Didn't quite hit target, but nice enough. Nearing the .50 retrace. See how it handles or if it it blows right through to the .618.
Comments
GMOTruths
⋅
It retraced some on the daily…
2015-02-03 ……… $27.30
2015-02-05 ……… $24.93
That 0.618 level you have on there at about $32.50 looks like a resistance level to me, but it's already bounced of that level once on the way down. It's not fresh.
For supply levels, I like to see a good level as base-drop, or rally-base-drop, or even drop-base-drop. This is a bounce and then back down. I haven't learned harmonic trading yet, so I can't commetn to that. But there may be a resistance bounce around 32.50.
$35.00 on the daily is a nice drop-base-drop. There was a big sell-off starting at that price.
I'll keep my finger on the button for that one and see what it does. Got a feeling it's gonna make it right on through the current supply level, but will watch closely on this one. The
tradingview.com/v/uMSi78An/
Some fundamentals:
CADUSD is turning on the Monthly supply levels, and is inversely correlated with Crude (CL1!). Strong Canadian dollar, Strong Canadian Company, über bullish sector (energy).
tradingview.com/v/crboJkPU/
2015-02-03 ……… $27.30
2015-02-05 ……… $24.93
That 0.618 level you have on there at about $32.50 looks like a resistance level to me, but it's already bounced of that level once on the way down. It's not fresh.
For supply levels, I like to see a good level as base-drop, or rally-base-drop, or even drop-base-drop. This is a bounce and then back down. I haven't learned harmonic trading yet, so I can't commetn to that. But there may be a resistance bounce around 32.50.
$35.00 on the daily is a nice drop-base-drop. There was a big sell-off starting at that price.
I'll keep my finger on the button for that one and see what it does. Got a feeling it's gonna make it right on through the current supply level, but will watch closely on this one. The
tradingview.com/v/uMSi78An/
Some fundamentals:
CADUSD is turning on the Monthly supply levels, and is inversely correlated with Crude (CL1!). Strong Canadian dollar, Strong Canadian Company, über bullish sector (energy).
tradingview.com/v/crboJkPU/