Simple trade setting up after a week's advance. Entry under the weekly low and at 95.051. Shout out to jangseohee and justatrader, who are already on this trade. Good luck to us all!
It seems that USDCAD has hit rock bottom, reaching a strong support level showing buyers have emerged at this level. The fundamental landscape has been very negative for the US dollar but I think this time the unexpected will happen and we will see a rally. Buying after this bar closes, as long as above the blue line is a good idea, but we can also attempt to buy...
Similarly to USDCHF, this pair is correcting after a strong move up. Watching price action for a long entry. Tomorrow we have a considerable amount of news that will probably help fuel the next big move in this pair. Will update with the setup. Good luck, Ivan. Update: Waiting for the correction to end here, news should take care of it. Once we have 99%...
I think we're seeing the beginning of a strong uptrend, this just being the first leg up. Now, after a week heading straight up, I expect to see a retracement from this weekly fibonacci resistance, which lines up with a low volume resistance area in the 4h chart, as well as a highest low trendline resistance. I got out of my longs and looking to rejoin the move...
Price has skyrocketed in the short term, but it's now up against a weekly downtrend mode resistance. The daily uptrend signal target has been exceeded ahead of time and it would seem like the right time to turn into a contrarian. Waiting for bearish signals to confirm this speculative bias. Rgmov is warning us already, showing no new highs diverging vs price. The...
Setup on chart, there's a weekly background going but we might see a swift retrace on BOC news today. I expect an explosion after the NY opening bell. Good luck! Ivan.
Thanks to 'The working trader' for bringing this up. This is my own take on this pair. The chart shows the time at mode bullish setup I'm looking at for entry. I suggest buying the dip if possible. I'm seeing potential for a very large move to the upside, favored by an uptrending rgmov, completion of the downtrend signals in the recent decline reaching a 0.786...
Monitoring GBPCAD, looks interesting. Analysis on chart. Cheers, Ivan.
I think this is the case here. We have reached the profile point of balance projection from the low to the longterm mode of this uptrend. As expected, price sharply reversed in one day, consuming almost 3 days worth of progress. I'm waiting for the daily close to enter short, will update the chart once I'm ready, also adding 4h charts to better illustrate the...
Analysis on chart. There is slight probability that this is the top for this pair, and a strong decline might start from here. I'll be looking to enter short on a retracement if possible, or after a consolidation forms. The invalidation level will be a new high, naturally. Will update with my entry, for now, it's impossible to enter safely, unless you're already...
On a larger time frame the USDCAD is a Long Trade. This is because of divergent monetary expectations with regard to the BoC and the Fed with the latter having recently cut rates for the CAD and a rate hike being priced in for the USD. This is a technical short off the 1.300 Handle that confluences with the 261.8 Fib extension of the Bearish corrective wave from...
Analysis on chart, the pair shows a strong downtrend and rgmov prints lower lows while price doesn't. This is bearish. Also, price is forming modes lower, validating the downtrend. Split the entry in 3 parts risking 1/3 of your desired exposure to this trade on each. TP when target is hit, but you can cover 50-75% once the distance to the stop is reached to make...
Analysis on chart. We've reached the time at mode uptrend targets, but there's still time left in the 16 bar uptrend. The news events this week are potentially devastating for the USD longs, so I'll be looking to go short asap depending on the price action around said events. I'll update once I pull the trigger. Good luck, Ivan.
Watching this pair closely since I spotted what looks like a very significant top area, both in time and price. It's possible that GBPCAD will form an ending diagonal triangle and give us a great short opportunity in the coming weeks. The daily and weekly uptrend signals point to a top between the 9th and the 24th of July. It's also interesting to note that...
This pair is flashing an inminent buy signal. If you look closely, the 1h chart shows an incipient uptrend, moving in impulsive fashion, and 4h and daily show price found support at a previous range expansion zone. I'll be looking to go long on a retracement to 100.035 with a stop under the recent low, target is the weekly uptrend's target. Good luck, Ivan.
I'm looking to fade this leg, watching the daily uptrend signal expiration. The area above is very, very interesting, keep a close watch. Tomorrow's price action might reverse the FOMC extravaganza, albeit temporarily. We'll know soon enough. I'll update with my entry and stop loss reccomendation when I see a good entry short. Don't forget there's a weekly...
Well, it seems like GBPAUD decided to stop everyone and their mother out. In the chart I plotted a big monthly wedge/triangle every technical trader out there sees, which shows a clear fake breakout above, just an interesting thing to keep in mind, while the latest daily uptrend signal target got reached on the second day, way ahead of time. This fact makes me...
Analysis on chart. We can try a tighter stop loss under the low using 1 atr as buffer too. Good luck, Ivan.