USDCAD - Parabolic bull / top hunting 2.0
Looked too much a few days ago (pls see link to previous post)... hmmm... how does it look like now? Parabolic supersonic. This pace is simply impossible to keep. Especially not given that Oil started some correction, and NOK, the other Oil related commodity ccy is trading well.
So I keep on doiing small (not leveraged) top hunting both in EURCAD and in USDCAD.
Weekly:
Amazing parabolic bullish move, but got way too far above Kijun Sen. It needs a pull back towards equilibrium. Heiken Ashi candle is still green, but remember, this is only the first day of the week! haDelta spiked to extremely high level, and crossing back below SMA3.
Daily:
Smaller Heiken Ashi candle inside the body of the previous one. Looking at haDelta we see it is very unlikely that this bull has more power to go from this high. haDelta crossing again below SMA with a negative divergence (lower high compared to 22/Jan high)
Watch further signals in coming days.
It should pull back to 1,2150-1,2200. It doesn't mean it will, but I go for it :-)
p.s.: you can check 4 Hrs time frame as well, supports are at 1,2580 (4H Kijun Sen) and 1,2430 (Senkou B + 100 WMA)
So I keep on doiing small (not leveraged) top hunting both in EURCAD and in USDCAD.
Weekly:
Amazing parabolic bullish move, but got way too far above Kijun Sen. It needs a pull back towards equilibrium. Heiken Ashi candle is still green, but remember, this is only the first day of the week! haDelta spiked to extremely high level, and crossing back below SMA3.
Daily:
Smaller Heiken Ashi candle inside the body of the previous one. Looking at haDelta we see it is very unlikely that this bull has more power to go from this high. haDelta crossing again below SMA with a negative divergence (lower high compared to 22/Jan high)
Watch further signals in coming days.
It should pull back to 1,2150-1,2200. It doesn't mean it will, but I go for it :-)
p.s.: you can check 4 Hrs time frame as well, supports are at 1,2580 (4H Kijun Sen) and 1,2430 (Senkou B + 100 WMA)
