Will be looking to take a short position on CAD/JPY due to the following reasons: - 4th descending trendline touch - Bounce of 50 EMA - LH & LL have been made Trade safe
We have a bullish bat with D leg completion at 1.29070. Entry: 1.29080 Stop: 1.28640 Target 1: 1.29900 Target 2: 1.30460 If like advanced patterns and are thinking about incorporating them into your trading check out tradeempowered.com and Tom Hall 's page here on trading view. That is where I learned. Good trading, Luke
Basic Triangle Pattern Breakout Trying to touch 0.618 fib TG: 80.9 SL 79
Carefull with this one. Tide stop. It looks like pennant pattern on the way down. Question is break down or another rotation.
Tomorrow, members of OPEC will meet in Vienna, and it is unlikely there will be any policy shifts. Despite the dire straits some OPEC members are in, such as Venezuela, the current crude production policy will likely remain until Iran and Russia agree to some sort of production resolution. MacroView has been overly bearish since June 2014 but indicating that the...
The descending channel pattern on the daily chart of USD/CAD can be a good idea to trade a bullish breakout. The channel's borders are marked with the yellow lines. The potential entry level is shown with the cyan line. The potential take-profit level is marked with the green line. I will set my stop-loss to the low of the breakout bar (not shown on the chart)....
Nzd/Cad Is currently in a steady "Long-term Downtrend" with Intraday Traders taking Long positions from the end of April, this now gives us another chance to join the Downtrend. I would like to see some rejection and price action around 0.8900 which will signal a nice "Bearish" move
Monster short squeeze has sent USDCAD through resistance level of 1.2834. Now in the 1.28-1.34 range.
Hello Traders, A few days ago I posted a smaller time frame GBPCAD chart. That chart is the internal Wolfe in this one. With such great confluence this makes a swing to the upside a very probably move. You can refer to my previous chart in the related link below. Best, Chartistry
That's quite the engulfing candle following the Crude Inventories News. A turn back down here would be a total surprise. Look up for a while on this pair... I think,
Hello Traders, If you've followed my charts you know that I post most daily charts and four hour charts. This week I will look for set ups within the hourly time frame to better demonstrate the Wolfe Wave.
$NZDCAD created a bullish Wolfe Wave in the 4hr time frame. The structure completed at 5' so we are looking at the Off-Set rule at point 4 as a target. Happy Trading.
I would like to start off by saying that I removed the Primary MIDAS R1 Curve as it cluttered the chart and have already done its job in regards to the analysis above, however it successfully captured the initial pullback. On the chart above a T.D price flip have competed in oversold conditions at what looks like to be the end of wave 3, as there is a huge...
Hello Traders, CADJPY completed a Wolfe Wave at 5'(5 prime) and is now looking at the Geo Off-Set Rule at point 4. An entry at this level will be of moderate risk.
2 possible outcomes. If price breaks above resistance level, look for long opportunity. If price breaks below trendline, look for short opportunity.
The recent risk rally has encouraged commodity currencies higher. As crude ignores the globalized downturn in economic output and ongoing "pump at all costs" mantra of producers, the Canadian dollar has hit a three-month high against the dollar. Crude aside, traders have also factored in the fact that the potential for a rate cut from the Bank of Canada had...
The USD has been selling off quite a bit and at the make or break for a new trend. The DXY is in a free fall currently pointing to further downside. The CAD on the other side is still bullish at the moment, oil also held the key $28 level today, which is quite important. As far as the USDCAD technicals we are testing the key level of 1.40, where a trendline is...
Copper is in a very obvious wedge and a break would indicate a significant move into the 2.90 area. Copper has a strong correlation with $cad and $usoil as well so if we break the wedge we will be able to find long and medium term opportunities. I used the ghost bars just for fun and to possible show the projectory of copper.