I've had a short bias on this pair for 2 weeks now, with a few successful smaller TF trades (and 1 losing trades).
As you can see, on the Monthly TF we're also showing signs of bearish pressure.
- Hanging Man formation complete
- Dragonfly Doji almost complete with 3 days trading left this month)
- Key support turn resistance
- Bullish channel...
ULTA is in an obvious up trend on the weekly chart. Sort of sideways on the daily chart with an RSI making lower lows and lower highs.
But if you put a lot of stock in candle formations then you might be willing to risk some money to the downside. Bearish formation in Friday's candle on the daily (engulfing candle) within a one on the weekly (upside down hang...
Being in a daily uptrend, USD/CAD has strongly rejected a previous support level (1.0860), and the 0.5 and 0.618 Fibonacci level in its pullback and closing on Friday 29th August 2014 above the 50ema as both an outside bar and a low test giving well-founded signs of imminent bullish continuation.
A drawback to this trade would be that the weekly chart is still in...