A 13 week mode detach gives USDCAD a weekly uptrend target of 1.3805 within the next 13 weeks. Supporting this upside projection is RgMov, which is putting in new highs. Also, the outlook for Oil over the coming months is one of gloom. For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups...
Analysis on chart.. RgMov marching to new highs. For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups contact me via pm. I'm currently apart of a professional skype group that shares trade setups, hosts 2 private webinars per week, and also offers one-on-one tutoring via Skype calls. GL!
GBPCAD is looking bullish.. A detailed analysis has been labeled on the chart, with RgMov also signaling bullish strength. The fundamental factor driving this would be the major weekly sell-off in oil to a target of about half its current level. That oil sell-off is shared below by my friend Ivan Labrie, and linked below. For more information and insights into...
EURUSD has spent the last 10 months building a mode around the 1.12000 level. The last few weeks have been strong sell bars, with price lying nearly 450 pips below that mode level. Time At Mode says that if price spends all of November without rallying back to the 10 month mode, the downside projection is a target of .9600 before October of next year. Also...
After a great daily uptrend that last several weeks, NZDUSD has seen a selloff in response. The selloff initially built a 10 day mode that detached and with today's close has swiftly met the downside price projection. This swift sell-off would call for a quick rally back to the mode from which it detached, but price has cut through a high volume node (level with a...
Microsoft has expanded range from an 11 month mode and nearly reached the price projection target in a single bar. With a key pitchfork outer band immediately above acting as a ceiling, this is additional support for a weak monthly bar short back to the 11 month mode. Either wait for a weaker monthly bar to form and short the break of its low with a stop above its...
EURGBP is forming a rare terminal impulse at a high volume node. Zoom out to understand why the purple horizontal line is a key support area, as there is a lot of previous time spent at this price level. To support this long, RgMov (Tim West's proprietary trend indicator), has been putting in new highs as prices move lower. Also, observe the weakening power off...
Last week's close caused a 9 week downtrend to be active in EURAUD until proven otherwise. Supporting this detach was a nice daily range expansion from the developing 9 week mode, whose retrace offered a 6.5R short that was not taken. This downtrend has a target right at the retest of the huge monthly mode (a monthly uptrend is currently active), with RgMov...
Tomorrow the downtrend from the detach of the 20 bar daily mode that began developing after the August 24th high will expire without without reaching the price projection. While just a few days ago this looked like a probable short to reach the 20 day mode price projection, bad Australia data has revised that thesis. Yesterday's trading day resulted in a huge...
A bad string of Australian data has cause a mode detach and downward range expansion from the 13 bar mode that was building higher. Price has also sliced through a prior strong support level.. risk is small at .5%, GL!
USDCAD has had an impressive run up last week, but may be countered shortly with hard selling. Price is under 50 pips away from both huge daily mode resistance from the prior uptrend and a 4hr mode detach price projection. These two confluence levels, coupled with both overbought CCI and bearish/diverging RgMov (trend indicator), could warrant some key selling...
Price has detached from the 9 day mode, expanding range with an upside target of the prior earnings/mode level above (right below the red horizontal line). If price is able to expand higher and achieve that target within the next 8 days, it will make for a compelling highest low short. Three things that will make for a compelling daily short assuming the upside...
CADJPY is currently building value higher after expanding from a previous auction. Supporting this expansion include new 2 month highs in RgMov and RSI which has broken the traditional 50 line and now utilizing it as support. While the weekly outlook is neutral on a time at mode basis, a daily long of at least 300 pips may become active in the near term. ~Stay Tuned~
USDJPY has expanded through all key support levels, and stands to lose nearly a thousand pips over the next 2 months if unable to rally back to the labeled 8 week mode. RgMov is flashing very bearish, as all major lows in the last 4 months have been taken out. From a market profile standpoint, the market is incredibly thin below this level for the 900 forecasted...
Note: Setup has not materialized yet, and won't until a bar closes higher without touching the mode. After a solid rally, EURAUD has paused to build a mode sideways, currently at 16 bars (could still build many more bars at this mode). There are 3 reasons I think an eventual hourly long will materialize from this sideways consolidation. 1.) The fact that the...
Wait for this bar to close then follow long projection with stop placement and target as shown above. GL!