Forex Day Trader's Thread

[RidderTrade]

wont move at this time,.. but you can better be in..before it SKY ROCKETS

 

[RidderTrade]

I'm going to hold on to USD/CAD .. red line just bottomed out on daily stochastics, MACD and RSI

daily stochastics is about to cross, and you will be too late if you are to FEARFUL
to JOIN

 

[RidderTrade]

could be i will be adding extra in later stage, actually my basic rule is to only add
to profitable parties.. add to your GLORY.. NOT TO YOUR DOOM

 

[Pippy5000]

US non-farm payroll and Canadian employment data tomorrow will move USD/CAD plenty..

I'm amazed that it is as low as it is with the drop in oil..

 

[RidderTrade]

news doesn't make trends

 

[RidderTrade]

we could be in for a volatile ride tomorrow though

 

[Pippy5000]

news might not make trends but it can certainly move a pair a long, long way..

here's more good news.. 86.87% of traders are short CAD pairs.. this is a huge signal to go long as 95% of traders lose ..

http://www.dukascopy.com/swiss/english/marketwatch/sentiment/

 

[RidderTrade]

have nice night

 

[RidderTrade]

news might not make trends but it can certainly move a pair a long, long way..

here's more good news.. 86.87% of traders are short CAD pairs.. this is a huge signal to go long as 95% of traders lose ..

http://www.dukascopy.com/swiss/english/marketwatch/sentiment/

sure, also there is also no one left to sell, if 86.88 is already short.
could be huge turnaround soon..

 

[RidderTrade]

however there is one thing to keep an eye on.. today we made a high above yesterday high..but we closed under yesterdays close.. which is a bearish reversal.. however dont have to work at the levels which we are in now.. however there could be 1 more down leg,before the skyrocketing start.

 

[RidderTrade]

i am off guard it please

 

[Pippy5000]

I will now .. USD/CAD trade finally profitable.. take care Ridd.. see you tomorrow..

 

[N Rothschild]

news might not make trends but it can certainly move a pair a long, long way..

here's more good news.. 86.87% of traders are short CAD pairs.. this is a huge signal to go long as 95% of traders lose ..

http://www.dukascopy.com/swiss/english/marketwatch/sentiment/

i like your thinking. is dukascopy showing just retail positions or does it include commercial?

 

[N Rothschild]

gbp/usd action over last few days looks like short covering to me, rallied off the lows with high volume but falling open interest (futures), if there was heavy buying going on there would be increasing open interest. time to short it again soon perhaps

 

[N Rothschild]

infact going short now, stop above the highs.

edit: first target 1.5000

 

[Pippy5000]

I don't know man.. I just found that site today .. pretty great information isn't it??

CAD is now 90% long!! I screwed up earlier and said they were short..

sentiment indicators are contrarian indicators because the herd loses in general.. meaning if 90% are short then long is a good bet..

so 90% long CAD would actually equate to a majority of short positions USD/CAD .. I've got a long order in at 1.168 with a stop at 1.138

 

[RidderTrade]

you think cad is going to 1.168 pippy 500?

 

[RidderTrade]

usd currently gaining...

 

[RidderTrade]

GBP/ USD also down , also the EURO/USD slightly..


usd/cad slightly up..

think there be more movement later today

 

[RidderTrade]

I don't know man.. I just found that site today .. pretty great information isn't it??

CAD is now 90% long!! I screwed up earlier and said they were short..

sentiment indicators are contrarian indicators because the herd loses in general.. meaning if 90% are short then long is a good bet..

so 90% long CAD would actually equate to a majority of short positions USD/CAD .. I've got a long order in at 1.168 with a stop at 1.138

you bailed out on your usd/cad?..

as you have put new order around 1.168