forexcanada

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About me Independent trader beating Wallstreet at its own game.
Joined Canada ForexCanada
Markets Allocation
83 % forex 12 % commodities 2 % cryptocurrency 2 % other
Top Mentioned Symbols
EURUSD 17% | 7 USDCAD 14% | 6 EURCAD 9% | 4 USDJPY 9% | 4
forexcanada forexcanada CL1!, D,
CL1!: Oil close to 2009 low
113 0 2
CL1!, D
Oil close to 2009 low

Price action likes to tango with M.A.2009

forexcanada forexcanada CL1!, D,
CL1!: WTI
253 3 1
CL1!, D
WTI

Clearly in a downtrend. I am not trading this thing as it can either way. Will wait...

forexcanada forexcanada GBPUSD, D,
GBPUSD: Chart of a Hoarding trader :0)
261 7 3
GBPUSD, D
Chart of a Hoarding trader :0)

Keep your chart simple. Period. Most indicators or oscillators are somewhat similar to each other. Find one that suit you, study it and learn everything about it like if you were the one that created it. Trading view is amazing site for traders to talk or share ideas, but some of us are hoarding their screen like the way you fill your house with junk. I do ...

forexcanada forexcanada USDNOK, D, Long ,
USDNOK: Vikings about to attack!
128 1 4
USDNOK, D Long
Vikings about to attack!

Read the chart. It's all there Cheers Twitter @forexcanada

forexcanada forexcanada USDJPY, D,
USDJPY: $USDJPY
220 0 1
USDJPY, D
$USDJPY

My take on the $USDJPY. Simple and easy. Let's keep it that way. Gaven @forexcanada

forexcanada forexcanada BTCUSD, 15,
BTCUSD: Insanity
361 1 1
BTCUSD, 15
Insanity

A picture is worth a thousand words... @forexcanada

forexcanada forexcanada AUDNZD, 240, Long ,
AUDNZD: We break it or we dump it
152 0 0
AUDNZD, 240 Long
We break it or we dump it

Simple AUDNZD is in my opinion highly oversold. Unfortunately, the Aussie action has been spiraling Southbound for several months now. I am looking at 1.2300 for first target if we break the triangle upward and pass the 1.2150 mark. Otherwise I am out of that trade. Too many if though... Cheers Gaven Twitter: @forexcanada

forexcanada forexcanada EURUSD, D,
EURUSD: A little higher PLEASE!
239 1 1
EURUSD, D
A little higher PLEASE!

Daily is overbought but shorting at this level is not offering a good reward. So that being said I am looking for an exhaustion move toward 1.3300 -1.3340 for a short Gaven @forexcanada

forexcanada forexcanada EURUSD, D, Short ,
EURUSD: Southbound
251 0 0
EURUSD, D Short
Southbound

Not the prettiest head and shoulder but so far price pattern fulfilled all conditions of a H&S. As far as I am concern the neckline was tested and now heading towards in my opinion to the 61.8% retracement at 1.2654. Cheers! Gaven Twiter: @forexcanada

forexcanada forexcanada AUDCAD, D, Short ,
AUDCAD: Broadening pattern
189 0 1
AUDCAD, D Short
Broadening pattern

I am short for now, but it is usually bullish. Although it is not the chart pattern with the most success rate. Ranking 19 out of 23 according to Thomas Bulkowski encyclopedia. I am convince that we are heading to another test of the bottom channel. Half position now with another half position closer to 1.0580 if we get there and targeting ...

forexcanada forexcanada KC1!, D, Long ,
KC1!: Would you like a cup of Coffee?
193 0 0
KC1!, D Long
Would you like a cup of Coffee?

Reason I went long today is purely because of level. Clearly the trend is down but we are at the 61.8% fib level and funny enough the same level was tested several times which gives us a good support. So, even though the trend is down because of level I am punting long with a target #1 of 148.00 Stop 139.50 and below that we might see 132.21 Ciao Twitter:@forexcanada

forexcanada forexcanada AUDUSD, D, Short ,
AUDUSD: Down under
170 0 0
AUDUSD, D Short
Down under

Heading down Period! The EURAUD is probably the pair I prefer to play against the Aussie but this one has good reward.

forexcanada forexcanada GBPJPY, 240, Short ,
GBPJPY: Carney's Head and shoulders!!!!
279 0 0
GBPJPY, 240 Short
Carney's Head and shoulders!!!!

Sign of an Head and Shoulders is definitely on the radar right now. We just broke the neckline and in technical term I am short. I am very careful though with Japan election next month and QE infinity over there makes me nervous, but tight stop is in order. From here expect support on 23.6% Fib at 130.78, but my target is the 38.2% Fib at 129.80. We break ...

forexcanada forexcanada EURUSD, D, Short ,
EURUSD: Technical Setup is still valid
331 0 0
EURUSD, D Short
Technical Setup is still valid

I published this chart a few weeks ago and now price action is hovering around the daily chart trendline. I still believe this technical setup is still valid. We definitely need a daily close above 1.3015 area to invalidate this scenario. I totally ignore any deal between Greece and the E.U. For what I understand from the EU conference earlier this afternoon, ...

forexcanada forexcanada USDCAD, D,
USDCAD: Indecision
178 0 0
USDCAD, D
Indecision

I would like to believe that USDCAD is heading lower. The problem is price action is sitting on a short term trendline(green line) and also right smack in the middle of the longer term downtrend(blue line). I am bearish on this pair but wouldn't mind a pullback to add on my short or a restest of 0.9750 in the coming weeks. The next strong resistance is around ...

forexcanada forexcanada AUDCAD, D, Short ,
AUDCAD: audcad
231 0 0
AUDCAD, D Short
audcad

The weakness in AUDUSD today is dragging all Aussie cross pair with her. A pretty nasty engulfing candlestick formed on the daily today with the close and shorting is starting to make sense. Gaven @forexcanada

forexcanada forexcanada SU, D, Short ,
SU: @suncorenergy
147 0 0
SU, D Short
@suncorenergy

Suncor is company that I like. Good balance sheet with boring dividend though, but the potential for that stock could be tremendous if the oil pipe goes ahead.

forexcanada forexcanada AUDUSD, D, Short ,
AUDUSD: AUDUSD
182 0 0
AUDUSD, D Short
AUDUSD

This bearish pattern (64% of the time according to encyclopedia of chart patterns) is still intact. Price action nicely bounce off that upper descending trendline. Normally I wouldn't short here but wait for a breakout at 1.01640. Impatient that I am I did short anyway but with a tight stop above Wednesday wick. To me that candlestick is a nice inverted hammer ...

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