Talking Point: Technical Strategy: Confirming it's bearish outlook Elliottwave View: Reversal confirmed and counting impulsive waves Analysis AUDCAD was trading sideway from Aug-2013. We were seen May-2015 a declined again but unable to takeout Aug-2013 low in impulse manner. We were experienced a bounce from 9170 area in May-2015. However, upside was...
Talking Point: Technical Strategy: Confirming it's bearish outlook Elliottwave View : Confirming completion of wave (C) of c Analysis AUDCAD was trading sideway from Aug-2013. We were seen May-2015 a declined again but unable to takeout Aug-2013 low in impulse manner. We were experienced a bounce from 9170 area in May-2015. However, upside was corrective...
USDCAD has an interesting short setup here, after retesting a heavy resistance zone, apparently completing a terminal pattern, completing a correction before more downside. We can short on weakness, and short rallies to the 1.35 zone. Price shouldn't go above 1.35565 here, so place a stop there, rather simple. Good luck, Ivan Labrie.
Talking Point: Technical Strategy : Turning Bearish Elliottwave View: Expecting completion of wave (C) of c. Analysis AUDCAD was trading sideway from Aug-2013. We were seen May-2015 a declined again but unable to takeout Aug-2013 low in impulse manner. We experienced a bounce from 9170 area in May-2015. However, upside was corrective and can be counted as...
We have a giant base in EURCAD, after testing a long term speed line support. It's clear we can expect higher prices, specially if we break the last session high. You can go long on dips to 1.48131, or on a new daily high. Stops for all positions should be at 1.47326. Target 1.51543, although we might see a reaction at 1.50786, so keep an eye on it, and the...
We can enter longs in this pair here. Risk is a drop to 0.94199, but the target is 0.99359 at least. Good luck! Ivan Labrie.
The time at mode trend signal in USDCAD has exhausted the forecasted upside, so it's likely to return back to the uptrend mode as the arrow shows. We can short under yesterday's low today, before the close. If not filled, we can short under today's low, with a stop at today's high after today's daily close. Risk 0.5-1% on the trade. Good luck! Ivan Labrie.
XA Is the initial Breakout Impuls of the multimonth Flag Pattern. ABCD We are seeing another Breakout Flag pattern above the larger one. ABCD also can be seen as a textbook Gartley pattern. Natural target would be around 1.50 level. My entries are: Buy 1.4485 Stop 1.4380 Target 1.4990 To be honest, i am liking this setup very much, and i also think the...
We reentered USDCAD longs today. I expect a strong rally to emerge from here, today's strong close after a shakeout (post Yellen's mumbo jumbo) gave way to a solid advance that broke the Brexit key level resistance. If we observe that next week's trading stays above the blue rectangle (the weekly uptrend mode), we will get confirmation of a rally towards 1.372, to...
We can take this long here, risking a drop under 0.97612. Target is not set in stone, but watch how it evolves. We're testing a critical support level, but also facing considerable resistance, so we might have to be patient. I still think the trend will continue to be up, so, not a huge concern to hold this. Good luck! Ivan Labrie. PS: I had a moderator comment...
Keep away from sidewalks under windows. MACD: RSI: Will the monster eat you too?
• The CAD weakened against USD as oil prices moved lower and risk appetite waned. Losses for the loonie came one day after it strengthened to a five-week high at 1.2655 as expectations dwindled that the US Federal Reserve will move to hike interest rates again soon. • Oil prices fell, snapping a three-day rally after notching another 2016 high, as a stronger...
In this chart I illustrate how drastic the outperformance of oil is against cad. Whenever this happens, we have a trade opportunity at hand. See related ideas for a chart by Tim West on this same subject. We can anticipate inverse oil's performance to improve relative to USDCAD, and thus, expect either USDCAD to stall or retrace, or, USOIL to fall rapidly and...
In my previous publication I shared my long entry in USDCAD. I was long from a couple days before but using a wider stop, until I noticed price action in the hourly chart suggested the bottom was 100% in. Then I added to it with tighter stops. I hope many caught that trade with us! In the chart you can see my previous usdcad publications, which show I've been 80%...
We're in this long with my group already, as you can see in the private idea on chart. We have moved the stop loss up to the location on chart, and now we're presented with an opportunity to long if we break above yesterday's high. The target on chart is a time at mode uptrend target, we can expect to rally rapidly towards it once the pair breaks up since EURUSD...
You heard it here first...go long at market, keep stops under the low, or give it some extra breathing room if you wish (like adding 1 atr below it). Oil has topped, and now it's the turn for USDCAD to move up again after hitting a weekly mode of the previous uptrend. Correction's over. If interested in my trading signals, or in personal tuition, contact me...
We can look to capture some upside in this pair. Currently lagging GBPUSD, and offering indications of a potential bottom. We have landed on the recent monthly uptrend's mode, currently finding support and evidence of the bulls getting involved here. A resumption of said uptrend seems likely. If you're not long, you can enter at market with stops under 1.8257...