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...
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.
A DAILY CLOSE ABOVE RANGE RESISTANCE INDICATES POTENTIAL FURTHER UPSIDE, A CLEAR BREAKOUT OF LONG TERM RANGE EXPOSES 1.2520's THE 150 DAY MA THAT WAS PREVIOUS RESISTANCE ON 4H CHART HAS BEEN BROKEN, A POTENTIAL MA CROSSOVER TO THE UPSIDE CANNOT BE RULED OUT EITHER - ADDING TO FURTHER CONFIRMATION OF UPSIDE POTENTIAL A RETEST OF PREVIOUS RESISTANCE TURNED SUPPORT...
Represented by the Green box, we can see a convergence of EMAs and MAs as i mentioned in the last post. EMA is crossing to the upside and StochRSI signal is also crossing to the upside, MACD still shows a bullish divergence if zoomed out, represented by the blue dotted line. My next target is the zone represented by the blue box as this is a major level if you...
Looking at the daily USD vs CAD chart we can see price has found some support at the psychological level at 1.20000. Price has honored that level twice and is currently moving higher to the fractal resistance level at 1.21744 which is also in align with the previous week high at 1.22047. Look for price to find resistance at these levels and possibly continue the...
This pair faced recently a big fall. The last days it seems to try to move up. However it is now "jumping" on the level of 1.2212. A bearish breakout of this level might lead the price to 1.2084. On the other hand, if it reaches the level of 1.2300, then bulls and bears would fight. Buyers target would be 1.2400.
PRICE ACTION BROKE THE SUPPORT OF THE RANGE AND COULD NOW BE HEADING FOR A RETEST OF THAT LEVEL TO FORM RESISTANCE FOR A POSSILE SHORTING OPPORTUNITY TOWARDS 1.1950 AREA, HOWEVER IT DOES GO AGAINST THE GENERAL BIAS OF A BULLISH DOLLAR, THAT SAID FURTHER BULLISH ACTION FOR WTI OIL COULD HELP THIS TRADE BECOME FEASIBLE
USDCAD trade is based on FIB levels and seasonality as we expect crude oil to get strong also in coming weeks and the data which is due this week (Manufacturing numbers and BOC monetary policy report). At www.TradeSetups.com we like to keep everything simple by providing members with easy to understand trade setups. Right now we are offering 10 day free trial for...
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.
*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...
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...
I am bearish on the US dollar, and I expect the loonie to gain ground. The BoC is not engaging in reckless monetary policy, even though, at times, traders found them absent. Canadian CPI is stronger - just above two percent YoY - than in the US, which should favor CAD. The Fed wants a weaker dollar. The Fed said it; Yellen said it. Don't fight the Fed, right? The...
1D Chart: Looking at EOX with a few tooly indicators we can see that we are sitting at a newly formed floor, we haven't seen this positioning since Feb 2013. Using the Fib retracement tool from the bottom of this past week we can see a nice movement bounce to around $7.2- this could be a really good spot to enter as the market will either bounce into a new support...
To start up there are 2 links to my previous USD/CAD ideas both still valid and both suggesting that 1.062 level from July might be an bottom for long time. Yesterday USD/CAD has fallen into 1,083 levels just above the green demand zone marked on my H4 chart, there's also 50% Fibo retracement of current Leg Up from 1,062 to 1,10 level present there just above...
Nothing too fancy today, just a nice and simple 2168 trade setup on the USDCAD. I'm still short this pair on a higher timeframe trade, but wanted to share this since the potential risk reward (depending on your rules of course) is exceptional.