UC: Update on free signal given on 11.14We've cleared enough profit to move stop loss to entry so this is as of now a risk-free trade. Our first downside target remains 1.315 which is just over 100 pips. We're currently floating +38 pips and look for more downside price action in correlation with Oil potentially breaking 78$ a barrel. Four days of bullish price action were over with yesterday's bearish (engulfing) close. We're looking forward to more downside price action with this trade and will update to the channel when we have taken a partial profit.
UC
UC Daily Update: Neutral Until BreakWaiting patiently for a higher low around 1.32 for a possible long entry! Patience will be key! Looking like some really good trades are on the way!
With this specific setup, being dynamic and flexible to price action in either direction is key. Remaining neutral in a setup is essential to hitting any opportunity that will come our way this week.
Confluences for a long:
- Ascending trending line
- 4-hr and 1d uptrend
Confluences for a short:
- Potential for retracement at fib zone
- Monthly resistance of 1.33
- Weekly descending wedge
USDCAD: Large corrective structure - down then upThis pair has been trapped within a large complex correction between 1.38 and 1.20.
This move down started for the top could breakdown support soon to pass all the way down into 1.20 area to tag former valley.
Then another seesaw move before the final drop occurs.