PAIRS CHARTS - FOUR TIME FRAMES WORTHY TO CONSIDER
Notice this long term correlation between the CADUSD and USOIL.
First - look at the MONTHLY chart over 10 years and look for times when they are noticeably out of relationship.
Second - look at the WEEKLY chart over 5 years.
Third - look at the DAILY bars over 1 year and see how tightly structured these to markets are lately.
Fourth - look at the 4-HOUR bars over 1 month to again firmly establish a tight working relationship.
If you can find a time when these are out of position with each other, then I believe a trade is setting up.
For the moment, however, I do NOT see a trade.
Sincerely,
Tim
8:47AM EST Monday, March 28, 2016 .7564 last CADUSD
First - look at the MONTHLY chart over 10 years and look for times when they are noticeably out of relationship.
Second - look at the WEEKLY chart over 5 years.
Third - look at the DAILY bars over 1 year and see how tightly structured these to markets are lately.
Fourth - look at the 4-HOUR bars over 1 month to again firmly establish a tight working relationship.
If you can find a time when these are out of position with each other, then I believe a trade is setting up.
For the moment, however, I do NOT see a trade.
Sincerely,
Tim
8:47AM EST Monday, March 28, 2016 .7564 last CADUSD
Note
CADUSD broke out to a new high while USOIL keeps heading south. Once a previous day's low broke in CADUSD the market has backed down. There is more downside, about 2% for CADUSD to the 0.75 level to match where USOIL is now.
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at TradingView.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.