CAD/JPY has been in a dominant bearish trend since December 2014 as the breakdown in the Canadian Dollar, largely influenced by the crash of oil prices, has crippled the currency. January 2015 resulted in an absolutely massive bearish engulfing bar on CAD/JPY, February offered us a nice bullish pullback, and now we have the continuation pattern in play. We have...
The price is now having a strong bullish movement. The red circle is an important point due to the fact that it faces both short term trend line and fibo level. If we have a breakout, then my first target is at 1.2557 and the second is 1.2600, where the price faces another important level.
A lot of news coming out this week for both CAD and AUD but on the technical side of things what I see is a bullish flag pattern forming within the C to D leg of a potential bearish bat pattern. I don't trade flags the same way i trade advanced patterns but I do like when they come back into previous structure as in this case so it's something I will certainly be...
*Here's The Link To The Video Explanation of This Trade www.youtube.com Rather than write out a lengthy explanation for this trade, I decided to include a video break down in my Weekend Review video which will be out on YouTube tonight. The video typically takes a good amount of time to produce and upload so I decided to share this chart before it's completion....
price is pulling back into nice structure level which would be a good opportunity to get long. Buyers are clearly defending this level as they dont want price to drop into the area where Canada cut interest rates. I.ll be watching for a buy signal at this level eg bullish hammer or engulfling pattern. My long term target is still at 1.30 but i.ll be targeting...
LINK TO VIDEO RECORDING: www.youtube.com We discussed this in my Live Trading room this morning and I'm a little late getting it out to you because I wanted to pair a video with it. But what we're looking at is a Bullish bat pattern completion on the USDCAD 4hr Chart. At that completion level we also have minor structure, Fibonacci ratio confluence, and multiple...
Our previous attempt to go long did not have follow through hence essentially a scratch trade. However is worth looking at again, hence - below is the updated details from the previous chart. In my view most YEN pairs have completed the bullish cycle from moving of the 2011 low. Hence many have formed a top or are in process of doing so. CAD has been on...
This pair has move on ABC zigzag from 2009 low to 2013 high in clearly defined channel. The zigzag appear to be completed and have now started the retracement of the entire move (see weekly chart) In doing so first and second part of the zigzag to the down side are also complete and could be in very early stage of wave C to the downside that should develop in 5...
I can come up with a variety of instruments to trade based on the recent macroeconomic events, but right now I'd like to focus on these, since they give me a relatively close timeframe for the reversal date. Mark your calendars, between February the 5th and 9th, because I think these pairs will start moving strongly in the directions of these arrows. I'll post...
Oil price declines will help the japanese economy it is inevitable. JPN imports most of their oil approx 90 pct of oil is imported. JPN is an island. CAD is weakening. SHORT CADJPY when OIL falls or the other way around
The SNB, or the Swiss Negative Balance, event has left the ccy markets shaky und unstable. The NFA delayed decision to hike the margin requirements has probably stifled volume in the CHF markets, which is expressed in a lower price range. Notwithstanding that, CADCHF is in one of the strongest down trends of all the majors and is in the process of making a...
Entry = + CCI cross. SL= D point @ 93.93 TP1 = 100% fib @ 106.45
Friends, Model proposes a set of lofty and loftier targets provided that the following conditions are NOT met: 1 - Line A-e fails 2 - Line a-c-e validates Point-g to complete a large 7-legged expanding triangle 3 - Line a-g fails to express an #Elliott Wave Expanding Triangle through Points A, B and C. TRADE STRAT NOTE: One significant factor that might...
In my view most YEN pairs have completed the bullish cycle from moving of the 2011 low. Hence many have formed a top or are in process of doing so. CAD has been on weaker spectrum of major currency group and this is evident from CADJPY. Please see below a monthly chart for big picture view - in which you will note that it has topped at upper end of the potential...
Trading inside the pivot points' range, betting on a retracement after Euro''s collapse following Draghi's QE announcement.
Bullish Cypher pattern at market. The D completion of the Bullish Cypher is also the potential C to D leg of another bearish one which at the moment would complete at the 98.64 level.
Hi guys, USD/CAD is the pair that is on my watching list for this week and is very interesting. The level that I am watching is 1.1917 which can a trend line from 07/2013. Also lets keep in mind that the H&S has already hit target and looks like we are in 5 waves up in this pair. Time for correction or reversal? I don't know, but thing is for sure, if he gets...
USD/CAD had touched the H&S target (1.1639) which he formed between 2010 to 2012. Also in that area we have a channel line and 0.618% fib extension AND we can see very clear 5 waves move. Time for correction or reversal? I dont know. BUT we formed last week a evening star very beatiful but we need that confirmation which is a red candle this week at close. So lets...