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CADUSD broke out the triangle but a strong resistance aheadThe 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 bottom formation and potential reversal zone of gartley and low interest of people as per volume profile produced a powerful bull thrust so the price action broke out the resistance of the triangle. Now the price action is moving up the trader's interest is too high between 0.382 to 0.618 fibonacci (upto $78.50), and above @78.50 can be a strong sell area coz. The pivot resistance is above the strong sell area. And we have a pivot point beneath the price action which can pull down the price action after hitting the area between 0.382 to 0.618 fibonacci of A to D leg of gartley. But the final decision can be made when the price action will be entered in 0.382 to 0.618 fibonacci after that we need to see the movement of price action and all indicators if they will give bearish signals then we can sell. Regards, Atif Akbar (moon333)
by moon333
JWCA:TSXV - James E Wagner Cultivation: trying to curlJWCA:TSXV - James E Wagner Cultivation: trying to curl while general sector is weak, aside from the brief pop two Fridays ago this has built a decent base in the last three weeks in the high 70c to low 80c range. 81c is currently the biggest psychological resistance as we haven't had any ability to hold gains above it, 81c will also represent the middle BB line. Also remains stuck under the 50dma & 200dma. While these indicators are not in a bullish setup, I remain long term bullish on the stock as near term catalysts such as oil sales license is expected soon as is the first harvest from phase 1 JWC2 facility which will represent their first harvest for recreational use greatly expanding revenue. This little LP has great IP in their growth storm technology as well as great quality cannabis and is significantly under valued. TSXV:JWCA
JLong
by justin_paul
Harmonics anyone? 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 data. The Us president is currently in Japan making negotiations and china is looking to de-evaluate the YUAN. So this week should be very interesting. Happy Trading and Manage your Risk! The Urban Genius
Long
by UrbanGeniusOfficial
1
I have Ucad mapped out for the WEEK, here take a look!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 economic data. The Us president is currently in Japan making negotiations and china is looking to de-evaluate the YUAN. So this week should be very interesting. Happy Trading and Manage your Risk! The Urban Genius
Long
by UrbanGeniusOfficial
USDCADClearly, the dollar is gaining against the Canadian dollar and long USDCAD is a bit crowded at the moment. Moreover, we have upcoming Canadian economic growth (GDP) coming out this week which is expected to be stronger than the previous period at 1.5 percent from 1.1. percent. That is still pretty weak though, it doesn't come out until Friday, and there is plenty of other pressures, event risks, and themes that will likely play into trading this week. Overall, a weekly trend trader should go long while one expecting worse news in the global growth slowdown story to short. For those a bit cautious, just stay put however my general assessment is short. If you want to find more of my charts and analysis, please check out my content at www.anthonylaurence.wordpress.com
by WhiskeyTangoFoxtrot3
Position USDCADA great opportunity in USDCAD for position in the weekly chart with excellent risk-return. The price follow the trend for more than 15 months and now again we are testing channel support. Since December, the price has dropped sharply following the cloud trend to channel support. It has been traded in less than 1.31 in confluence with Fibonacci retracement 61%. Yesterday it closed with white Marubozu candle indicating strong buy, breaking the short-term down trend in the channel, triggering the operation in a "safe" level. In the middle of the road we still have a resistance at 1.335 which should not be too difficult to break, but delays the process of achieving take profit. Looking to CCI the price should follow the trend, at the daily chart the indicator is above 0 and in the weekly is almost there. This trade carries a risk-return of 1: 2.7 which is a good reward, in return it can be time-consuming. We can exclude the factors from the economic calendar tomorrow, probably projecting downside to the pair, and also the others that come. Trade wisely.
Long
by GFauth