hullzy

hullzy

Possible setup with an inverted Head and Shoulders. I normally would like to wait until a retest of the neckline breakout but I've entered this one a bit early with so much support from the 200 SMA on the daily as well ass channel support. Also Oil trading into resistance after a significant runup. I also believe the fundamentals in the Canadian economy will start...

hullzy

I'm looking at a complex Head & Shoulder patter forming. I would look to trade the retest of the neckline after the initial break at 1.1500. Might be a few more days of consolidation above 1.15 before the initial breakdown. This could mean a potential completion of the patters way down at 1.05 which be big support.

hullzy

Price is retesting the mid-June Breakout of the down trendline. There is also confluence with an upward trendline and lots of congestion at this price level dating back through 2016. Price is still above the 200SMA also in an uptrend. Lastly the Stochastic is looking oversold and looking for a fresh cross back to bullish. Stops at 1.2930 and initially targeting...

hullzy

I like what may be an inverted H&S forming at channel support. It looks like there are several Inverted H&S that preceded this one that did not play out but I feel like the risk is reasonable where it's located in the upward channel. I'm starting to nibble with a small position at the formation of the shoulder (entry 1.0496) and will add if there is a breakout at...

hullzy Updated 

I think there are lots looking at this pattern already but I happen to strongly agree with it.The pattern combined with bearish divergence on the RSI I entered early at .7280 after the bounce of the far right shoulder. I'm expecting a breakdown in the next few days. I've got stops at breakeven already. My first target is at least to the channel support around...

hullzy

I played this on the breakout a couple weeks ago but it didn't push through. Trying it again based on the strong jobs report out of the US, weak oil and now the likelihood of a US rate hike in the US in December. Today the GPBCAD tested the 61.8 and of the last short term move up and will hopefully close with a big green hammer on the Daily chart. I'll sell some...

hullzy

I don't trade equities much anymore but like to keep a couple on hand for long term positions. This stock has been beaten up for a long time but may finally be finding a bottom. It is a Canadian Utility company and they turned a profit in the last quarter. They have a dividend yield of over 11% so it looked like a great price to buy a stock to hold onto for a while.

hullzy

I'm setting up for a strong NFP number on Friday and a gradual grind higher in the USD leading up to the December meeting of the FOMC, where I still don't think they will hike rates, but that's for another day. The USDCAD has been forming a down channel since late September but with strong support at 1.3040, and support holding previous at 1.2033, I'm expecting to...

hullzy

Looking at a possible long in the USDCHF at 0.9481 as it shows confluence with TL support back to Jan 2015 and the 61.8 retracement from the late August - late September move. Also the DXY is testing the September 18 low and will possibly find some support.

hullzy

Looking at a potential Inverted Head & Shoulders pattern forming on the USDCAD. I'm liking this pattern as Crude may also be forming a H&S pattern that would target the $43 range again. In addition, the Head of the pattern also sports a double bottom which helps support the direction of the move. With the close relationship between the CAD and Oil, I'm targeting...

hullzy

The DXY may be at the bottom of a potential Bullish Flag formation. Given the Slightly better than expected preliminary GDP number, this will be a possible set up into next week. At target of 99.25 which would complete the flag pattern and be at down trendline resistance dating back to mid April. With the EURUSD sitting just below 1.10 and the USDCAD pushing 1.25,...

hullzy

Potential Flag patterns forming on the DXY and the USD/CAD. There is a similar Bearish Flag forming on the EUR/USD close to TL Support. Don't know if the pattern will break going into the Long Weekend in the US but could be a setup for next week