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Loonie

USDCAD Multiple Time Frame Analysis and Trade IDEASUSDCAD Multiple Time Frame Analysis and Trade IDEAS Daily or Swing Trading Opportunity: Time Frame D1 or 12Hr Chart The daily chart is showing a completed ABC zigzag pullback. I like to call this the PC pattern We have opportunity both on the D1 chart to take the Next Wave 5 Down within this Wave 3 down Also there is a potential opportunity for he Intra-Day traders. Intrad-Day or Day Trading Idea: Time Frame H1 or M15 There is a potential setup that can be taken on the H1 or the M15 chart tomorrow at Frankfurt Open.
Short
by iTradeAIMS
1
GBP/ CAD (Cable/ Loonie) Here on the Pound Cad we have a gorgeous Bat pattern. Right now we See PA respecting the PRZ by throwing Indecesion Candles. Now, whether the pattern works in our favor is a different story but what we do know is the level is valid as PA raced into the PRZ and is now tangled up. im honestly looking for this Current Candle to close as a Bullish Spinning Top or Doji to justify an enterance. Based on the oscillators at the bottom of the screen im waiting for those too. but more emphasis on PA! Will Update as time draws closer to entry!
Long
by ARegularGuy
1
Elliott Wave View: Dips in USDCAD Should Find BuyersUSDCAD 45 minutes chart below shows that the pair has ended 3 wave pullback from June 15 high in wave 2. The pullback unfolded as double three Elliott Wave structure and ended at 1.3482 low. Afterwards, the pair resumed higher in wave 3. Up from 1.3482 low, wave ((i)) ended at 1.3559 high. Wave ((ii)) pullback ended at 1.3525 low. The pair then extended higher in wave ((iii)), which ended at 1.3666 high. The internal subwave of wave ((iii)) unfolded as 5 waves impulse Elliott Wave structure in lesser degree. The pullback in wave ((iv)) then unfolded as a triangle and ended at 1.3632 low. From there, the pair pushed higher in wave ((v)) which ended at 1.3715 high. This final move completed wave 3 in higher degree and ended cycle from June 23 low. The pair is currently doing a pullback in wave 4 to correct the cycle from June 23 low. The correction is unfolding as a double three structure. Down from wave 3 high, the pair ended wave ((w)) at 1.3642 low. Wave ((x)) bounce ended at 1.3705 high. Wave ((y)) is currently in progress. While above 1.3482 low, expect the dips to find support in 7 or 11 swings for more upside. The 100 -161.8% extension of wave ((w))-((x)) where wave ((y)) can potentially end is at 1.3586 – 1.3631 area and shown with a blue box. That area, if reached later, can see a reaction for 3 waves bounce at least.
by Elliottwave-Forecast
1
CXY (Canadian Dollar Index) Loonie So on the CXY we have an incomplete Bat Pattern we see PA enterered the PRZ and was severly rejected without completing the pattern. We need the entire box to be tested before the pattern is complete. So, on the COT what we have are the Consumers and Producers buying and selling to eachother. As open interest has increased but the Non-Coms have reduced both their sides respectively while both sides of the commercials have increased thiers. if you were just looking at the Net Positions it would look as if the commercials are stepping to the Zero Line and the Non-Coms are stepping away from the Zero Line, but looking at the Line items the Commercials both have increased their positions, and the Non-Coms have reduced their positions. Now, interestingly enough the Non-Coms spread have increased thier Net-position. Now, normally we dont really pay attention to the spread as they are playing both sides of the plate. For example one company could be buying and selling the same currency. So, the Loonie might be stuck in a range this week so as a harmonic trader the CAD might be a pair I monitor closley as the Harmonic Trading strategy is best in a ranging market. The COT Net Data: Commercials- Current== 24,363 // Previous== 25,110 Non-Coms- Current== (25,486) // Previous== (24,829)
TVC:CXY
by ARegularGuy
3
usdcad broke a falling wedge!!!The loonie has formed a wedge during this week and yesterday it managed to break it; today there has been a retest on the trendline. 50 moving average in h4 is supporting the price action and I think that there are good chances for an upside leg whith 1.387 as a target. Ichimoku cloud (the "kumo") is now under the price and is offering support, kijun and tenkan sen are still moving sideways, so there is not a clear sognal yet but in my opinion if price does not close under 1.35 there will be a bullish leg. Use a stop loss, in the picture the risk/reward ratio is a bit over 2, anyway you can decide to use a tighter stop, it depends on your trading plan. Study H1 chart if you want a perfect entry.
Long
by Dragon_Investments
1