Predictindex

404 No Direction Found (UC)

FX:USDCAD   U.S. Dollar/Canadian Dollar
64 7 3
See chart.

Be careful with the break out (orange area), but I think the chance to very low.
Comment: If price stands above the orange area, then we will confirm UC is in uptrend. Otherwise it's only good for scalping.
Comment: ...
Hello, have liked your ideas cause it is very accurate approach for the work.
Don't you see mistakes here? I think that there is hight probability to grow from this level (or lower - app. 1.28) till 1.33-1.34 and higher.
Don't you prepare for a huge deep in oil?
Good luck in all your trades.
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Predictindex FreshOilTrader
snapshot


Hope this chat solve your confusion
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FreshOilTrader Predictindex
Technically, I see that USDCAD still in the triangle, so it could follow any direction. But in your last image I have not seen seriously grounding for UC grow. Look 2007-2008 of an example of such divergency. Anyway, we'll see soon.
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FreshOilTrader FreshOilTrader
sorry, opposite, I have not seen seriously grounding for UC falling.
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Predictindex FreshOilTrader
This is why I named this chart "404 NO DIRECTION FOUND (UC)"
If price stands above the orange area, then we will confirm UC is in uptrend. Otherwise it's only good for scalping.
Reply
FreshOilTrader Predictindex
Your last oil comment is good prediction (oil gap) and an excellent ground for USDCAD to drop to 1.28 area. And than awareness will comes to the market that nothing has really happen and we see long pinbar at both instruments. We'll see. Very much thank you for your job here. Excellent support for traders. Good luck you in everything.
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Predictindex FreshOilTrader
The orange line is Oil price
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