5-0 pattern discovered by Scott Carney and published in his book “Harmonic Trading, Volume Two”
It is a unique model that has precise corrections of the Vibonachi ratio to check the health of the model.
Although the 5-0 pattern is a reflective pattern, because the 50% recovery level is the most important in the possible reflection area, and the correction ratio is...
With four naked points of control below - which is very unusual it's safe to say the CAD has some backtracking to do.
Most likely they will be taken out all very quickly.
News bomb like a high CPI number might do the trick to send the DXY higher and the CAD lower.
Personally I am short in the futures marketing targeting the last VPOC.
Cad USD is reaching an important area in where price could stop the bearish price action and reverse. It is important to watch carefully the area in order to determine if there is a valid bullish opportunity. Target one is the previous high, target two is the marked area.
for EURCAD WE ARE Expecting CAD weakness & EUR strength In fact, we posted this pattern in 14 nov but private , as you can see it RUNNING we as i expected
so buy EURCAD any time it goes down
You can see the CAD has been in accumulation mode.
This may not be over - however as we are at the top of the triangle I put on a short this morning while the CAD was up, the EURO down and the DXY up.
Targets below as well as various VPOCs.
Canadian Dollar Futures Monthly Chart Bullish Bias
10/18/21
Looking at Current Market Price Action, on the Monthly Time Frame We can see that the Canadian Dollar Futures is painting a bullish recovery over the past 2 months
Finding support at the 0.77500 level we can see that the price action of August and September rejected that level very quickly, also we have...
This is a pretty obvious chart of whats going on with CAD - you can see its sitting at 50% retracement with trendline resistance overhead.
This is now cyclical matter - DXY continues to make higher highs - and inversely CAD, Cable, and AUD are lower highs. This also means lower oil and Gold of course.
Based this chart this is a good point to short anyone of...
I only publish this because its interesting.
They dragged the CAD up to the VPOC highlighted went to sell it and there no buyers sending the CAD down half a cent in 5 Minutes - you don't see that everyday.
The top is the six average price and the bottom is the three day average price.
Wish I had taken that short. You would have gotten paid instantly - in...
#CADUSD #Futures #6CM2021 #1HR
- Here is CADUSD futures 1hr chart. Currently, yellow upward trendline is supporting and a short-term bottom has been formed at 0.82370. I am more bearish when this bottom fails supporting.
- When that happens before 5/20 19:00, I am looking at 0.82200~0.82280 as a short-term support. If you wish to enter long here, make sure to...
Max profit: $70
Probability of Profit: 83%
Profit Target relative to my Buying Power: 20%
Max loss with my risk management: ~$150
Req. Buy Power: $430 (max loss without management at expiry, no way to let this happen!)
Tasty IVR: 28 (average at futures)
Expiry: 36 days
Sell 1 !6CM1 Jun4' 0.8 Put
Buy 1 !6CM1 Jun4' 0.785 Put
Credit Call spread for 0.70cr...
After a downtrend we have a trading ring situation so we will have two possibilities:
• A strong breakout with a green candle with a high volume then a very strong buy signal.
• A breakout with a red candle then a very strong sell signal.
Personally, I recommend the first hypothesis.
I got long here. if price beaks the low it will be a change in behavior thats been going for a few months. a 20 pip stop on a 240 chart is cheap risk and gets me below the recent low and below the major down CME_MINI:MCDM2021 swing. if price fails and cracks the major swing , we could double that move to the downside. if it hold here, I see a try for new highs.
