USDCAD: Can wait to buy at new supportYou can see a clearly breakout in h4 timeframe
Swing higher high and higher low are done, so it is confirmation a uptrend
New support is entry zone. You can wait a signal here
Trend_following
GOGO moving upI like GOGO to move off this current support and make its way to the $27 range which is a mirror in length as shown in Orange and hits a 1.618 if you like your fibo's. Some resistance (or first targets) would be at the old high of $22-ish, and the $24-$25 zone from previous highs and where I think the 1.27 could chew up some momo.
GBPUSD: Bearish TCTThis trade was originally brought to our attention this weekend in Jason Stapleton's Forex Market Preview video "Studying Harmonics" ( www.youtube.com ) As I take a look at it today price action (after creating a LLLC) has retested the previous level of support which should now act as resistance.
In addition to the structure level we also have a Fibonacci ratio cluster of retracements and an inversion. Lastly, we have hidden divergence on the RSI which is a sign for trend continuation. Of course when I say a sign, it doesn't mean it will happen everytime, but it's something that we can add to our score when breaking down this trade.
Akil Stokes
Head Currency Trader at Trade Empowered
Following The Trend : Buying Gold..Let 's try this again , Gold will most likely end up closing above it's 10 month MA. I will open a position if that the case and hold it till the end of the month. If it still above it's MA by month end , the position will remain open.
Cheers
Algo
