USDCAD Goal line

AnotherBrian · Post by **AnotherBrian** » Sat Jan 31, 2015 3:23 am

As USDCAD goes screaming towards 1.3000 again.

Do you think it will stop at the goal line...again?

I don't know if it will reverse or crash through 1.300 for a touchdown, but it will stop. I'll be there for a low risk trade.

One of my random thoughts would be how pipmasher will do. It's doing great right now, and I like it because it uses reasonable stops, so even if this one didn't work out it won't spell disaster for the account. Oh, and yes I will be manually placing a trade or two (using Tipster Trendlines to place and manage the trade)

I re-read a blog post I did in May2012 that has screen shots of the 4 tops USDCAD previously made, with some zoom in shots. Go ahead, read it and let us know what you think?

Here is what USDCAD looks like today, this 30th of January.

2015-01-30_221345.png

AnotherBrian · Post by **AnotherBrian** » Sat Jan 31, 2015 5:29 pm

I'll be going short, setting up a bunch of shorts within the zones on my live account. Place the orders around the "goal line" Here's the zones.
Template attached with zones as shown on the pic.

Post by **SpiderX** » Mon Feb 02, 2015 2:24 am

Looks like a BARF in the making.

Cheers

AnotherBrian · Post by **AnotherBrian** » Mon Feb 02, 2015 4:56 am

SpiderX » Sun Feb 01, 2015 9:24 pm wrote:Looks like a BARF in the making.

Cheers

I agree. It's worth following as it nears these highs.

dudest · Post by **dudest** » Mon Feb 02, 2015 7:24 am

Hi Brian,

Good stuff. It's a great zone for price to turn

Waiting for some form of reversal on D1, W1 before shorting [ e.g, a nice big pinbar or evening star or H&S,... ]

20150202_usdcad_mn1_anotherbrian.png

.

AnotherBrian · Post by **AnotherBrian** » Mon Feb 02, 2015 4:35 pm

dudest » Mon Feb 02, 2015 2:24 am wrote:Hi Brian,

Good stuff. It's a great zone for price to turn

Waiting for some form of reversal on D1, W1 before shorting [ e.g, a nice big pinbar or evening star or H&S,... ]

.

That's the safest less risky way no doubt. Look for the reaction, it will give us a new zone and work from that one. I'll be watching the 4 hr for the reaction, then a re-visit to short. There are a few ways to play this aren't there.....

Post by **Geges** » Mon Feb 02, 2015 4:55 pm

AnotherBrian » Mon Feb 02, 2015 11:35 am wrote:
dudest » Mon Feb 02, 2015 2:24 am wrote:Hi Brian,

Good stuff. It's a great zone for price to turn

Waiting for some form of reversal on D1, W1 before shorting [ e.g, a nice big pinbar or evening star or H&S,... ]

.

That's the safest less risky way no doubt. Look for the reaction, it will give us a new zone and work from that one. I'll be watching the 4 hr for the reaction, then a re-visit to short. There are a few ways to play this aren't there.....

I decided to take a short position on this pair based on my understanding of BARF pattern.
My TS got hit last night so I re-entered this morning. Fundamentals probably at play on this
one as the Greenback should weaken with oil prices going back up...might take a while thou.
http://www.cnbc.com/id/102381893

AnotherBrian · Post by **AnotherBrian** » Mon Feb 02, 2015 5:22 pm

Weeks from now we'll be saying "I can't believe I didn't see that!!" Interesting to read the different views on this set-up.

Here's the set-up I'm looking at.

The recent highs is the green area, this screenshot is the area back in March 2009
I think it just tests the daily zone, and that means price is on it's way down. This zone hasn't been touched before so still fresh.

2.png

1.png

I'll look at get it on a pullback.The red lines are my pending sells. Live account of course. Stop just above the recent highs.

1.png

AnotherBrian · Post by **AnotherBrian** » Tue Feb 03, 2015 3:01 pm

Filled. Next I'll look for targets on the daily, using two targets.

I think once it finds demand it will be back up to the 1.3 mark again. Watching oil at the same time to see what happening, oil is also at or near strong demand.

This pair has been the shits for soooo long, ranging with choppy action, making it hard to find levels.

dudest · Post by **dudest** » Wed Feb 04, 2015 6:00 am

Nice call on starting the shorts earlier AB!

I was hoping for a retracement to 1.27 ( to form an 'M' ) but didn't happen

Let's see what it shapes up into

Cheers