Predictive Model + Prop Pattern define following targets: PREDICTIVE/FORECASTING TARGETS: 1 - TG-1 = 0.88109 - 27 NOV 2014 2 - TG-2 = 0.91489 - 27 NOV 2014 and 3 - TG-Hi = 0.96624 - 27 NOV 2014 SUPPORT DEFINITION: 1 - Bearish entrenchment range: - 0.84951 to 0.87320 and 2 - Support at 0.83575 TRADE INVALIDATION CONDITION: BACA < 0.81599
LONG AT .786 AND WILL STAY LONG AS LONG AS IT IS ABOVE .786 FROM LOWER BOTTOM.
Sitting at a happy 102 I reassessed my long position and closed it in profits. Currently, we are reaching a cross over on the 30Minute chart and 1HR chart. Don't see it sitting low for long, probably see a 0.50cent drop and rise within the next week or two. No real data on this call, just speculating
Friends, While the predictive/forecasting model is posting an early bearish market reversal signal, there are also fundamental and technical reasons to consider a potential bearish downturn in this $GBPCAD pair FUNDAMENTALS: Central bank decision regarding UK is expected to maintain interest rates unchanged. This implies that $GBP won't gain rally without...
USD/CAD reacted very well to the formation 'Head and Shoulders'. 1.1571 is 200% fib measurement of the low of the right shoulder and the high of the high shoulder. Also to keep in mind we have a 0.618% fib very close (fib of the 2011 low and 2009 high). On the other hand, to give us even more support of this zone, we have a very clear trend line (blue line) which...
On technical point its i good opportunity to long that pair. First its in a kind of bullish trend channel. Secondly we heading to major support area around 1.78x. End last but not least we see some good data from UK. British GDP expanded 3 percent YoY in Q3. The number of unemployment persons is shrinking. British Unemployment Rate is now at 6%. Good entry at...
Traders, JANUS PROP PATTERN TIMES TWO: This is one of those rare trades I put out that depend solely on a proprietary pattern I have named Janus. In fact, there are two of these patterns playing out on two separate timeframes. If the pattern influence price towards their respective completion, then TG-Hi = 103.703 should be answered first, followed by TG-Lo...
Days ago, it attempted to go down into the trend line but it failed to pass through a support line and created to what it looks like a double bottom. After that, it broke the trend line, but it returned back to the trend making it a false alarm. Right now, it is in a place where it can break down or up. If it goes down, it will try to test the double bottom to...
Looking to get long this pair if we see some momo breaking us out of this consolidation area to the upside!
EUR has been written off by many. But I am not sure about that. May be it is CAD in real trouble or may be EUR might have trick up it's sleeve, or may be bit of both. But leaving bias aside and preconceived ideas, I smell a massive swing trade to the long side with potential upside target in the range of 1.61 as it continue to carve out what looks to be a large...
I am bearish on the US dollar, and I expect the loonie to gain ground. The BoC is not engaging in reckless monetary policy, even though, at times, traders found them absent. Canadian CPI is stronger - just above two percent YoY - than in the US, which should favor CAD. The Fed wants a weaker dollar. The Fed said it; Yellen said it. Don't fight the Fed, right? The...
In the previous chart published, the downside was only partially without the major follow through expected. See So at the time only scratched trade at worse. It was based on weekly chart so not completely surprise and should have wider margin before completely discounting or calling it failure. So revisiting this chart, overall all reasons given earlier are...
1D Chart: Looking at EOX with a few tooly indicators we can see that we are sitting at a newly formed floor, we haven't seen this positioning since Feb 2013. Using the Fib retracement tool from the bottom of this past week we can see a nice movement bounce to around $7.2- this could be a really good spot to enter as the market will either bounce into a new support...
Over the very long term it seems that EUR has been loosing ground against CAD as can be seen from this monthly chart of the par in that it is forming what appears to be a large falling wedge. That said, we are in development of a large zigzag for Wave 4 and have near completion of the retracement. Note the following: 1. 50% Fib retracement of the move of the...
After looking at my GBPAUD dollar trade in the morning we noticed other head and shoulders patterns on the GBPCAD, we waited until the price broke below the resistance level and believe this trade will be completed within the next 6-12 hours. This is a pretty simple High probability trading set up and should be a really good trade. Trigger!
Traders, Price finally broke below the 1-2-3-4-5 internals, indicative of a EAGLE completion and origination of an Elliott Wave's ("EW") 1st Wave of a larger nascent pattern. Current prolongation appears to be an EW Wave-3, with an uncertain end-point, except for a potential retracement level from: - TG-1 = 98.148 - 22 SEP 2014. This retracement would be...
Friends, A nice example of an Elliott Wave pattern completion, called a RUNNING Flat, with 3-3-5 internal wave structure, and Wave-B ending significantly past the origin of Wave-A, whereas Wave-C fails to line up with termination level of Wave-A, indicative of a "hurrying" market in resumption of a the trend, here: DOWN. Target is purely geometric, based on a...
Recorded a video of this trade to my Synidcate members earlier in the day but ran out of time to post this before my Live Room started. But with not a lot on my radar this morning AUDCAD was a pair that really stood out to me. Not only has the market put in a beautiful double bottom along with bullish divergence and the RSI being oversold. But we're also right at...