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USDCAD: Downtrend continuationUSDCAD has confirmed a daily time at mode downtrend aiming for 1.30 as maximum target. I'm short from last night, using a discretionary entry ahead of confirmation in the daily, but I'll be adding as we progress towards the target and continue to be in the money with our position. Good luck if going short with me, remember to keep a wide stop loss, either ATR based, or using the mode. I'll be trailing stops and adding to the position as the trend evolves, it could result in a very large move to the downside based on my observations. Cheers, Ivan Labrie. Time at Mode FX
Short
by IvanLabrie
12
EURCAD: Potential long term shortEURCAD is displaying a potential topping pattern at the top of the recent range, right against a long term mode, the price zone with the most activity in the chart since 1994. The previous reaction to such a strong historical resistance level was seen in the chart I posted before, where I reccomended buying against support for a potentially very large move to the upside (which resulted in a home run trade, with enough returns for a year). This is a terrific opportunity to get short the Euro, and long the Canadian, something which I think is perfectly aligned with the current fundamental landscape. I'll enter with 3 positions, and attempt to ride the downtrend all the way down, booking partial profits on short term selling opportunities, while keeping the core position running, and I'd reccomend you do the same. I favor an ATR based stop loss, against key levels. If interested in getting specific management cues and further add on opportunities, were this trend to reverse as depicted on my quarterly chart, contact me privately. See my profile for details. Cheers, Ivan Labrie.
Short
by IvanLabrie
15
AUDCAD: Potentially very interesting setupIn the current enviroment, it's nice to add a 'long Canada/short Asia' trade, and this is what this setup is. Currently the trend is up in the weekly but there seems to be a chance for a sharp decline in the daily chart. Risk to reward makes for a great trade if it works, so it's worth it to risk at least 1/2 position on it. Props to @Synapse here for mentioning this pair to me today, I've been waiting to long Canada again, and this seems like a good vehicle for such trade. Good luck if taking it! Cheers, Ivan Labrie.
Short
by IvanLabrie
13
EURCAD: Take heed of this critical levelEURCAD is about to test the highest volume price since the Euro's inception, the 52 week MA and also the point of balance downtrend target, obtained using time at mode as a secondary target other than the range one depicted by the red box on chart. It's likely to see a reaction to this level during this crucial week, so, do pay attention to it. I will update this chart with a potential entry, in case this level holds, since I expect the oil weakness to endure, naturally giving us an interesting and very aggressive long trade here. For now, I remain neutral but do pay attention, this might be a very significant reaction once we reach the critical support below. Check out Tim West's "Key Hidden Levels Chatroom for more insights on the stocks , bonds, metals, currencies and Bitcoin markets. I'm currently managing a private trading room for Forex , CFDs and Bitcoin futures traders. Contact me for more details on how to join either of the two. Skype: ivanlabrie QQ: 2954487803 Regards, Ivan Labrie Time at Mode FX
by IvanLabrie
2
GBPCAD: Ichimoku and time at modeGBPCAD looks to be headed south, with a potential weekly time at mode downtrend in the making. The price action supports this thesis, and we apply the ichimoku cloud indicator, the chart comes alive. Ichimoku paints a very bearish picture, confirming my bearish bias. There is clear rejection after crossing the cloud down and retesting it. After this, price shoots down, expanding range and triggering a daily time at mode downtrend. As a bonus, the last two daily bars close below the Kijun sen, after a bearish tenkan/kijun sen cross occurred. I have already entered, using a discretionary approach, but will add once I get confirmation that the time at mode weekly trend is valid. The target is 1.90509, to be reached by or before January 8th, 2016. For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups contact me via pm. I'm currently hosting a skype group for Forex traders, where I share trade setups and also provide traders with training, 2 private webinars per week. I'm also giving tutoring via skype calls, on a one on one basis for a different rate. Good luck if taking this trade with me. Cheers, Ivan Labrie Time at Mode FX
Short
by IvanLabrie
7
USDCAD: Breakout comingSimple analysis on chart, see my EURUSD chart for more information on today's webinar. Place pending orders: Long trade: -Buy stop at 1.32134 -Stop loss at 1.31681 -Target #1: 1.33996 Short trade: -Sell stop: 1.31228 -Stop loss: 1.31681 -Target: 1.25383 For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups contact me via pm. I'm currently hosting a skype group, where I share trade setups and also provide traders with training, as well as 2 private webinars per week, and also giving tutoring via skype calls, on a one on one basis. Cheers, Ivan Labrie Time at Mode FX
by IvanLabrie
6
USDCAD: Short in preparation for today's newsAnalysis is simple, we have a bearish trend continuation trade, or at the very least a pullback in an uptrend. USDCAD has encountered massive overhead resistance and might give a great short here. I'll be hosting a webinar today, explaining how to enter this trade, and how to manage the position once in. The stop loss can be at a few different places, we can use the one on chart, or a wider one using ATR or the structure above. If the short fails, we can reenter, as long as the main analysis is correct. It often happens and it makes us miss huge moves, being taken out by a spike. We have to not fear, and trust our analysis, and reshort when that's the case. If you want live updates and more information, make sure to contact me via pm or skype. I provide signals for auto trading and via email. I'm also providing access to a live trading chatroom where we give education to traders, as well as discussing the positions we're in. All of these are free of charge for concordbay.com customers. Cheers, Ivan Labrie Time at Mode FX Analyst at Concord Bay dot com
Short
by IvanLabrie
14
USDCAD: Interesting patternsAdding a 22 period CCI to the chart and a 11 period moving average of highs and lows we can see how oversold USDCAD is. Right now, the next hurdle is the level at 1.30113, which if breached might lead to a repeat of the pattern we have to the left, where CCI also dipped into new momentum lows compared to the past month. I added a replica of the previous decline to illustrate the similarities. This time the global picture is different and we might see an even sharper selloff but only if Crude oil reverses more meaningfully than the last time. If we don't get a move past 1.30113 very soon, I'd be tempted to look for longs, but not yet. Verdict: Neutral, too late to short, too dangerous to go long. Regards, Ivan Labrie. Time at Mode FX
by IvanLabrie
3
CADJPY Bearish Probability | H&S PatternTechnical Analysis: A small Head and Shoulders Pattern is evident on the chart. A break of 91.600 exposes the first target at 90.700. 93.00 has of late proved to be quite the Resistance Level as the pair failed to achieve a daily close above this handle with two notable failed attempts on the 9th and 12th of October daily candles. It is important to note that this area of price rejection (~93.30) also happens to accommodate the 61.8 % Fibonacci Retracement Level (light blue on chart) drawn from the 97.00 high and 87.40 low. In addition, 92.60 flaunts the 38.2% Fibonacci Retracement Level drawn from the 97.00 high and 87.40 low. This level of Fibonacci confluence , that occurs in an area of structural resistance that has been relatively well-respected, increases the probabilities of a move lower, given the right conditions . With no higher highs in place the pair is still in a downtrend, albeit ranging as it is sandwiched between the 93.00 Resistance and 91.600 Support as indicated in the chart. Therefore a break, close and price action/fundamental follow-through below 91.600 is what I'm timing and watching for. Stops at 92.00. If the Weekly Candle closes as a bearish one, a noteworthy Evening Star will be in place. This is usually a Bearish Indicator. Fundamental Analysis: OIL Prices heavily influence the Canadian Dollar . The guys over at CFDTrading tackle the recent devaluation here . It's a short YouTube video. Therefore recent OIL prices devaluation, Canada's seemingly recessive economy and risk aversion vibes (stronger JPY) are all factors that may contribute to a weaker CAD. As much as Canadian economic data has been improving, there are still inconsistencies with the pattern. Some have been misses and some have been 'good'. Key Risks: The Bank of Japan is relatively more dovish than the Bank of Canada, this difference could work in favor of the CAD. A rebound in OIL prices and/or Canadian Economic Data will see a correlative rise in the CAD.
Short
by SimplePhi
EURCAD: Picture perfect long setupI don't need to say anything, this is an absolutely gorgeous setup. Entering long at market during Sunday open with a wide enough stop below the 16 bar mode should work really well. I'll look into scaling in every chance I get from the 4h chart here. Initial target is the triangle's top by June 22nd, potentially extending to meet the balance point, which matches a retest of the weekly downtrend mode. What else can you ask for? Cheers, Ivan.
Long
by IvanLabrie
33
USDCAD: Correction over, buy before NFP.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 a minor retracement, if any, or market buy now and scale in on a retracement. Stop loss should be below the blue line, with some wiggle room based on ATR. Good luck! Ivan.
Long
by IvanLabrie
21
USDCAD: Looking to short before the BoC news come outPrice 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 profile shows it's slightly past the balance point, matching the weekly mode resistance area nicely. There is a daily uptrend in place, so tread carefully. Good luck! Ivan.
by IvanLabrie
15
GBPCAD: Perfect long?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 retracement of the previous rally, which looks like the retracement you'd get after an impulsive rally culminating in an extended fifth wave. The fundamental landscape, paired with the multiple correlated markets influencing this currency pair make me rate this trade as too good to ignore. Good luck! Ivan.
Long
by IvanLabrie
9
GBPCAD: Trend reversal?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 price action that supports my thesis. I think this is a very good trade, potentially worth risking 1% (my full position allocation). Entry will be divided in two with a partial TP to make the rest of the trade risk free. Good luck, Ivan.
Short
by IvanLabrie
17
USDCAD: Very significant top reached!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 in (which I'm not). Props to @sokow, @jangseohee, @AndyM, @NCoulb1 and @GcNaif, we've been analyzing this pair extensively together as of late. Check out their charts. Good luck, Ivan.
DShort
by IvanLabrie
5