the trend has been broken and so we waif for a move in the uk oil.. looks like a flag continuation.
with the entry at the 1.336 area this is in the profit, we will see three scenarios play out but the "short" scenario seems to be in favor to all price action iv seen, even tho this may go into deeper territory we should see the Cad gain some strength.
short therm out look on Brent crude, it has a support from past resistance but a up trend at this point the (end) is the 161% target as its lowest in the abcd swing was the 32.8 % mark at this point, if the trend is broken into deeper territory south then we will adjust the target fur the bulls.
When you look at Forex like this, you should really wonder of the banks can move the market and hold the market when they want to.. if you say yes you are on the right path to see the market for what it is, a banks business model, when we look this way then we know who has majority of the movement. You have to wonder, if the banks have so much say can they hold...
Accumulation: the act of buying/selling of a security without moving the market price significantly. After a decline, a security may start to base(consolidate) sideways for an extended period of time, while this sideways movement builds momentum (aka momo) to hit the next target. reference to stairs.
You will see that accumulation will often have "whip saw" this is normally due to the fact that the more orders the market can take into the direction of its choice, then the more the Big guys make money! remember this is the Big banks business.
gyazo.com The best way in my opinion to enter the market is by an limit or stop order, it means if you where right about your assessment. the best way to remeber the orders so you dont get mixed up is Buy/sell stop's don't stop Buy/sell limits will limit
If you see a pattern on a large time-frame, you can bet its going to follow on a smaller time-frame
a scalp strategy that works nicely. Please ask any questions you like.
please ask my questions notice the A-C on the price swing.
homework: Please go through the USDCAD back one month from today and look thought every candle to find these candle patterns.. you will notice there are failed patterns and formed patterns that is because the patterns will be tested.
notice that past resistance becomes future support. also note that when it hits the desired target it PULLS BACK. use this for your advantage to enter and exit at your will.
When you see a accum. you will always see a Break out. its important to nice what you can in this stage of the market to learn as much as you can as this is where most traders lose money.
Support is the target for Bears, they like to come in and smash though support then pull back, by the starts bears are more aggressive movers in the market. Bears love support and after they hit the support they pull back then go for the next one **note** remember past support becomes future resistance!** an important note is the support on the inner part...