MCD1! trade ideas
Canadian Dollar head and shouldersDecember Canadian Dollar head and shoulders last shoulder developed. Fall below pivot at .75405 may indicate a drop to S2 .74805, minimum height of last shoulder.
Canadian Dollar Futures BullishThe 6C Daily time frame broke the down trend
line and created an up fib extension price point
0.77035 about +279 Ticks away.
Impulsive Waves Construction - Part 3 (02)02)This chart corresponds to the second chart of our educational aticle "Impulsive Waves Construction - Part 3".
Impulsive Waves Construction - Part 3This chart corresponds to our educational aticle "Impulsive Waves Construction - Part 3".
Big Head and Shoulders in Monthly Canadian Dollar ChartThe monthly chart of the Canadian Dollar futures (continuous: current month) shows a giant head-and-shoulders with resistance at the 60-month moving average (low).
Canadian Forex Analysislooking at the daily chart of the canadian futures index (D61!) price is at daily supply so any shorts would be counter trend based on the index chart but maybe not on the pairs.
June Canadian Dollar Three DrivesWe may have a Three Drives scenario with Jun CAD. USD was looking like a Head and Shoulders this past two weeks. CAD caught in sideways action. S1 at .74545 would become support for this move. Could also use S2 at.74090. Will have to wait and see.
Broken neckline of head and shouldersTarget is value area low. Would ideally see ABC and be able to fade B down to C.
Short bias but only scalping since must be wary of a pullback since it's not clear where A is on the chart.
Once a big green bar forms it will be much easier to project the location of B and be more aggressive with shorts.
LONG CADMajor rally overnight on the euro, which means USD is weaker. good for cad. Oil was very bullish yesterday on DOE, if oil rallies, CAD will follow
SHORT CADShorting CAD on oil being lower over night, great place to short with a clear stop loss above the high of the day
Gonna watch out for DOE or any rally on oil before DOE to GTFO of the trade
Canadian Dollar Futures Short 4.7:1 RRGood supply level in the CAD futures offering 4.7:1 RR - set and forget
High Probability Intraday Setup for Canadian Dollars FuturesThe following are trades setup ideas in 15 mins chart for Canadian Dollars Futures.
There are 2 distinctive dotted lines labelled as
1. AI's Daily Resistance
2. AI's Daily Support
These 2 Support and Resistance signal lines are generated by machine learning AI robots as a high probability trade setup for long or short.
If price action was above the AI's Daily resistance line AND price closed above Pivot R2 line, the idea is to long and take profit at Pivot R3 line
OR
If price action was below the AI Daily support line AND price closed below Pivot Point S1 line, the idea is to short and take profit at Pivot S2 line
Instead of relying on 100% discretionary (human) trading, the robots will provide trade execution plan and it is entirely up to the human trader's decision to follow.
Canadian Dollar H&S With Supply And Demandi will keep an eye on the canadian futures market (daily chart) for not only supply and demand but also a head and shoulders pattern might be forming. i will check back on the Canadian dollar at the end of the week.
thoughts and analysis welcomed.
cheers-Austin
CANNADIAN DOLLAR FUTURES (MAR 2019), 1D, CMETrading Signal
Short Position (EP) : 0.76315
Stop Loss (SL) : 0.7649
Take Profit (TP) : 0.75965
Description
D6H2019 formed Turtle Soup Sell at 1d time frame. Trade setup with Sell Stop at 0.382 Level (0.76315) and place stop after 0.618 level (0.7649). Once the position was hit, place take profit before an agreement (0.75965)
Money Management
Money in portfolio : $1,000,000
Risk Management (1%) : $10,000
Position Sizing
$0.00005 = +-$5/std-contract
Commission fee = -$4.94/std-contract
EP to SL = $0 = -$175
Contract size to open = 56 standard contracts
EP to TP = $0 = +$350
Expected Result
Commission Fee = -$276.64
Loss = -$9,800
Gain = +$19,600
Risk/Reward Ratio = 1.92
CANADIAN DOLLAR FUTURES (MAR 2019), 1D, CMETrading Signal
Long Position (EP) : 0.756
Stop Loss (SL) : 0.7535
Take Profit (TP) : 0.7652
Description
D6H2019 formed Double Repo Failure Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (0.756) and place stop after 0.618 level (0.7535). Once the position was hit, place take profit before an agreement (0.7652)
Money Management
Money in portfolio : $280,000
Risk Management (1%) : $2,800
Position Sizing
$0.00005 = +-$5/std-contract
Commission fee = -$4.94/std-contract
EP to SL = $0.00250 = -$250
Contract size to open = 11 standard contracts
EP to TP#1 = $0.00920 = +$920
Expected Result
Commission Fee = -$54.34
Loss = -$2,750
Gain#1 = +$10,120
Risk/Reward Ratio = 3.61
CANADIAN DOLLAR FUTURES (MAR 2019), 1D, CMETrading Signal
Short Position (EP) : 0.75995
Stop Loss (SL) : 0.7632
Take Profit (TP) : 0.75345
Description
D6H2019 formed Turtle Soup Sell at 1d time frame. Trade setup with Sell Stop at 0.382 Level (0.75995) and place stop after 0.618 level (0.7632). Once the position was hit, place take profit before an agreement (0.75345)
Money Management
Money in portfolio : $1,000,000
Risk Management (1%) : $10,000
Position Sizing
$0.00005 = +-$5/std-contract
Commission fee = -$4.94/std-contract
EP to SL = $0.00325 = -$325
Contract size to open = 31 standard contracts
EP to TP = $0.00650 = +$650
Expected Result
Commission Fee = -$153.14
Loss = -$10,075
Gain = +$20,150
Risk/Reward Ratio = 1.96
