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    Page 157 of 157 FirstFirst ... 152 155 156 157
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    Thread: balut's trading journal

    1. #1561
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      Quote Originally Posted by Kalex View Post
      yes the GBPCAD is on the uptrend ride but at the last moment in the H4 timeframe @1.7772 region ,a bearish setting appeared in the candlestick pattern ,now next week it will be a good challenge for the pair to fight back for a breakout in this level.Keep eye on the daily candelstick ,if that appears bearish ,who knows we can see some downtrend next week.
      I said it earlier today that gbpcad would be doing more of a downward movement based on the fundamental release of today, although it wasn't in favour of Cad but the news couldn't hold the pair upward as we could see that the pair has been trending downward since after the news because traders saw the news release as an opportunity to short the pair since the uptrend has been on for a long. Sellers where now more than the buyers and the pressure resulted to the bearish move we have been experiencing.

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    2. The following 6 users say Thank You to Oriakhiebillz for this useful post.

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    4. #1562
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      Quote Originally Posted by balut View Post
      TRADE UPDATE:

      Hooray! GBPCAD is going strong that's why I added another buy position using the same TP with my other floating trades. I'm doing the scaling method where I will try to add another position every time this pair breaks a resistance. This is a double edge sword strategy because I can earn more but I can also loss more if the market goes against my position. Today is a volatile day for CAD due to high impact news of CPI m/m and Core Retail Sales m/m news release but whatever the result I think the GBP strength will still overcome it.

      GBP got strengthen due to bank of england perception of hike in the interest rates so it has riden to upside and CAD data had come negative so it was dragged down and ultimately the driver was GBP/CAD pair as both the conditions are favourable in the bull side for this pair. It was technically also nice setup with long term bull trend on the pair. We can see more upside and Balut you have done excellant job to buy this pair and bagged descent profit from it.

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    6. #1563
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      Quote Originally Posted by balut View Post
      I'm doing a swing trade so my basis for closing this GBPCAD buy trades will rely on the condition of the daily candlestick. The CAD CPI result turned out bad so all my buy positions are doing great. I hope you're doing fine with your USDCAD sell position, I'm not sure if you're already locked at breakeven or have a manageable stop loss.
      My trade on USD/CAD is no problem although CPI data result declined from the previous month. USD is still weakening due to profit taking action by investors and other than that Philly Index goes down drastically. Of course this makes many investors worried about trader war fueled by the Trump policy if it continues like this will adversely affect US economic outlook. I will see the development of the US economy next week and the end of the month is also very crucial for trading. Hopefully we get satisfactory results before stepping on the next month.
      don't use Luck in the trade but it would be better to use Greed
      hoping for something without hard work will not give anything

      dedy hari kurniawan's trading journal

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    8. #1564
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      Quote Originally Posted by Bobby brown View Post
      nice trade mate i am currently on the same trade including euro/cad,seem like cad is very weak and its against all it counter pair.i don't analyze fundamental neither do i know how to trade the news maybe that's why i have been losing this few weeks but my guess on cad is right based on my technical strategy,few minute ago my trades on cad/chf took profit including cad/jpy so its really weak, enjoy the bullish ride mate.
      I also don't focus too much in fundamentals since my technical analysis is lagging so it means that most of the time my analysis are based on the result of fundamental factors. Good luck on your CAD trades.

      Quote Originally Posted by **BD View Post
      that is good decisions for buying more gbpcad .because of the news today cad movement high impact but this is the end of movement today and we have to look for next week. as we know cad is always a strong currency and definitely we have to look for the GBP news so that we can easily understand the real trend. i think long term selling gbpnzd can be a wise decision ,you can see the daily chart .

      Spoiler Spoiler:
      Based on the weekly closed candle of GBPCAD, it looks like the bulls are still in control of the trend. Actually, I have a different point of view in GBPNZD because I'm waiting to buy it if it will have a premium setup next week.

      Quote Originally Posted by shahidmehmopd View Post
      Very nice Sir bulat, Cad has proven very strong as expected due to 2 news same time as happened with Pound last day. I hope you have achieved your desired target till yet and now enjoying your victory. Best of luck for your this trade.
      I haven't hit my target yet and my GBPCAD buy position is still in the middle stage due to a deep retracement lately. I'm waiting for monday's market open to see if there's a gap and I hope it won't hit my breakeven stop loss.

      Quote Originally Posted by Kalex View Post
      yes the GBPCAD is on the uptrend ride but at the last moment in the H4 timeframe @1.7772 region ,a bearish setting appeared in the candlestick pattern ,now next week it will be a good challenge for the pair to fight back for a breakout in this level.Keep eye on the daily candelstick ,if that appears bearish ,who knows we can see some downtrend next week.
      You're right, the deep retracement is very scary but as long as the 1.7578 support hold then there's nothing to worry yet. I will be saddened if GBPCAD turn bearish next week.

      Quote Originally Posted by Omoba9ce View Post
      The CPI and retail sales were disappointing, so Cad is not strong. The news release saw price move over 100pips in just 10mins against the Canadian dollar in all its pairs. However, price managed to regain over 80% of its move, when it fell back down obviously, Cad has been undervalued and price couldn't just go higher.
      Maybe this sudden bearish retracement of GBPCAD is only the effect of profit taking during friday.

      Quote Originally Posted by dedy hari kurniawan View Post
      My trade on USD/CAD is no problem although CPI data result declined from the previous month. USD is still weakening due to profit taking action by investors and other than that Philly Index goes down drastically. Of course this makes many investors worried about trader war fueled by the Trump policy if it continues like this will adversely affect US economic outlook. I will see the development of the US economy next week and the end of the month is also very crucial for trading. Hopefully we get satisfactory results before stepping on the next month.
      Good thing to hear about your USDCAD trade. I'm also anxious about the end of the month because I want to see the monthly candle formation of all currency pairs especially the GBPCAD if the bull trend is still valid.

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    10. #1565
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      Quote Originally Posted by balut View Post
      I also don't focus too much in fundamentals since my technical analysis is lagging so it means that most of the time my analysis are based on the result of fundamental factors. Good luck on your CAD trades.



      Based on the weekly closed candle of GBPCAD, it looks like the bulls are still in control of the trend. Actually, I have a different point of view in GBPNZD because I'm waiting to buy it if it will have a premium setup next week.



      I haven't hit my target yet and my GBPCAD buy position is still in the middle stage due to a deep retracement lately. I'm waiting for monday's market open to see if there's a gap and I hope it won't hit my breakeven stop loss.



      You're right, the deep retracement is very scary but as long as the 1.7578 support hold then there's nothing to worry yet. I will be saddened if GBPCAD turn bearish next week.



      Maybe this sudden bearish retracement of GBPCAD is only the effect of profit taking during friday.



      Good thing to hear about your USDCAD trade. I'm also anxious about the end of the month because I want to see the monthly candle formation of all currency pairs especially the GBPCAD if the bull trend is still valid.
      Even despite the disappointing CAD news, cad recovered from its knee jerk spike and went on to close lower at price
      This shows that most of the cad news have been priced in the market and that's why cad was so resilient. Usd/cad seems to be coming down and might must enter into its channel movement once again. if trade war tensions reduces, the Canadian dollar which is a commodity dollar will gain some strength.

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