Will study this later in detail, but it seems like market is taking back the profits made by the early breakout. Good trades
as on chart. Going back to the lower channel trendline (seems like). However still strong it may turn back with vengeance into a 3rd wave up with a breakout in the UP direction. Personally will wait until the situation is cleared.
If the wave counts shown on the chart is correct, then one possible scenario is that the prices will linger around the red trend line in between 30 and 32 dollars range for a while before making a push (as 3rd wave) to the 37-38 dollar range. So there is still time for the move to occur. Good Trades
Our predicted Entry point is reached and prices bounced back at this point as predicted. For the ones who have missed a good Entry point I give another one, of course if price ever comes back to this point. Good Trades. Note: For Canadian (and also international) investors, HOU.TO is a double bull high profit ETF. At around 3 dollars a unit a very attractive one...
Not wise to long. Price can even go lower than our target, down to 1.33, if it turns out to be a 3rd wave. Previous support broken. Still short.
As on chart
Probable scenario. Wait for major 3rd wave down.
Still maintaining the target of 1.38 range. Long entry is too risky. Wait for a decisive down thrust to short the pair. Good Trades
Thrust breakout of important resistance Expanding bullish triangle -Completion of 5 wave sequence
Folks, you can short USDCAD upto that target shown on the chart. Select your entries wisely! (at retraction points supported by resistance etc.) Good trades.
Yesterday there was a mistake on my part. I falsely thought that the BoC announcement was later during the day rather than 10am and due to this mistake I have lost whatever I had made the day before. I never trade during Rate announcements, as I see it as a gamble. Yes, trading can be considered a gamble to a certain extend, but for me it is a calculated gamble....
Watch Channel Breakout validating possible Head and Shoulders. This could indicate beginning of a a bearish trend.
Quite strong reversal Thrust today. If the triangle (see chart) broken then it could be significant. Triangle point to a strong positive accumulation. Notes: Do not long EURO pairs at this moment (eurusd, eurcad etc). Hold on USD but decrease portfolio holdings to a balanced level, until foggy situation clears off..This is a short term warning. Good trades
I know it's not much but I followed a very conservative methodology, not using margin at all and always heavy on cash. Even though I have been trading for almost 20 years, this was the first year managing seriously a portfolio on daily basis and apply all what has been learned over the years. Our Success rate was between 60-70% and win vs loss ratio was about...
Updated EURUSD wave count. In the previous count (yellow wave) the 5th wave was awkward. This one fits the bill better. From the 3rd wave (yellow), I thought at the beginning to be the first wave of a bull trend. The way the market developed, this may not be true. Two reasons, 1-There are weakness detected. If we were at the 3rd way up, then there wouldn't be such...