Hey Traders, The Canada 60 has been range bound for a while moving sideways with no real intent either way. For this reason we can anticipate new short entries on a Tech basis. Watch for more.
this is my bullish trend continue idea. however wait for come key level after how to respect to key level after trend continue to up trend you can entry ,so this is my opinion only .
CAN 60 is eeking towards a high value area. If we get a rejection and lower timeframe continuation pattern, this will signal a valid trade.
Bearish structure LH, LL formation following On Daily chart, the price is taking rejection from 78.6 % FIB level, causing another LH. On Hourly chart, the price action continues. Taking rejection from Hourly R Support of Daily just below, from where it did react on Hourly as well. If this Support breaks, a Short entry will be taken for target of the previous LL.
MultiTimeFrame readings shows CANADA index potential DOWN for few days
Looking for trading range to 750.26 or maybe a drop to 698.58 major formation with double top 2008=2015
Last candle stick broke trending line Next possible stop 770.23 0r -3%
There's a strong test here for the rising trend. Weak data for mining, energy and the industrial sector. Worst quarter since the great depression and poor outlooks for the second one. Since a boost from the energy sector is unlikely untill 2016, low demand for oil will keep pushing down on the CAD/USD.
we are actually just under the rising wedge on weekly view. on daily view there is still some room for small rising
This is my pattern prediction in case we enter a recession and TSX 60 selloff begins.
Assuming the market doesn't completely come apart in the coming week(s), this may prove to be an interesting spot to get long. Going on the watch list....
Got a spike form the $CADUSD falling apart this week but I think it fails up here and rolls over given the slurry of negative data and the rate cut. It had a very weak close like the $ES_F that looks to be failling levels, hopefully on the back of $XLF this time as financials are also a big part of the $TXSX
If there wasn't a major ECB decision tomorrow I would be all over this. All the pieces are acting right: $CADUSD, $GC_F, $CL_F, a rate cut from the BOC basically stating that financial institutions are not going to make more money, manufacturing is dead, employment is on the downtick, wage growth is minimal...... the list goes on.....
The ~809 target was achieved and the short pulled. 822 acted as a great pivot and the TSX 60 has rallied to the trend lines clearly in place. In the last week the $GC_F and $SI_F have given the Canadian markets the juice they while $CL_F and $NG_F haven't been giving people reasons to sell. Today, the $CADUSD has been helping with inter-listed securities getting...
With the underlying economy not looking so great due to materials, mining, energy and a real estate market that is overheated, the TSX60 is more susceptible, in my opinion, than other markets to get sold off.