The Loonie is gold-coloured - part3I'm still bear here. Price has not been not able to close strongly below the down-ward sloping median line and found support. It has then moved up nicely along the reaction line (blue line) and towards the upper parallel. I will wait few more days for the price to move higher. This is also a significant Fib retracement between 13 June 2013 high and 05 July 2013 low. Last one before going on holiday.
MCD1! trade ideas
The Loonie is gold-coloured - part2As reported in my previous study on the monthly chart the Loonie is coming out of a 2year triangle formation. A Bear flag has formed at the down-sloping median line on the daily chart. A trade below the pivot low will confirm the sell signal with first target objective 0.92.
The Loonie is gold-colouredMajor ABC pattern between March and May has set-up a continuation of the down trend for the Loonie. Currently testing the upper down sloping parallel line. Another green bar or higher high on monday the 10th of June would be ideal to enter the short position.
