USDCAD: Time at mode downtrend signal update

FX:USDCAD   U.S. Dollar / Canadian Dollar
369 32 17
We're close to the expiration date for the longer term signal but the last target hasn't been reached.
I expect to see a reversal from here, which judging by the crude oil             chart, will come in a day or two.
Looking to go long, watching for the perfect entry. We need patience, because RgMov is still pointing down, and we have new lows every 5 bars still, so trend is still down, technically.
The minimum target for a long position would be a retest of the previous mode from where the downtrend launched.

Good luck!

Trade closed: target reached: Time expired, price surged. Perfection.
IvanLabrie PRO IvanLabrie
Rgmov makes a very strong point here...buy the dip.
Excellent move up, might cool off for a while now.
Intense rally!
We retested the previous downtrend target, a significant level.
A retracement entry would offer a good trade, I'll try to spot one in the lower timeframes.
Closed the whole position. Waiting to reenter. Price reached a previous daily mode and cadjpy as well crude might have some pending upside still.

Mode retest, and new uptrend signal.
Uptrend looks good.
+1 Reply
Thanks for the update, Ivan. I'm still trying to fully understand Tim West's "Time at Mode" methodology. If there are any links you can provide to help reduce the learning curve, I'd appreciate it. Cheers!
Hopefully this chart helped many people earn profits.
We have an exciting week ahead, I'll keep updating it with my insights.
Shout out to Tim West, I'm merely a beginner with his technique, so check out his charts for more info on time at mode.
Really powerful methodology!
Thanks for sharing your insights, Ivan. Much appreciated. Enjoy your weekend!
+1 Reply
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