FXjake's Free Pips

USD/CAD once again fails below 1.1123 resistance and retreated. Break of 1.1004 minor support turns intraday outlook neutral again. On the downside, further break of 1.0870 minor support will flip intraday bias back to the downside for 1.0718 support. As noted before, break there will indicate that price actions from 1.0631 are merely consolidation in the larger decline, which is still in progress for another low below 1.0631 before completion. On the upside, break of 1.1123 resistance will confirm that whole rally from 1.0631 has resumed and affirm the case that USD/CAD has indeed bottomed out already. In such case, stronger rise should be seen to 1.1723 resistance next.[actionforex]

Trade Idea: Buy UsdCad

P&F USDCAD5 Box Size 10X3 or(0.27%) HI/LO
Data 1.1101 - 1.0791 ~ 0 Month ~ 7.27 Day
Database 1508 records 1.10269 (Last Close)
2009-08-28 00~50
2009-09-04 07~25
(GMT+01:00) Paris

BJF Trading Group

Code:
1.1110|~1O|||_________________________________|-0.08%|2.96%
1.1100|~2O|||=====================X===========|0.01%|2.86%
1.1090|~3O|||_______X_____________XoX_________|0.1%|2.77%
1.1080|~4O|||_______Xo____________XoXo________|0.19%|2.68%
1.1070|~5O|||_______Xo____________XoXoX_X_X___|0.28%|2.59%
1.1060|~6O|||_______Xo__________X_XoXoXoXoXo__|0.37%|2.49%
1.1050|~7O|||_______Xo________X_XoXo_oXoXoXoX_|0.46%|2.4%
1.1040|~8O|||_______Xo________XoXoX__oXoXo_oXo|0.55%|2.31%
1.1030|~9O|||_______Xo________XoXoX__o_oX__oXo|0.64%|2.21%
1.1020|~1OO||=======Xo========Xo=oX====oX==o=o|0.73%|2.12%
1.1010|~11O||_______XoX_______X__o_____oX_____|0.82%|2.03%
1.1000|~12O||_______XoXo______X________oX_____|0.91%|1.94%
1.0990|~13O||_______XoXo____X_X________oX_____|1%|1.84%
1.0980|~14O||_______Xo_o____XoX________oX_____|1.09%|1.75%
1.0970|~15O||=======X==oX=X=XoX========o======|1.18%|1.66%
1.0960|~16O||_______X__oXoXoXoX_______________|1.27%|1.57%
1.0950|~17O||_____X_X__oXoXoXoX_______________|1.36%|1.47%
1.0940|~18O||_____XoX__o_oXo_oX_______________|1.45%|1.38%
1.0930|~19O||___X_XoX____oX__oX_______________|1.54%|1.29%
1.0920|~2OO||___XoXoX____oX__oX_______________|1.63%|1.2%
1.0910|~21O||___XoXo_____oX__o________________|1.72%|1.1%
1.0900|~22O||___Xo_______oX___________________|1.81%|1.01%
1.0890|~23O||___X________oX___________________|1.9%|0.92%
1.0880|~24O||o==X========o====================|1.99%|0.82%
1.0870|~25O||o__X_____________________________|2.08%|0.73%
1.0860|~26O||o__X_____________________________|2.17%|0.64%
1.0850|~27O||oX_X_____________________________|2.26%|0.55%
1.0840|~28O||oXoX_____________________________|2.35%|0.45%
1.0830|~29O||oXoX_____________________________|2.44%|0.36%
1.0820|~3OO||oXoX_____________________________|2.53%|0.27%
1.0810|~31O||oXo______________________________|2.62%|0.18%
1.0800|~32O||o================================|2.71%|0.08%
1.0790|~33O||_________________________________|2.8%|-0.01%
Column|~34O||954135411373993581345954641133533|
Count|~35O|||___2___81________4________OO_____|

PDF
 
will buy USDCAD if it breaks 1.0828

stop at 1.0665

target 1.1000

(but will watch closely at 1.0890 to see if it looks like it may reverse)

Happy Trading!
 

Attachments

Quote from FXjake:

will buy USDCAD if it breaks 1.0828

stop at 1.0665

target 1.1000

(but will watch closely at 1.0890 to see if it looks like it may reverse)

Happy Trading!


Obviously, this went up to that 1.0880-1.0890 area and reversed pretty quickly, I would not hold on to this trade if you are still in...
 
These orders will trigger tonight, most likely......during EU session


EURCAD
Sell at 1.5845
Stop at 1.5690
Target 1 1.5560
Target 2 1.5410

EURGBP
Sell at 0.8723
Stop at 0.8830
Target 1 0.8670
Target 2 0.8540

AUDNZD
Sell at 1.2243
Stop at 1.2478
Target 1 1.2200
Target 2 1.2140

EURAUD
Sell at 1.6835
Stop at 1.7010
Target 1 1.6740
Target 2 1.6400
 
are you using pnf to choose your sr? how different are your results in a ranging market? just curious . im sure you still make money, but just wanted to know if it is a bit less.
 
Quote from xburbx:

are you using pnf to choose your sr? how different are your results in a ranging market? just curious . im sure you still make money, but just wanted to know if it is a bit less.

Hi

Not sure what pnf is, can you let me know and I can respond to your question.......

As for ranging markets, well, sometimes it helps to drop down to lower timeframes........ but otherwise I simply wait for price to get extended before entering....


Happy Trading!
 
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