The following are trades setup ideas in 15 mins chart for Canadian Dollars Futures.
There are 2 distinctive dotted lines labelled as
1. AI's Daily Resistance
2. AI's Daily Support
These 2 Support and Resistance signal lines are generated by machine learning AI robots as a high probability trade setup for long or short.
If price action was above the AI's...
i will keep an eye on the canadian futures market (daily chart) for not only supply and demand but also a head and shoulders pattern might be forming. i will check back on the Canadian dollar at the end of the week.
thoughts and analysis welcomed.
cheers-Austin
Trading Signal
Short Position (EP) : 0.76315
Stop Loss (SL) : 0.7649
Take Profit (TP) : 0.75965
Description
D6H2019 formed Turtle Soup Sell at 1d time frame. Trade setup with Sell Stop at 0.382 Level (0.76315) and place stop after 0.618 level (0.7649). Once the position was hit, place take profit before an agreement (0.75965)
Money Management
Money in...
Trading Signal
Long Position (EP) : 0.756
Stop Loss (SL) : 0.7535
Take Profit (TP) : 0.7652
Description
D6H2019 formed Double Repo Failure Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (0.756) and place stop after 0.618 level (0.7535). Once the position was hit, place take profit before an agreement (0.7652)
Money Management
Money in...
Trading Signal
Short Position (EP) : 0.75995
Stop Loss (SL) : 0.7632
Take Profit (TP) : 0.75345
Description
D6H2019 formed Turtle Soup Sell at 1d time frame. Trade setup with Sell Stop at 0.382 Level (0.75995) and place stop after 0.618 level (0.7632). Once the position was hit, place take profit before an agreement (0.75345)
Money Management
Money in...
Bank of Canada holds off interest rate hike. Possible bear Gartley as S2 holds and becomes resistance at .76050. Possible drop to pivot at .74285. May continue to Double bottom S1 at .73200. Oil prices finding resistance at 52.500, may begin to drop again.
incredible rally on oil this morning, CAD has not budged at all, good chance it may follow up on oil. Will be monitoring the euro (for USD strength) to make sure it doesn't make new lows
Looks like an incomplete correction. Price could be doing an EW 3 wave retracement with the channel as the second wave. If price takes out the topside of the channel the idea is wrong. The risk is therefore limited. Crude oil being up today will not help this cause.
It's on the 5th wave but it could definitely go farther because it has a POC as a target and a 1.618 extension as a target.
Will really be watching to see what it does if it hits the POC. Expecting sharp down move from there.
Two volume profiles agree on the value area low region which also maps to a fib pullback area.
Looking for double bottom type price action in the green box zone for a long.
Trading Signal
Short Position (EP) : 0.7549
Stop Loss (SL) : 0.75685
Take Profit (TP) : 0.74975, 0.74245
Description
D6H2019 formed Double Repo Sell at 1d time frame. Trade setup with Sell Limit at 0.382 Level (0.7549) and place stop after 0.618 level (0.75685). Once the position was hit, place take profit before an agreement (0.74975) and 0.74245
Money...
Planning to trade the range shown by red and green rectangles.
Will not blindly fade the range but only with shorter time frame signal as confirms.
Large attractor POC above should be respected, it could definitely pull price up there.
Also the huge low volume pocket below should be respected and could send price shooting below if n support is found when price...
6C recently completed a 5 wave impulse down then sharply retraced almost back to the large POC.
Expecting it to build a base for a while before making another large move like it did at the end of the 5th wave.
The fact that it's right next to the point of control makes that a likely next target, and if it gets sucked into the value area convincingly then it...
