Today is BoC interest rate decision
Volume spike
Daily rejection of channel
Daily RSI bearish divergence
Entry with HXD
TP: Want to see red weekly close if possible
Now this chart really got me curious.
Canada's major stock exchange is breaking out.
But the intriguing part is that crude oil tracks its momentum.
#tsx #crudeoil #inflation #gold #silver #uranium
The TSX index doesn't react exactly the same every year, however it's interesting to note how closely 2023 followed the 42 year historical trend. Seasonality helps you to figure out the market general direction instead of having to fight it.
Comment below if you have ideas to improve on the strategy!
Daily high volume at the top of the resistance line
Not high volume on break of resistance line
Trend still bounce between support and resistance lines
However oil is super strong which could be bullish for TSX
Fed decision this coming Wednesday
High risk: Short to support line
or wait to evaluate next week
HXD or HXU
Hello There!
Welcome to my new analysis about the TSX CANADIAN STOCK MARKET INDEX on the 2-day timeframe perspectives. When approaching this stock market index it is necessary to view the prevailing sector stocks market situations firstly, in the recent times a precarious devaluing in the Canadian Dollar CAD has taken place, this has shown up within the...
Hello Traders Investors And Community,
Welcome to this analysis where we are looking at TSX 4-hour timeframe perspective which is showing up some quite interesting signals at the moment. As the main market has recovered from the corona-breakdowns seen this year the meaningful question is now if these recoveries are fundamentally backed to follow-up into a...
This bearish potential wave count could foreshadow a retrace back to the pandemic lows. The rising wedge in 2020 is followed up with another rising wedge and symmetrical triangle. The pattern recognition and Elliot wave count are in alignment here.
After the recent low move ,TSX will continue move in the sideways .
The sideway move will continue for some time.
The next move will be decided based on the side moves .Looking at the Global moves after the side move market will go up.
More Ideas and Scripts :
www.tradingview.com
www.tradingview.com
The S&P/TSX Composite Index is the benchmark Canadian index, representing roughly 70% of the total market capitalization on the Toronto Stock Exchange with about 250 companies included in it. The Toronto Stock Exchange is made up of over 1,500 companies. It replaces the earlier TSE 300 index.
Canada housing set up for epic fail, Canada banks told to prepare for greater losses. US to put its economic foot on Canada's throat. There is so much air underneath the TSX...
TSX | USD
Expecting the TSX to show relative strength vs. other major indices due to the dovish BOC policies
and a declining inflationary environment.
Therefore, my bias is a short term correction into the FOMC meeting Dec 15th where the 19250 should hold as support into a reversal
targeting 20,500.
Very beautiful chart from Toronto Exchange Market these days. If you have TSX tickets it is now time to buy in and hold for the uptrend.
TSX broke out of the downtrend channel and I have no reason to believe it is a "fakeout". Good indicator support and good trend lines. I'm expecting a small amount of correction between 19400 and 19200 since the RSI index is...
Indicators showing strength of the range bottom, potential setup for a whipsaw beneath the range (likely due to fundamental news driven event) otherwise my bias is a bullish return to the median of the range.
Hello Traders,
TSX is setting up for another bull run. Looking at the HTF we can see price is moving within a strong reversal structure which price impulsively reversed up breaking out of the upper boundary. On the LTF, price is currently in a correction after breakout indicating further growth.
Thanks
Trade Safe
We are just about half way thru earnings season for the TSX, with the next BOC meeting in September 7th and another hike of minimum 50bps is already guaranteed I think it opens up a great period for the TSX to make a new low.
Earnings have been better than expected for a lot of the bigger companies in all sectors from industrials, utilities, staples and of course...
