will looking buying Opportunity soon !
Is that a rhetorical question? ;) Even if price retraces to the downside in the near term, I am a Bull over the long-term plus it looks like a bullish Inverse H&S formation which are extremely powerful and reliable even before breaking the neckline as you can clearly see the increasing momentum. If you trade the Kiwi/CAD then for the long-term look for the exact...
Looking for USD/CAD to complete a 33%-50% Fibo retracement on the Weekly chart to create a new Fractal Swing High Structure point to continue back into the bearish downtrend. The strength is still with the Bears so once the pullback rally completes look for a good entry on the Daily or 4-Hour chart to go short. The trend channel will be gradually adjusted over...
Bearish Bat Formation and ascending Triangle With RSI Divergence
Very strong divergence between the market price and the RSI, which is approaching an oversold region. I would go long now or wait until the RSI actually goes into oversold territory. Just posting these RSI divergence trades as ideas, I don't usually trade them but it will be interesting to explore this as a potential addition to my strategy. See below for...
NZD/CAD is holding above strong trendline support at 0.8778, breaks below could see test of 0.8710. Weekly charts show that downtrend for the pair is intact and we see scope for tests of 85.85 in the medium-term. Technical indicators on daily charts are biased lower, Stochs and RSI convergence seen with price action. On the fundamental side, analysts feel oil...
Here we have two Harmonic Cypher patterns on display...lets see what the market gives us. Looking to sell this rally then buy it up at around 1.2975.
I can assume we are most likely to have opportunity to go short in this pair. after a high rise of this currency, we are back to the downtrend. I set my stop loss around 50 pips just above my fibb retracement take profit around 0.9840-20 Happy Trading
Price broke below the 50 week period moving average, signaling a change in trend. Trend line was broken with a high momentum Bearish candle. Price broke below 100 week period moving average, and retested this level as resistance. Currently consolidated in an area of support. If price can break below this level I will sell another position on this pair. After...
We've bought Swiss franc, Bearish bat - see the chart I posted last week below.
Bullish Bat Pattern seen on EUR/CAD daily charts. The pair has edged higher from 1.4389 levels which is pivotal, weakness seen only on breaks below 1.4380. Retracement upto 1.5330 (61.8% Fib of 1.59145 to 1.43889 fall) likely. Immediate support and resistance for the pair are located at 1.4697 (200-DMA) and 1.4734 (5-DMA). Recommendation: Buy dips around...
After failing to create higher highs and heading pass the 76.40% region on the daily timeframe, my play on USDCAD is to continue to short it. Personally I'm going to wait till the pair heads up to 1.32733 before shorting it again (i like to play conservatively).
-AUDCAD seems to have broken out of its bearish trend due to interruption of setting lower lows . -Watch out for the bounce off of the 0.618 fib level for a good entry Suggested entry 0.99500
$NZDCAD created a bullish Wolfe Wave in the 4hr time frame. The structure completed at 5' so we are looking at the Off-Set rule at point 4 as a target. Happy Trading.
Here is a great setup for AUDCAD, I am waiting for a break of the 2-4 line to enter a long position. A less probably scenario is highlighted in grey.
Since the start of the new year USDCAD has sold off of the highs to spark a pretty intense downward move, especially on lower time frames. Many of you have probably followed this price action down as it has been dropping, and hopefully picking up some handsome profits. However we must not forget the long-term bullishness of this pair. For three years, since the...
Bearish bat completed with a pullback, We now have a potential Bearish butterfly and higher high Bearish crab forming.