A great opportunity in USDCAD for position in the weekly chart with excellent risk-return.
The price follow the trend for more than 15 months and now again we are testing channel support. Since December, the price has dropped sharply following the cloud trend to channel support. It has been traded in less than 1.31 in confluence with Fibonacci retracement...
I'm waiting for bullish breakout in two days (08/31) by the pattern strategy,
And if the same bullish rally come up the variation will be probably 100% at least, this is (1164)
In another hand, if 556 is breaking the support line, this strategy become invalidated
My guesses about BITSTAMP:BTCUSD.
If it follow the trend, it'll go to target 1 and our 5th wave begins the bullish formation.
I think its hard to reach the target 2, but if it happens this strategy must be reviewed.
There is a opportunity of entrance at the 38%, estimating 5% of profit if it move in this trend.
Some information from the inditators and ocilators indicate green box the best area to buy.
New strategy must be formulated if the black/red trend is broken.
FX_IDC:USDBRL There are some evidences about bullish move in BRL. 3th wave is in formation. Stay tunned for any different movement.
If it break down the blue line, a new strategy must be formulated.
Currently the market are overbought and probably will down until the weekend, however I am optimist about the earning incoming and probably it will go up, I expect reach with positive earning about $105 or more.
My suggestion is sell today (at good point) and buy at day 25 according the market.
Let's await for next week.