Usd/cad

[capstone22]

I'm building new short positions. (I've been short for many months)

Dollar is going to be feeling some pressure against all currencies. Especially as inflation pounds the economy (just look at Oil lately) US Stock market has been very weak, and Bernanke is about to expand liquidity to keep these markets up leading into the November election. Remember, Bush Admin hired him - he will do the calling of the incumbent party and they MUST have the Stock Market and Housing in tack.

CAD is going to drift toward a 1:1 ratio quicker than most think.

I have a long term outlook on this short, but will take the recent strength as an opportunity to nibble.

 

[Ivanovich]

When you say Ben is about to expand liquidity, you believe he's going to lower rates by the end of the year?

I don't know if I'd go down that road just yet.

 

[DrawDown]

CLOSED for 7-pts profit.

DD
1.1313

 

[Ivanovich]

You did the smart move backing out, Skalpz. Don't worry, we don't think less of you. This pair is hard to trade.

 

[DrawDown]

Quote from Ivanovich:

You did the smart move backing out, Skalpz. Don't worry, we don't think less of you. This pair is hard to trade.

Well, the trade was closed a win - will yours be?

Plus, I already have open trades in GBP/JPY, GBP/USD, USD/JPY and EUR/USD.

How much more can a man do??

DD

 

[Ivanovich]

I don't know if mine will be. That's part of trading - the unknown. I could have closed mine several times today (USD/CAD went down to 12.90) but to me, 7 pips is like finding change in my couch. I'm a bit more interested in a real gain, not a "win" of that nature.

And concerning your opening trades on other pairs - that's quite fascinating, but could you please stick to CAD in this thread? Particularly as it relates to USD/CAD.

Best of luck to you in your future "wins".

Quote from DrawDown:


How much more can a man do??

DD

How much more? I didn't ask you to open a CAD trade. IF you even did it, you did it to be a smart ass, because you wanted to go counter me just for the hell of it.

 

[DrawDown]

Quote from Ivanovich:

I don't know if mine will be. That's part of trading - the unknown.

I could have closed mine several times today (USD/CAD went down to 12.90)

"Coulda, woulda, shoulda."

Yeah, with my 4 other pairs in open trade... plus, the pairs they are... I don't even need to trade the Canadian dollar.

Good luck with it, though. I'm sure you'll have fun with the "unknowns."

The DrawDown

 

[capstone22]

Ivanovich,

Expand liquidity is not playing with interest rates.

It means, expand the Money Supply - or issue more dollars into the system.

 

[Ivanovich]

Quote from Ivanovich:

Just shorted at 1.1315 - oil and gold prices should continue this level until the mideast calms, and this is fundamentally supportive to CAD and detrimental to the USD. Additionally, the 1350 area is tough resistance.

I've put a stop up at 1380 or so and will take profit on a 1240 bounce.

Closed on the bounce from .1260. Only 55 pips, which equates to about little less than $500 but still not bad for a less than 24hour trade. If I had closed at 7 pips, I might have been able to get a salad at Olive Garden today.

Will look to re-establish shorts on a move to 1300.

 

[Ivanovich]

Re-established short at 1.1301. Same target and SL as previous.