As Canada continues to show strength, I'll be looking for a buying opportunity in the zones identified on the chart above. As of now, I have no reason to put any orders in, but I'll be keeping a close eye on the markets as the "real" trading week begins today.
New wise it'll be an interesting week for this pair as we have a handful of FED members speaking along with a FOMC Meeting minutes release as well this Tuesday. On Tuesday the Bank of Canada will also have a Rate Statement released prior to the FOMC.
I know this seems like a broad idea as of now but this is how I start my week, by constructing broad analysis and biases on the higher time frames, then drilling down to the lower ones during the week in order to find opportunities.
I appreciate all of the support hear on Trading view. Passing the 1 million views mark was pretty cool and I love that you guys have kept it positive and made this a place that I actually enjoy sharing to when I have the time.
Akil Stokes
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FOMC, BOC & Oil news events mentioned above are on Wednesday not Tuesday. (I never really know what day it is)
Based of your chart above, what are your thought about moving the Fibo 100% forward (i.e., 1.32223 @ 2017-04-13)? You can see the price bouncing on the 50% 3 days in a row, with an uptrend confirmation candle on the 4th day. I just thought that the starting trend on the Fibo was too far back. I would appreciate your comments.
Akil_Stokes
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@DesertRider, Thanks, I have a Fibonacci retracement drawn from that level as well on my real chart, looks like I just left it off of this one. So yes, I certainly agree with drawing one from that level since that is our most recent swing
wstipp18
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Can you share your trading results for this year so far?
Akil_Stokes
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@wstipp18, Sure, just check out the youtube video I uploaded a few weeks ago