USDCAD Testing 12 year high of $1.40So the disappointing Core Consumer Price Index (MoM) print earlier has sent the USDCAD hurtling towards the psychological price of $1.40 which hasn’t been broken since August 2003! In addition to this, it’s no secret that the tumbling oil price has been a contributory factor to CAD weakness. Due to the strength of the resistance, I would expect a pull back to $1.283 before any further gains.
The latest Canadian Consumer Price Index print print can be viewed her, if any of you are looking for something riveting to read...
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Statistics
Bat Pattern, Aud/Nzd , 1hrHere I found a bat pattern developed and completed in the negative deviation range of the AUD NZD chart. my strategy suggests that the market will rally up into positive deviation before correcting for trend continuation.
I have place my entry at point B to Verify reversal after point D
I have placed my Stop at point X for the break below close below bust
! have placed my limit at the 1.618 extension of the BC leg , for consistency and risk reward ratios
The Next Big Thing Coming From TradingView - Have A Good WeekendGreat Example Of Statistics Any Technical Trader Should Know!
Below is a link to a PDF version of a hard to find book on technical price patterns. While I haven't read the book yet skimming through it it shows Great Examples of the Statistical Data/Probabilities Any Technical Trader Should Know Regarding The Systems They Trade.
Good NEWS!!! THE NEXT BIG FEATURE TradingView will be releasing is Strategies and Backtesting. Approx. 30 Days from now give or take 2 Weeks!!!
Then you will have the capability to know theses types of facts...Or another way to say it is...You'll Have No Excuse Not To!!!
I've known these Statistics for as long as I can remember....#1 it gives you a calm feeling...knowing what to expect. #2 It gives You The Ability To Quickly Find Out What Your Doing...Does Not Work...
Without Finding out the answer to #2...You Won't Know To Search For What Does Work...Fortunately...TradingView will be giving you the Tools To Get Statistical Data...that 99% of Traders Don't Know...
Info Regarding Indicator on The Chart...It's just V1
Ever heard of NR2, NR3, NR4, NR7 Strategies?
Version 1 of Narrow Range And Wide Range Bars
Link To Rare Book On Technical Price Patterns!!!
More To Come Once I Go Thru Book.
***While I haven’t read the book yet…Skimming Thru it Shows Great Examples of The Statistics Any Technical Trader Should Know Regarding Their Trading Methodology!!!
Link To PDF - Day Trading With Short Term Price Patterns And Opening Range Breakout.
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