*Position Update: As of 05/19/2015 @ 7:33 EST The Global Currency Scalper closed out both sides of this correlation trade with 112.2 Pips. The Trade: Long CAD/JPY & Short GBP/JPY The correlation between these two pairs is 77% over the past year. The widest the spread has got over that time is about 800 Pips. Currently these two pairs are 600 Pips apart. The...
This is just an update on our GBPCAD Gartley pattern which is forming and was posted a week ago. So far this pair is acting just as it should be, moving on a slow and steady rise to point C. If the pattern plays out the way we expect then point D will be our long entry price. Let's see what happens during the week of May 10th. By the way our Gartley pattern on...
Waiting for the pair to cross 1.2163 after it failed to break April 29th low.
The trade: Long USD/CAD & Short USD/JPY. A nice correlation trade is setting up between USD/CAD & USD/JPY. The spread in the correlation is currently 600 Pips, over the past year the max spread has been approximately 1,200 Pips. We will be taking 1/4 our intended position size, if the spread continues to widen we will slowly add to our position. There is a...
*Position Update: On 05/05/2015 we liquidated both sides of this correlation trade with a profit of 73.1 Pips while taking advantage of the correlation spread narrowing after the interest rate decision in Australia. A nice correlation trade is setting up between AUD/JPY & CAD/JPY. The spread in the correlation is currently 200 Pips, over the past year the max...
A really solid Gartley pattern is forming on GBP/CAD daily chart. If it continues to play out we will be looking at price hitting point D some time in July. With a couple of months before this price action playing out we have plenty of time to continue to evaluate this possible position. We will keep an eye on it for sure.
We will be taking USD/CAD Long and USD/JPY Short to take advantage of the recent spread in its correlation. The position will start out by initiating just 25% of our intended position. If the spread widens we will add to our position. Please see the chart for more information.
AS PRETTY MUCH EVERY SWISS PAIR LOOKS LIKE AFTER THE SNB BOMBSHELL IN JAN A STALLED RECOVERY. PRICE ACTION HAS REACHED RESISTANCE ONCE AGAIN. WILL IT HOLD? WATCH THIS AREA.
USD CAD back on its way down? We can see a clear fall below the upward rebound trend line meaning that the USDCAD could be back on course. Of course 1 hour chart isn't enough to give us an answer clearly, but the technical indicators all show a return back in to the channel.
USDCAD - is at 38.20% retracement, at 1.2271 price level. A break of this level, can take it till 61.80% around the 1.24, and then look for bearish signal... #usdcad #loonie
MacD falling below as well as CCI back in to the Channel. Sell signal as clear as you can get.
USDCAD 15m tf - possible bearish cypher
USDCAD Daily TF - A descending triangle
Since end of Jan 2015 USDCAD is in side way range between 1.28 and 1.235. We left the 1.23 area and I think it's time to long that pair. A possible flag formation is visible. my Entry 1.245 TP 1.283 SL 1.2339
ANOTHER TEXTBOOK SETUP ON USDCAD. PRICE HAS BEEN STUCK IN THIS RANGE SINCE THE END OF JANURARY. A FLAG PATTERN HAS BEEN FORMED AND THE LONGER THE MARKET IS STUCK IN A RANGE/CONSOLIDATES THE BIGGER THE BREAK OUT. USDCAD HAS FAILED TO BREAK SUPPORT OF THE RANGE WHICH IS ALSO A MAJOR PHYSIOLOGICAL LEVEL (1.24000). THE MARKET IS CLEARLY CAPPED AT THIS LEVEL BECAUSE...
I'm overall bullish on the USDCAD (and have been since the end of 2012), but I see downside risk on this pair during the second quarter. 1.28 is a major resistance level that has held since January, and without a monthly break above this level in April, we might just see a correction lower in the coming months. I've noted a negative divergence in the weekly RSI...
From my previous Idea, I anticipated the move towards the level between 1.26675-1.26446. Well it turned out to be right. I am still gonna be a bear on this market. The news events will give a big impact by deceiving bulls. The bulls will be deceived by indicating a fakey breakout toward north. The big money will push the market upwards during the announcements...
USDCAD 1h TF - Possible bullish bat, if reach 1.25 price level