TSX another low incoming BOC meeting sept 7th We are just about half way thru earnings season for the TSX, with the next BOC meeting in September 7th and another hike of minimum 50bps is already guaranteed I think it opens up a great period for the TSX to make a new low.
Earnings have been better than expected for a lot of the bigger companies in all sectors from industrials, utilities, staples and of course energy but I think that is mostly priced in by now and even though we had a nice rally here off the June low it was over due after all markets never go down in a straight line. I am looking at further weakness in the energy sector with WTI looking overdue for a move to 70's .
I am eyeing the monthly calls with a sept 16th expiry.
I am looking at shorting XIU for tsx 60 and XEG for the energy etf and also single names such has Telus / Bell / Canopy / Superior
Canadian
easy money dollaramaThe Canadian dollar has started to increase and it seemed it has a long way to go. Dollarama is one of the vital veins of the Canadian economy and the minor recovery in the economy would change this stock to a skyrocket!
% 4-5 is the easiest target for now, but in my humble opinion, $100 is not so far from today.
How am I going to trade USDCAD pair?There are several main DXY setups now. I believe in DXY drop in this year , so I confidence this pair is going to drop too. However, the reality could be fully opposite. It is high uncertainty now . So, take this under considiration trading this or fully opposite setups. Good trades to you and all the best from my side.
✅GBP_CAD LOCAL LONG🚀
✅GBP_CAD broke out of the narrowing wedge
Which made me bullish on the pair
And the price is now retesting the broken
Resistance line which became a support
So I think that we will see a rebound
And a retest of the breakout high above
LONG🚀
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usdcad canadian dollar start of the big bull phase possible The Canadian dollar is in the consolidation phase its very possible point of reversal as this zone is already be tested and respected many times. I am expecting the start of a new big side trend as you see divergence on the MACD indicator as well its sign of losing strength.
Break of bearish channel on the EURCAD.There seems to be indications that the EUR is ready to make an upside move against the Canadian dollar . The signs that would indicate this is a break of the bearish channel that had been created on the daily time frame, and signs of accumulation at the level indicated on the chart.
Easy 10% early next week on HBIT - "RRSP Bitcoin"This ETF is not really Bitcoin, it's a derivative. For a short term trade, make your gains here with and buy real Bitcoin on a real cold wallet.
With now HBUT at sub $10 is a buy. You can't tell from the charts, there's no volume on HBIT/BITI because traders need volume. There's none on that junk so its just for snipers at this point (people with Level 2 and able to pick off the arbitrage with real Bitcoin patterns, like 1 hr oversold on real BTC and snooze on fake ETF.
Anyway, I'm long HBIT, (& off BITI) before the weekend or sell everything if you think cash-is-trash is better.
This is the sub $60K stop loss attack before the run to six figures on Bitcoin. Enjoy the ride people.
Bitcoin is the true market. The rest is an illusion that is getting slowly corrected with math.
CAD/JPY Signal - JPY Leading Economic Index - 7 Sep 2021CADJPY has broken the support trendline prior to the JPY Leading economic index data, which is an economic indicator that consists of 12 indexes such as account inventory ratios, machinery orders, stock prices and other leading economic indicators. Technically the pair has broken the support trendline near the resistance trendline, and the RSI is pointing to downside.
PLUG at critical level - time to break through
PLUG has been in an aggressive downward move this year.
The chart shows two failed attempts to get through the $29.60 resistance level. It is now attempting a 3rd and I'm bullish. Why?
The price action shows the aggressive downward move, a breakout from this move around $26.30 and a slight rotation of the angles indicating we may have found a bottom and more buyers are coming in.
But the ascending triangle is why I'm hopeful for a rotation up, this is a bullish pattern and it follows the evening out of the slope down.
The 29.60 level is critical because it is not only a stubborn resistance, but it now has the 200 EMA sitting on top of it which can also act as resistance. Double Whamy.
Because this level is so stubborn I'll be placing a stop buy order on the other side of this, with a tight stop in case of a false break and a rejection back lower.
You'll see similar patterns in Bloom Energy, Canadian Solar and some of the other green energy stocks, which suggests a category rotation giving me more faith in the move.
Suggest picking which one to trade carefully and not picking all of them without looking at correlation since they're all behaving in very similar ways.
EURCAD has not much strength but wants to climbMy Marketmiracle advisor generated an input signal for EURCAD at a price of 1.476860 with a target of 1.484264 for a profit of 0.50%
What I immediately noticed is that the Marketsentiment is heavily negative so I expect that despite the pressure on the market is LONG the cross rises in price but does the essential without too many leaps of joy.
The one described on the graph is the behavior I expect to see in the next few days.
The idea is supported by others that see appreciation of EUR and depreciation of CAD
This idea is based on a signal generated by the advisor Marketmiracle, down on this page you will find the link to the page of signals of the advisor that you can see for free without any cost or registration
Great Buy Opportunity In USDCAD! Disclaimer: this is an idea, trade off it at your own risk
USD CAD has just made a false breakout and has made a strong move up and broke out of the 4H trend, it has also reached above the 200 EMA line.
We should be waiting for the retracement as it approaches the 50% - 61% fib area and look for the perfect buy in that zone (140 - 260 PIPS in Profit)
Then we could possibly look for another buy as it reaches closer to the range high.
If it drops down to the reverse zone we should be looking for it to test the range low support area, and if it breaks out of the range low then we should look for sells as it will approach the February 2018 support area and then look for new structure, potentially a reverse.