USDCAD - BEARISH BUTTERFLY TO BE FULFILLED & BULLISH OIL GARTLEY
Im watching USDCAD, Oil and DXY closely....
In all 3 we have advanced patterns near completion..
In USDCAD we have this bearish butterfly completion at 1.335..I will short here, price action is showing this could happen very soon with 2 impulse rallies (see blue lines)...ABCD patterns
In oil we have a bullish Gartley completion at 41.30, currently oil is close to breaking down from support in the 45.00 area
In DXY we have a bearish Gartley at 96.80..I will short all USD positions here
I am expecting all 3 to align at the same time like stars in the sky...!!!
In all 3 we have advanced patterns near completion..
In USDCAD we have this bearish butterfly completion at 1.335..I will short here, price action is showing this could happen very soon with 2 impulse rallies (see blue lines)...ABCD patterns
In oil we have a bullish Gartley completion at 41.30, currently oil is close to breaking down from support in the 45.00 area
In DXY we have a bearish Gartley at 96.80..I will short all USD positions here
I am expecting all 3 to align at the same time like stars in the sky...!!!
Comment:
correction 1.355
Comment:
The oil inventory report was negative , the butterfly knew this somehow!, so Im expecting USDCAD should breakout...130.800 is the line in the sand if it can getting a closing 1hr candle above this then this will confirm the breakout....I would expect an ascending triangles formation..the problem with oil and USCAD breakouts is that they dont always offer a pullback opportunity for a long position..Ihave just gone short in oil on a pullback to 38.32 fib 44.80
The oil inventory report was negative , the butterfly knew this somehow!, so Im expecting USDCAD should breakout...130.800 is the line in the sand if it can getting a closing 1hr candle above this then this will confirm the breakout....I would expect an ascending triangles formation..the problem with oil and USCAD breakouts is that they dont always offer a pullback opportunity for a long position..Ihave just gone short in oil on a pullback to 38.32 fib 44.80
Comment:
I shorted oil a little early. and SL hit.....just done again on formation of top..and trendline resitance..
Comment:
Oil trade closed ....chart pattern now favours oil bull and USD CAD bear