PAIRS CHARTS - FOUR TIME FRAMES WORTHY TO CONSIDER
Notice this long term correlation between the CADUSD and USOIL.
First - look at the MONTHLY chart over 10 years and look for times when they are noticeably out of relationship.
Second - look at the WEEKLY chart over 5 years.
Third - look at the DAILY bars over 1 year and see how tightly structured these to markets are lately.
Fourth - look at the 4-HOUR bars over 1 month to again firmly establish a tight working relationship.
If you can find a time when these are out of position with each other, then I believe a trade is setting up.
For the moment, however, I do NOT see a trade.
Sincerely,
Tim
8:47AM EST Monday, March 28, 2016 .7564 last CADUSD
First - look at the MONTHLY chart over 10 years and look for times when they are noticeably out of relationship.
Second - look at the WEEKLY chart over 5 years.
Third - look at the DAILY bars over 1 year and see how tightly structured these to markets are lately.
Fourth - look at the 4-HOUR bars over 1 month to again firmly establish a tight working relationship.
If you can find a time when these are out of position with each other, then I believe a trade is setting up.
For the moment, however, I do NOT see a trade.
Sincerely,
Tim
8:47AM EST Monday, March 28, 2016 .7564 last CADUSD
Comment:
CADUSD broke out to a new high while USOIL keeps heading south. Once a previous day's low broke in CADUSD the market has backed down. There is more downside, about 2% for CADUSD to the 0.75 level to match where USOIL is now.
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