this really helps out our hockey teams!
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Loonie ... the infamous USD/CAD
- Thread starter usdoutlaw
- Start date
To Ivanovich:
I stopped trading USDCAD in February, when it stopped following my model. Now just watching with interest and trying to figure it out.
It is axiomatic that every trend will end eventually. I'm now thinking this one may have another 300 pips to go, but I'm watching the economic figures and resource prices, and if and when a reversal develops that seems to be justified by the fundamentals I'm back in long. Right now, I still don't know what the #*(% is going on, and I don't trade under those circumstances. I am riding the USDJPY yo-yo and/or backing AUD, EUR and GBP against USD (I think they may have topped out now, though), and leaving USDCAD strictly alone.
I stopped trading USDCAD in February, when it stopped following my model. Now just watching with interest and trying to figure it out.
It is axiomatic that every trend will end eventually. I'm now thinking this one may have another 300 pips to go, but I'm watching the economic figures and resource prices, and if and when a reversal develops that seems to be justified by the fundamentals I'm back in long. Right now, I still don't know what the #*(% is going on, and I don't trade under those circumstances. I am riding the USDJPY yo-yo and/or backing AUD, EUR and GBP against USD (I think they may have topped out now, though), and leaving USDCAD strictly alone.
Wild ride last couple of days. I have a love/hate relationship with this pair. It has made me huge bucks, but has also caused me many headaches.
I didn't post my entry earlier, so I won't post it now. I shorted after the recent runup in USD/CAD due to bank of Canada comments and strength in USD. I had a not-to-tight stop and took a decent-sized position that the market overreacted. I just covered at .9666
Not bad, but this pair is crazy at times. If I got stopped, I would have opened a position to long thinking it was heading back to parity.
It could have been a bloodbath!
the infamous USD/CAD lives on.
I didn't post my entry earlier, so I won't post it now. I shorted after the recent runup in USD/CAD due to bank of Canada comments and strength in USD. I had a not-to-tight stop and took a decent-sized position that the market overreacted. I just covered at .9666
Not bad, but this pair is crazy at times. If I got stopped, I would have opened a position to long thinking it was heading back to parity.
It could have been a bloodbath!
the infamous USD/CAD lives on.
Anybody doing any selling of this pair yet?
thing is with the usd/cad, i been watching it since feb and now its getting near crunch time, even if it drops another 300 pips, if it gets back to parity by year end who cares, as theres 500 points made from here
need a oil change after 500 miles to get things moving up. Even though we can't get any oil out of the ground, it is there somewhere.
i really think this thing is going to 1.10, or close to it without so much as a pause - everyone was talking about 1.04 for so long (up here in canada) and we didn't pause there - it is like a leveraged oil play: usd goes down, so CAD goes up, and oil goes up and CAD goes even higher...this chart is a couple of weeks old now, but the point is still very clear - CAD = SMA for oil. the historical value of the currency does not have much precedent here.
ben
fastforwardfutures.blogspot.com
ben
fastforwardfutures.blogspot.com