Our Free Channel members also taking advantage of this free setup, If you find this double top formation with Daily Trendline bounce Useful then let us know in the comment section.
The price action was moving within a symmetrical triangle and after hitting the support it made double bottom at the support of triangle.
In the meanwhile the price line had also completed the formation of gartley and entered in potential reversal zone moreover the volume profile is also showing a very low interest of people to trade below that area.
The double...
Oil prices bumping up, recent geopolitical crisis
Look at CXY (Canadian dollar index) prices seem to be off major demand zone
Looking to revisit broken upward sloping trend line
Short from 1.34 potentially
Wait for price action to confirm
Looking at the charts, we are below the 200 EMA.
The nearest supply zone is 1.3130, while the trend line is at 1.3183, which is close to the supply zones.
I am seeing price refuse to close below the rising trend line which signals a long position targeting previous highs.
You can set your SL below 1.3080, targetting 1.3402 ( Previous highs)
This will give 1:2.5...
After careful review of the USDCAD currency pair, I have been fortunate enough to create a perspective for the entire week ahead. I see the USD first recovering against the Canadian dollar with the oil price playing a major role in this move, followed by a midweek reversal which is likely to come in play on Wednesday or Thursday, with the release of key economic...
After careful review of the USDCAD currency pair, I have been fortunate enough to create a perspective for the entire week ahead. I see the USD first recovering against the Canadian dollar with the oil p [rice playing a major role in this move, followed by a midweek reversal which is likely to come in play on Wednesday or Thursday, with the release of key ...
Here I have identified a very prosperous and rewarding long opportunity on the USDCAD pair by simply using the Fibonacci tool from the weekly swings down to the daily. Take a look at my analysis and comment what you think..
USDCAD POTENTIAL SHORT OPPORTUNITY
This setup is going to be similar to the GBPCAD setup that was posted this week as well. If you look at this pair you can see that recently the market had a very dominant seller move to the downside. The biggest tell if the selloff is legit or not is going to be the RE-TEST. The re-test is a huge tell sign of whether or not...
(GBP/CAD) formed Flat Top 4hr, momentum stochastic is overbought, momentum squeeze hope to form red bar, vwap still not in overbought zones.
watch out for day range etc.
We had a shooting star followed by bearish 3 crows (ranks 7th among bearish reversal patterns) on MONTHLY USDCAD chart. Price already did the pullback into monthly 3 crows pattern and now we should be rolling down...And on daily we just got very fine bearish Counter Atack, Evening Star and double top. Price might pull back half way into the evening star before...
I am placing a buy here with the bulls on USDCAD because here after careful review, trend analysis and pattern recognition on the 1hr time frame for entry I have identified an opportunity to buy for the USDCAD pair with confluences to match. I see 1.30150 as a daily target SUPPORT AREA 8/2/2018. Take a look at my analysis I would love your feedback. My trades a...
We are at the start of a bullish uptrend on weekly after a fine bullish engulfing pattern off Fibonacci support level. Bullish engulfing was also on monthly chart. Look for long entries on smaller timeframes. Price already tested back the middle of monthly engulfing candle. The bottom tails of engulfing patterns act as major supports. First major resistance...
I believe that we will see some lower prices in the pair in the upcoming days. As I am writing this, we are at the opening of the canadian market and we just had a huge bearish engulfing pattern on a lower time frame after a very painful run up after last week's fall. I'm taking a light position short and will add as we break new supports.
Fundamentals:
- NAFTA Negotiations uncertain, any signal at termination would cause loonie to sell-off
- JPY tight inverse correlation to global stock market, therefore a sell-off in markets would benefit this positioning
Technicals:
- Clean break of uptrend
- 100 Day MA crossover
- Ichimoku transition line crossing baseline
The GBP/CAD pair was last reviewed at the start of December, when it rebounded against the lower trend line of a long term support line. It has to be noted that this trend line is a rather unusual one, but has proven itself throughout the second half of 2017.
That resulted in a rebound and an eventual breaking of the at the time active channel down pattern,...
