moorekapital

USDCAD: UPTREND CONTINUATION?

FX:USDCAD   U.S. Dollar / Canadian Dollar
201 14 9
If you look back into history, the most recent HIGH had been 1.30600 , Printed on 2009|03|09

This high of 2009 was violated recently on 2015|07|24 Price danced around this zone for a while, but managed to stay above it, and built a MODE of 18 solid days consequently.

Last Thursday, on FOMC day, this 18-day MODE got disconnected to the downside, and price is expected to down further but this seems failing

The erstwhile RESISTANCE of 1.30600 now seems a SUPPORT, as price got strongly rejected on FRIDAY,2015|09|18

Again, looking back over time, there's a MAGNETIC MODE at 1.3500.

THIS IS WHAT I SEE:
Should we successfully jump above the current 18-day MODE, and more so, BO above the RANGE HIGH=1.3350, then 1.3500 is NEXT.
Ok. Expectation met. We broke that 1.33500000. What next??? Now, Im not gonna chase any buy for now. I'll allow the herd to take the lead. I'll follow. But I'll follow in between. When several other herds have also taken their positions. Im looking at two possible scenarios = Indicated by the different colours of the arrows. Good Luck!
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What if that candle behaves as a hanging man? Weekly bearish divergence still not confirmed, this might be it.
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Yahia.Awes Yahia.Awes
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moorekapital Yahia.Awes
Jesse Livermore (the greatest stock trader of all time) once said "We are paid to sit on our hands." This is true.....the market is obvious most of the time....if you zoom out far enough, and wait. We're definitely at a critical zone, and it would be interesting to sit on ones hands and let the market tell us where its going next
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Yahia.Awes moorekapital
That is why I say it might be more a bear than a bull, because of the monthly hammer in crude oil also...
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moorekapital Yahia.Awes
I prefer taking hot zones off weekly, and narrowing it down to daily/4H for PA triggers. Check my 4H chart
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moorekapital moorekapital
All we need is the right PA at these areas. I shall wait, and trade accordingly. I'm reaping pips with my blinds drawn to "what not and what not "
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Yahia.Awes moorekapital
I agree with you.
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Yahia.Awes Yahia.Awes
Here is one which is really HOT now...
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moorekapital Yahia.Awes
Great levels to look at on EURCHF. But i dont trade this one.
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