After strong gains by the CAD and news of the USMCA the CAD is setting up for a bearish Gartley. RSI is nearing top levels. New pivots have been created. CAD having trouble staying above R2 at .78255. Estimate fall back to pivot and bottom channel.
Buy D61! @ .78185 RSI14 crossed above 60 level. Drive by resolution of trade issues between USA and Canada.
Sell Canadian Dollar D61! @ .76465 Downtrend resumption
The Canadian Dollar is trapped in a downtrend and is building out the last shoulder of an H&S. A break through R1 and out of the downtrend would negate the head and shoulders. R1 at .77195 is significant resistance for upward movement. Waiting for confirmation of H&S when the market reverses down toward pivot at .76560 and continues through. Since the right...
Trading Signal Long Position (EP) : 0.7632 Stop Loss (SL) : 0.76095 Take Profit (TP) : 0.7703, 0 Description D6 formed Double Repo Failure Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (0.7632) and place stop after 0.618 level (0.76095). Once the position was hit, place take profit before an agreement (0.7703) and 0 Money Management ...
Trading Signal Long Position (EP) : 0.76325 Stop Loss (SL) : 0.76095 Take Profit (TP) : 0.7722, Description D6U formed Double Repo Failure Buy at 1d time frame. Trade setup with Buy Stop at 0.382 Level (0.76325) and place stop after 0.618 level (0.76095). Once the position was hit, place take profit before an agreement (0.7722) and Money Management ...
CAD is a trapped in a three drives downward channel. RSI is really close so either we will get a breach of the channel above pivot, or another lower run below pivot to S1 at .75111
Trading Signal Short Position (EP) : 0.76095 Stop Loss (SL) : 0.7632 Take Profit (TP) : 0.75455, 0.74815 Description D6 formed Double Repo Failure Sell at 1d time frame. Trade setup with Sell Limit at 0.382 Level (0.76095) and place stop after 0.618 level (0.7632). Once the position was hit, place take profit before an agreement (0.75455) and 0.74815 Money...
Trading Signal Short Position (EP) : 0.76105 Stop Loss (SL) : 0.76325 Take Profit (TP) : 0.75455, 0.74815 Description E6 formed Double Repo Failure Sell at 1d time frame. Trade setup with Sell Limit at 0.382 Level (0.76105) and place stop after 0.618 level (0.76325). Once the position was hit, place take profit before an agreement (0.75455) and 0.74815 ...
I have a conditional order placed - if a new high is made before then I will wait for the next set-up.
September Canadian dollar tracks sideways and lower. As Crude goes, so goes the CAD. If production is increased overseas, this market will continue to trend lower. Bear target right now is S2 .76480, followed by S3 at .75755. RSI triangle will need to be breached for any significant downward action. 20 day MA becomes resistance for any upward movement. This is...
June Canadian dollar is having a tough time rising significantly. Oil prices are in overbought secenario, but is still bullish. The USD is hitting higher points. A bull flag may be appearing on the CAD, or an Head and shoulders. Down day Friday and has sunk below the 20 day MA. Pivot at .78410 is becoming resistance. If the CAD can stay above pivot, there should...
June CAD building out a Bear Cypher. Target R3 at .79370. CAD over the 20 day MA and has some RSI to use to get it there.
The Canadian Dollar that always amazing in both direction :))), I think it's time for Loonie to Launcing the rocket to the moon
Considering this potential 3 Drives Pattern, the Canadian dollar, which has been falling since September mightbe poised for a recovery. I've closed out all my USDCAD LONGS in profit and will be monitoring price action for the Looney against the basket of other currencies for potential LONG setups.
The best entry point to Buy Futures CME / 6C 03-18 / D6H2018 (CAD/USD) Chart 4 hours Buy by Market = 0.77340 Stop Loss = 0.76885 ======================================= For those who have last worked Stop Loss, You can go back to the position! Buy by Market Futures on Canada (6C 03-18)