Eur/Cad

[Tanveer333]

I agree with you a down trend is comming, at this moment im not sure what will do in short term, maybe it will keep down trend, (my pivots points say that it will be not very hard, that means that maybe will come a big one in a couple of hours and we can see another down trend for the next days). But in long view maybe it will be a change of trend for long (in couple of days it depends if next hours, leet see how it is this downtrend). I don't attach any image because idk what will happen in short term.

Summary: 15 min chart (Useful for 1 day)
Avramis - Downtrend
Pivot Points - Corrections in both ways and waiting for a downtrend more bigger.
RSI with TC - More Downtrend Expected in the next hours.

[Hanif484]

I mainly deal with all the major/minor currencies - I don't focus on the exotics.

I keep my strategy simple. I just look for descending/ascending channels on daily charts. The on the third touch, if there's a buying/selling pressure in line with the trend I place the order at the opening of the next candle. Risk has to be 1:4. I never use indicators - I always think it's pointless knowing what price has done in the past! For example, indicators would have never predicted the huge downswings in many of the GBP and EUR pairs.

[Asif777]

Thanks, I didn't notice about that event. that explain some things. In which market are you focused? at this moment I'm looking NZD/CAD searching for longs. What u think?

In my strategy I use avramis,RSI and pivot points. What are ur favorites?

[Tanveer333]

The CAD strengthened because their CPI outperformed expectations. This is why the chart went down.

I've been holding a short on the GBPCAD as the downtrend reached the top of the channel on a 4 hour chart. Also, price action was telling me bulls were losing momentum (at that point).

[Asif777]

I dont know what happened but in a fast view the market is not secure to go long. In a medium term, maybe will be corrections in both ways (up and down). In long term, (1-2 days ) I will go long maybe monday or tuesday.

At this moment i placed some orders in buy let see if the corrections are enough to get some profit, if not as i said i will go long in 2 days. I place a sell too becouse there will be some downs in short term (maybe not, I'm not secure.)

In chart we can see that the avramis goes crazy, in medium term, it draws the start of a downtrend. (will see in some time)
the pivot points, draws some corrections is comming in both ways.
and the rsi draws the begin of some down trend more (maybe today).
Recommendation, wait until monday or tuesday to go long.

[Tanveer333]

Breakout of the zone of resistance (1.51679-1.51239), now support, formation of Three white soldiers, entry in the pullback.

[Asif777]

Anytime there's a dip, I like to jump in and buy and that's worked pretty well for me. Nothing crazy, but nicely enough. Thanks for sharing your research.

Here's the source for those graphs

[Hanif484]

I like your logic, and you definitely could be right. I have a hard time pulling the trigger on anything that isn't gold, to be totally honest. But I think currency is always a good second to gold. Here's the trend I've been watching:

[Tanveer333]

maybe: unless it sets a higher high
what's the calendar have tonight happening
looking at this pair for the first time a very significant candle yesterday on the 15th at a time of 15.00

[Asif777]

BUY on RED (MAJOR) / GRAY (MINOR) : possible BOTTOM
SELL on GREEN (MAJOR) / BLUE (MINOR) : possible TOP