The trendline on the 6D CAD futures chart suggests the Canadian Dollar is due a correction in its recent rally. My personal favourites being the USD/CAD, CAD/JPY and GBPCAD
Any thoughts and/or ideas are appreciated
I am looking for a buy in the PRZ shown based on the bullish Butterfly pattern as well as 50% retracement level.
From an Elliot Wave perspective, if the move up from the recent bottom was all a first wave then this is the minimum retracement I would expect for the second wave. In this case we are getting ready for Wave 3 which would likely be pretty...
I know it is not advisable to try and pick a bottom..I have learned this lesson many times. However when I noticed today price had dipped below the .618...Daily RSI was in oversold territory... and it made a pinbar on the 5 minute chart with decent volume...I decided to take a shot. But I am going to try a different approach to catching a bottom this time.
My...
June Canadian Dollar created a bullish flag today as the USD create a bearish doji. RSI continues to climb. Watching for upsurge Monday to fill in BAT/Gartely pattern. Need confirmation. Upside target is the 50 day moving average at .75635, then downside trend at .75935
I am looking at a Bearish-Gartley in /6C Canadian Dollar futures. I am very new to this website, not sure why it is labeled as D61! but whatever. So X is Monday's high around .75150. A is Tuesday's low around .74630. B is a .618 retracement of XA. C is a .786 retracement of AB. D is the reversal and entry point. I entered the trade at .75065 the 1.272...
June Canadian Dollar rose today off a doji. Looking for another move up to hit downward trend. Next upside target .75425. Watching USD for turn and sink lower, and confirmation of CAD upward move.
We may finally see the USD head and shoulders drop. The USD has come to the neckline. A pull back in the USD has created buying opportunities for CAD, AUD, NZD and others. CAD fought back lower prices.
Gartley has been achieved if bulls can raise the USD, and the CAD will fall off the Gartley. If the USD drops we may achieve a Butterfly for the CAD.
Canadian dollar is building out another bullish flag and the USD continues forming a head and shoulders pattern. See more upside to the CAD. Possible top at .76790 from last week. 78.6% is just a hop, skip and jump from there to complete the Cypher pattern at .77080. If flag does not hold then further downside to .75625 area.
The USD continues to build its head and shoulders pattern. Canadian dollar is coming close to the 78.6% of the Bearish Cypher pattern. A little up and down may be in the offing.
