Hello Traders! Today FX:USDCAD is on my radar. Here is a very nice shorting opportunity. At last the price has broken a big triangle, found support @1.3175 and forming a flag pattern, and this means that market is going to fall even more. We have 2 opportunity to go short: 1. Sell around the PRZ, 2. Wait for the market to break the flag and support, retest it...
On FX:USDCAD , the price is in consolidation zone last few weeks. This gives us an opportunity for a nice set-up. Potential Gartley pattern appears in this sideways markets, which guides to manage this trade's SL, TP, and Entry point. Price respects the support level at 1.3179 and it is more likely that the price would not break that level. Thus, it is wise to...
On FX:USDCAD , there is a great opportunity for harmonic traders. Risk reward is great, structure great. Price found a support level at 1.3227, and it is more likely that it will act as support again and bounce the price. There is a potential Bat pattern, which adds probability of this set up. Harmonic pattern gives us set-up to manage SL, TP, and Entry. T1 -...
Longing audcad from this resistance to the last top. Pinbars/dojis confirm our entry. The blue dotted trendline also speaks in favour of a long on this pair for a 1:2 risk:reward. Hold your thumbs!
long CADJPY at major support level
The only tools we are going to use are resistance and support Lines, trendlines, EMA 10 and EMA 20. The strategy step by step is the following: 1) In the 4hour chart we draw the support and resistance Lines of major levels. We also get an idea of the intraday trend. 2)Then, we are going lower to 1 hour chart. We try now to draw channels or trendlines. Again we...
Hi everyone we have a short pattern (B leg could be left or right but the pattern is valid for me), so it is a short trade for me. The targets are highlighted on the chart. Lets see and Good Luck :)
I apologize for the disorganized appearance of this chart. The Red lines indicate times when the price reacted to the Fib Speed Resistance Arc. This blue line Represents a mirrored version of price action from mid 2004 to mid 2010. Due to its reactions to the fib levels in the recent past and the 10 year resistance level it is likely that GBPCAD does not have the...
Talk about rejection! Today we saw some crazy dollar strength. As of 3pm, the dollar had made a 100% retracement or 214 bps round-trip from this morning's ECI drop. The market gave a clear signal that it believes - or rather, more likely, wants , a Fed rate hike. That's all that matters, folks. Oil is heading lower. What's more, the technicals strongly support...
A few weeks ago I made a very controversial call on the USDCAD looking to go long despite a major level of resistance and an advance pattern on the higher timeframe. (You can see the video explanation of that trade here www.youtube.com) Well after finally being taken out for the remaining part of my position Canada has come back to a level that looks prime for...
On a larger time frame the USDCAD is a Long Trade. This is because of divergent monetary expectations with regard to the BoC and the Fed with the latter having recently cut rates for the CAD and a rate hike being priced in for the USD. This is a technical short off the 1.300 Handle that confluences with the 261.8 Fib extension of the Bearish corrective wave from...
VERY BIG DAY for me today (here's the video link www.youtube.com) and before I call it a night I wanted to share with you one more trade that I recently got involved in. Now I apologize for the short explanation but I'm a little tired after just recording video number 2 tonight, but here's a trade I just sent over to my Syndicate members looking at a bullish trade...
UPDATE: Target 1 Hit. Profits Booked on First Position. UPDATE 2: Target 2 Hit. Profits Booked on Second Position. 2 CADJPY Short Positions Triggered with a dip down below the 200 SMA on H1 TF. Fundamentals Recent OIL Prices Devaluation, Canada's Seemingly Recessive Economy and Risk Aversion Vibes are all factors that may contribute to a weaker CAD. ...
Throughout this entire year, USDCAD has been rallying which can confirmed on the larger timeframes such as monthly, weekly and daily. I'm basing this trade based off of that momentum and on a simple trend-contination setup. As you can see, price has been consolidating this past week and along with all the momentum n volume today coming because of greece, Im...
The daily chart shows recent higher highs and higher lows, how ever the new higher high failed to reach January and March peaks thus creating a bearish engulfing formation. However we do need confirmation of a reversal in order for our short bias to come in play. If we zoom into the lower time frame (1HR) we can see a wedge/pennant forming. Price has currently...
Here my idea of the double bottom.. this double bottom is on the previous support structure of the last weeks. i think this is a good oppertunity for some small pips. stoploss is 10 pips under the support structure. let me know what i can do better and what you think of this trade ^^. good luck.
USDCAD VIDEO (www.youtube.com) Obviously I'll be playing the sidelines today due to the Non-Farm release, but for you longer term traders, we've broken past our B leg which means it's time to pay attention to the bearish Gartley. This particular pattern comes in at a very nice level of structure (looking left) where price consolidated in the past before a...
Fundamentally , OIL Prices have been dropping, coupled with recent poor data, suggesting that CAD may slip into recession. The number of Long OIL Futures has also been reducing from the Commercials each week (citation needed). No explicit data releases for CAD or CHF today. Technically , the H4 has mixed Tweezer Tops and an appealing Bearish Engulfing Bozu off...