the main downtrend line on CAD/JPY was broken strongly and the price managed to make a higher high and a higher lo if we focus on the new trendline we will see that the price is in the new wave of making higher low we can for the price action around the trendline and also we can use the fib tool to enter a buy trade
I will reenter this short again, with OPEC Cutting oil production by 1 million barrels/day CAD is set up for massive strength as oil will shoot. This is a great place to short. Use proper money management. Any manipulation to the upside will not exceed level 1.40000. All the best fellow traders.
ANALYST: AMUN SULED ➖ COMPANY: OCSI CAPITAL MANAGEMENT ➖ IMPORTANT INFORMATION:📌 - ORDER FLOW : * LSB: breaker retest * PROJECTED TP : * PROJECTED SL: Hi master traders! welcome to another trade idea with Genius Chart. If you like what you see and it helps you ,please support our work by writing a comment and SMASHING that like button! 👍🏾 its us against the...
the pair is trading in a clear channel range as you can see the upper trendline was the end of big wave 4. if the counting is correct we will be expecting a wave 5 to finish this Cycle near 1/15-1.1600 area. our stop loss will be above the previous top. the risk to reward ratio is awesome for this trade however it might be a medium-long term investment. good luck!!!
ANALYST: AMUN SULED ➖ COMPANY: OCSI CAPITAL MANAGEMENT ➖ IMPORTANT INFORMATION:📌 - ORDER FLOW : * LSB: breaker retest * PROJECTED TP : * PROJECTED SL: Hi master traders! welcome to another trade idea with Genius Chart. If you like what you see and it helps you ,please support our work by writing a comment and SMASHING that like button! 👍🏾 its us against the...
Waiting to Back Price to Demand Zone (1.24494-1.12650) this Zone 87 Pip My Target Supply Zone (1.26964-1.27678) and this Zone its Weakly because the price touched Many times So i think will breakthrough this Area and i think go to Next Hard Supply Zone (1.27842 - 1.28451) Summary : Entry between (1.24494-1.12650) Stop lose : 1.23450 Tp1 : 1.26964 (250...
We look at why Oil prices are supporting the Commodity-linked Canadian Dollar & Norwegian Krone. I analyse how markets use Manufacturing PMI data In the U.S to know when to buy and sell Oil based on demand expectations driven from Global growth. We can take the following trades BUY CAD/JPY BUY NOK/JPY SELL USD/NOK SELL USD/CAD
I took this short because at the time I thought that it was a valid trade. I followed my process, I followed my plan... however during the middle of the trade I realized that the 15m structure over the last 24 hours was creating HH's and HL's. This does not meet my setup criteria. It took this trade for me to realize that I need to add this concept to my filtering...
Trading Opportunity :- Sell USD/CAD Risk Reward Ratio :- 2.25:1 Fundamental Analysis:- The Canadian dollar is a commodity linked currency with the commodity being Oil you can see from the recent news why I am interested in this currency pair. With the price of Oil being supported by tensions in Iran it is only natural to see the Canadian dollar strengthen which...
buy @ 76.117
We have a bearish cypher and a gartley pattern forming here. Sell cypher @1.01145 and sell gartley at 1.0081. The cypher pattern has very strong resistance above X for stops (see higher time frame) which make it a great opportunity to sell. Furthermore, this gartley pattern has a great Risk/Reward ratio as D completes way up near X so stops will not be too far...
BOC rate decision expected to remain on hold with positive comments. RBA have left the door open for further rate cuts, weaker oil price this morning and possible weak chinesse trade balance at 8am should weigh on the AUD
Fundamentals: - A very similar situation to the Aussie in the fact that the Canadian economy is actually performing quite well and with the recovering Oil price further downside could be expected. The USD has again become a safe haven currency in this situation but with a rate hike now doubtful from the FED we should see a return to the downside on this currency...
Fundamentals:- We are expecting weaker data coming out from USA in terms of CPI, PPI and retail sales this week and on the Canadian side we are expecting to see an increase in inflation. We do need Oil to find support in order for this trade to work and will watch the correlation throughout the trade. Technicals:- We are experiencing a pull back from the...