Eur/Cad

[ah15]

Now the euro is observed good growth, we see that the candles on top of the larger, and rollbacks are not as big and the price is not time to roll back below .. and it turns out this trend steps ... so that is expected next week and can continue to grow with more volume and faster ... Goal 1. 2760 ...

[Tanveer333]

In my opinion, $148.5 shall be tested before stalking for buyers evidence. As it is now, it is late to to buy. I would wait
a pullback @ $148.5 then I would stalk for long there until $160.
P.S : a prediction doesn;t mean certainty. (e.g I predict the price will hit $160 but it can rise more or less. There is a probability so what it count is the risk management. Managing of position shall be taken in consideration on every trade. IMO it's a mistake to let the trade hit your TP without moving your SL in favor meaning you reduce the risk with every step the bulls reveal their take profit actions. (SL below higher lows). Market doesn;t fulfill your expectations, but his own will.)

[Asif777]

My opinion is that the Eur is strong and will continue to be except against the dollar. I'd rather sell. I've been selling from good levels, but the continuation is what I am looking for.....follow through. I am hedged at the moment. The pair went down fast to the 61.8% level on my monthly pivot indicator and pierced it with a huge wick. Yes, in my view we will see high 56 and much higher. But we will also see activity vis a vis Cad within my lifetime This sort of thing teaches detachment. Best from Hawaii several oceans away from yourself.

[Tanveer333]

Glad you said everyone!

Next two weeks big data for CAD - late this week and then rate middle of next. Here is a link to a site that I can't say gets it always right or wrong of course but you can see for sure trends even if the amounts conjectured are off the mark the people who created the table had reasons why they put in the trends they did in the pair

[Asif777]

Hi fellow traders, i would like to ask professionally about a particular situation i’m facing now. hahaha... i would definitely use some smart advice rather than ridicules.

currently i’m caught up in the trade of EUR/CAD. i came in and bought big lots for long @ 1.56102 & 1.56583 for my TP at 1.56990 around there. i had a bullish opinion to catch the final wave.

however that pair turned drastically and went down. now i’m caught with a situation ever since this pair dropped to 1.55252. I then started to short down (still holding my longs) to try to even out.

even though i have been a trader for quite some time. i definitely would need some good advice from everyone.

fyi, the position ONLY for this pair that i longed is big. therefore i will experience margin call. at the same time i don’t want to let go. that’s why i bought another big portion shorting down from 1.55473

do u think the price would climb back @ 1.56?
should i let go and suffer the loss now ?
what is your market view on this pair of currencies?

thanks for the kind efforts and advice in advance, mates

[Hanif484]

Also, I have read a lot of Mathtrader's post (great stuff) but this new system I am testing isn't based on average true range. It's based on trading in the direction of the latest impulse wave using hidden divergence as my entry criteria along with a couple of other filters. I am using 10% of the 20 day average daily range to determine the brick size for my Renko chart. This keeps the method consistent across all pairs.

When I have time I will be starting a new thread explaining this method. I have been manually testing this method for about 6 months and think I may be done tweaking it at this point. I started a TE a couple of weeks ago using all of the latest tweaks and would like to trade exactly this way for a couple more months before committing a larger amount of capital to this method.

[Sing]

Victoryindia's Avatar
Victoryindia , Victoryindia is offline
06-11-2011, 06:12 PM
Till now the pair unable to breakout to the weekly resistance @1.4352.
so it is likly to falling down just to retest the trend line then Up movements will be expected after
brokeakout of the weekly resistance.

[Tanveer333]

I have read every Renko thread on FF and have tried pretty much every free Renko indicator/ea. Sometimes my platform freezes when I have too many charts up so I have been using this one and it does what I need it to do. It's an indicator.

It needs DLL checked and uses 7 minute offline charts

[Asif777]

Thank you, thank you. Here is another thread that uses what I thought was similar to what you are doing ATR but that system uses ADR and looked for the difference: ADR vs ATR:

Well, this year seems quieter by far than last year though volatility now is the opposite of quiet. Use of renko with pivots has an entire system built around it on FF . Thank you for your ATR pip size for the box for this pair. Another pair that is very interesting now is EUR NZD which finally dropped below the trend channel. I Never get to London open but last night managed just two minutes and noticed that the very first thing that was done with EUR NZD was a sell

[Tanveer333]

It sounds to me like you are using an indicator-type Renko generator not an Expert kind. That's the kind I would like to use. Please upload any renko related indicator/expert that you are using and your template. I found an earlier message of mine on another thread that contains an indicator which changes the periods to what is desired if a two minute chart isn't available on the platform