that shows buyer certainty in reaching to the predetermined targets. The price could record the top price of 1.13871 in weekly time frame which is fixed by descending candle. Currently in some time frames such as monthly, H4  price is under 5-day moving average (a consistent downtrend) and there is not any clear reason about ascending of price in these time frames.

As it is obvious in the picture bellow, according to the formed movements, the price is in divergence mode with Stoch indicator and confirms the mentioned top price is weekly time frame which generally warns the possibility of changing price direction.As it is obvious in the picture below, between the bottom price of 1.06102 and the top price of 1.13871, there is an ideal AB=CD harmonic pattern with the ratios of 50 and 200 that warns about the potential for a price downfall from the D point.Generally according to the formed signs in the price chart until the resistance level of 1.13871 is preserved , price has the potential for reformation in this currency pair.


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## PipSafe

Technical analysis of USD/CAD dated 2015.01.06

USD/CAD was in a strong and consistent uptrend during the recent weeks that buyers were successful in achieving the highest price of 1.18355.Price by reaching to the round resistance level of 1.18000 and the resistance edge of up channel has stopped from more ascend that shows buyers used this price level to exit their trades.There are Shooting Star candlestick pattern and also Harami Pattern in top price of 1.18355 that warns the potential for formation of a successful top price and Vulnerability of ascending trend for buyers.With close of the next bearish candle, this signal will be fix.

As it is obvious in the picture below, there is AB=CD harmonic pattern with ratios of 61.8 and 161.8 between the bottom price of 1.01841 and the top price of 1.18355 that warns changing price direction from D point.RSI indicator in Daily time frame is in saturation buy area and warns about descending of price according to the next cycle during the next days.(and confirms the harmonic D point)Generally until the Top price of 1.18355 is preserved, there is the possibility of decrease and descend of price in this currency pair.


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## purty151

*USD/CAD*

JUST TRADED USD/CAD SHORT  5.25 pm...12/01/2015  ...ON FRIDAY BROUGHT EUR/USD AND GBP/USD TO GO LONG...USD/JPY TO GO SHORT...so far USD/JPY UP 40 pips...EUR up 26 pips...GBP up 14 pips...CAD up 5 pips...Don't know how long I'm going to make a profit for but time will till...Don't understand support and resistance...channels...Andrew pitchforks...Fabonacci...etc...so have deposited $1000.00 into account and will see how we go


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## PipSafe

USD/CAD was in a strong and consistent Uptrend during the recent months that Buyers were successful in obtaining the highest price of 1.27981.price with reaching to the important round level of 1.28000 has stopped from more ascend( Buyers used this level to exit their trades) and with formation of a top price in weekly time frame has prepared a field for descending of price.

According to the formation types of price movements on the chart, there is a descending Bat harmonic pattern and by completion of the D point of this pattern, there will be a warning for descending and changing price direction.Generally according to the current situation, until the top price of 1.27981 is preserved, there is the potential for ascending of price and reformation of ascending trend.RSI indicator in weekly time frame is in saturation Buy area and warns the possibility of stopping of the ascending trend by the next cycle.


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## daytradeprofit

*usdcad price technical analysis*

the pic still positive but you should expect to see some more correction on the pair 
Break of 1.3000 level support last week was taken as a sign of trend reversal. That's supported by strong resistance from a long term retracement level at 1.3460. below 1.2930 area the trend remains on the downside, further fall should be seen to 1.2830 area, Break of 1.2830 will lead to 1.2740 from there it can continue to 38.2% retracement at 1.2630,strong support stay at 1.2450 area 
In the bigger picture,1.1960 support. That is 38.2% retracement of 0.9633 to 1.3456 

Break up again 1.3469 would Give approval for more upside like 1.43 area and even to 1.60 area in medium to long term.


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## Stratanu

*Trading View Today*: The USDCAD formed a negative outside day yesterday with 1,3295 – 1,3075 the levels to follow in the coming hours. While above the 55 days line at 1,3174 on a daily closing we expect further strength toward our m/t target!
The indicators of the daily chart are still well positive for now supporting further strength but those of the s/t charts are showing a mixed picture this morning suggesting further consolidation/ correction.
Market had already a retest of the 200 hours line, now at 1,3112, forming a potential positive reversal situation. I prefer however avoiding a new long position for now, instead I even take a short one with a stop at 1,3255!!


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## daytradeprofit

what will be the next move on Usd cad
You'll note on the outline that the estimated level held as backing at the major 2008-2009 highs in the usd/cad and again in mid-2015 appear again.
Since late January, the coin pair has slid in a precarious downtrend from its long haul highs close to 1.4700.
Taking after the July break up underneath this level, the usd cad tried the level in October. The previous decade-long backing surely demonstrated to now be resistance as the usd cad fizzled definitely at the breakdown level. As said, the cash continued to drop a further 12% drop in January. After 3 months, it has now mobilized back to the area break up range once more. Will this level serve as support. While the way that level has served as a 10-year turn point is unquestionably the best motivation to anticipate that the level will go about as resistance, it isn't the main reason. We would anticipate that this zone will give, at any rate, beginning, staunch resistance for the Canadian Dollar. Assuming this is the case, it might be characteristic of a more extensive hindrance in the worldwide "reflation" exchange that remaining parts essentially presently. On the off chance that the Canadian Dollar comes up short conclusively at this level, and other related resources go with the same pattern, usd cad might secure the post-January bounce
From technical side on usd cad  let's look at the charts:

On all my usd cad  posts  I was talked on the long term moves and try to Draw conclusions for the future on this pair ,my assumption that now if 1.2760 area will not hold we are going to see more deep moves to 1.2480-1.2530 area and from those level we can get bonce to 1.33 area


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## peter2

My FX accounts didn't match my spreadsheets as there was a pending buy stop taken while I was out (tennis). 

*USDCAD*: 4H trend trade (trend is up). There is an impulsive move up and a shallow pull-back (<50%). A buy stop was placed the buy at 1.2693, iSL at 1.2667 (26p).  The target placed earlier was the 127% fib level (1.2738). This was higher than T1.5 and coincided with the prior high. Price went higher thanks to Powell but that doesn't matter. The setup was taken with no thoughts of Powell's testimony, but it was in the same direction as the UJ 4H trend. That's not a coincidence. I look at other related markets for confirmation of trend.


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## Kryzz

Watching USDCAD closely here. Took out Feb's low over night and closed on it's high. Will be buying if it can push up from here with a tight stop, R:R would be substantial.


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## Cam019

Long USD/CAD @ 1.2850. Targeting a 3:1 R/R.


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