Hello libertysilver,
I see that you are trading from the 1H chart; I am looking at this more long-term, with the USD/CAD pair having reached and bounced off an important Fib level (50% retracement); see my chart here:
Yes I did trading in this pair too on demo account. I try gold a lot with low lot on demo .It is profitable but risky pair. One should have complete knowledge and experience to handle gold. Slide market movement effects on trading results. In real trading too we should use lowest lots to reduce risk element.
[QUOTE=“PipMeHappy;616467”]I like your thinking…[/QUOTE]
I closed gbpusd it’s looks to be going to that 1.67 area
[QUOTE=“UMOFX AIR;616667”]Yes I did trading in this pair too on demo account. I try gold a lot with low lot on demo .It is profitable but risky pair. One should have complete knowledge and experience to handle gold. Slide market movement effects on trading results. In real trading too we should use lowest lots to reduce risk element.[/QUOTE]
I agree gold moves hundreds of pips daily as for gbpusd /eurusd good pairs to keep up with I mainly focus on gold or usdcad
Mind you, Libertysilver, it may look bullish (as it bounced off the floor of that channel), but since the end of last week, where it closed at 1.6633, it has only risen about thirty pips (at this particular moment it is sitting around 1.6663)… so, it ‘may’ be heading toward 1.67, and indeed it could, but there is nothing saying that it may not… The ATR is very low compared to the pair’s historic volatility, so there is something brewing… I hope that you did not lose too much getting out of this trade.
Happy trading.
[QUOTE=“PipMeHappy;616870”] Mind you, Libertysilver, it may look bullish (as it bounced off the floor of that channel), but since the end of last week, where it closed at 1.6633, it has only risen about thirty pips (at this particular moment it is sitting around 1.6663)… so, it ‘may’ be heading toward 1.67, and indeed it could, but there is nothing saying that it may not… The ATR is very low compared to the pair’s historic volatility, so there is something brewing… I hope that you did not lose too much getting out of this trade. Happy trading.[/QUOTE]
Right now I’m trading with one of my small accounts so it wasn’t that big of a loss but , Im watching this pair becuase I want to re enter soon
USD/CAD keeps testing the bottom of that floor/support, and in just over an hour we will see whether the simultaneous release of USA and Canada employment/unemployment figures will push this pair to break to the downside or bounce to the upside.
Either way, there will be opportunities both in the short term (trading the rallies) or in the longer term (trading the trend) in pairs such as CAD/JPY, USD/CAD, AUD/CAD…
All the best, and, as I like to say,
Happy Trading!
[QUOTE=“PipMeHappy;618063”]USD/CAD keeps testing the bottom of that floor/support, and in just over an hour we will see whether the simultaneous release of USA and Canada employment/unemployment figures will push this pair to break to the downside or bounce to the upside. Either way, there will be opportunities both in the short term (trading the rallies) or in the longer term (trading the trend) in pairs such as CAD/JPY, USD/CAD, AUD/CAD… All the best, and, as I like to say, Happy Trading![/QUOTE]
Usdcad is suppose to go up , I still have a long term target of 1.1400 yeah it keeps testing that 1.09 area it may break bellow that support next week but I don’t see it breaking for long it may have a sharp swing up soon , markets just need that solid peice of data to give it that momentum back to the upside