USD CAD Short opportunity of the year coming up
Right, so this is something that I have been preparing to publish for weeks now.
I have been looking around tradingview, and a I see a lot of people publishing short ideas at my "Fool areas"
I believe these people will be burned by the fire and miss out twice on what might be the one wave you need to trade throughout 2017.
Catch enough of these moves and I propose you won't need to trade anything else for the entire year.
Obviously this initial chart is very rough, but this is how I propose that the flag formation that we have on Weekly is going to map out.
Confluences:
I have been looking around tradingview, and a I see a lot of people publishing short ideas at my "Fool areas"
I believe these people will be burned by the fire and miss out twice on what might be the one wave you need to trade throughout 2017.
Catch enough of these moves and I propose you won't need to trade anything else for the entire year.
Obviously this initial chart is very rough, but this is how I propose that the flag formation that we have on Weekly is going to map out.
Confluences:
- 61.8 fib of the initial drop making a beautiful textbook flag formation on weekly
- On Monthly, this potential head and shoulder pattern will finish wave 2, before the massive drop that will be wave 3
- On Daily, if you use Murrey Math, you will find that the +1/8 Sell line is directly aligned with the 61.8 fib. +2/8 Strong Sell is slightly below the stop loss area in the signal given on the chart
Comment:
For the love of god, don't enter early on this one.
Comment:
Additional confluence:
On January 20th I propose that Donald Trump being the new POTUS will set off the next recession - I fear that this recession will be in line with what happened back in the 1930s. A once in a lifetime shorting opportunity.
On January 20th I propose that Donald Trump being the new POTUS will set off the next recession - I fear that this recession will be in line with what happened back in the 1930s. A once in a lifetime shorting opportunity.
Comment:
Buying the right shoulder in the bottom of the channel expecting the final push to the top
Comment:
Obviously I was wrong about these movements. Selling would in fact have been a great idea. I underestimated the bearish potential this late in the flag formation.
Will look for price action in the bottom of the channel next week to see if we will finish off with a harmonic pattern before breaking the uptrend channel.
Will look for price action in the bottom of the channel next week to see if we will finish off with a harmonic pattern before breaking the uptrend channel.
Order cancelled:
Looks like the price won't make a new high prior to dropping. Will update with new analysis over the weekend to determine possible short entries.
