USDCAD: Expanding the analysis
Diupdate
In this chart I'm adding an overlay of USDJPY to show what I'm expecting to occur in the coming days/weeks.
It's possible to see further declines, but we need the chart to give us a valid time at mode trend signal to short it again, namely a correction before a new sharp decline. It's also possible this happens in a small timeframe and might not be observable in the daily, so I'll be monitoring for entry carefully.
It's clear that USDJPY has been leading USDCAD in the uptrend from the 2013 low to date, so I'm fairly certain it'll slide down some more once USDJPY resumes the decline to 113 or even as low as 102.
I've closed my equity longs for the time being, and will start looking for associated setups.
If interested in coaching and/or trading signals, contact me directly. I'm currently providing a special promotion for the coming week, since I think this and next week will give us probably some of the best trading opportunities of the year.
Cheers,
Ivan Labrie.
It's possible to see further declines, but we need the chart to give us a valid time at mode trend signal to short it again, namely a correction before a new sharp decline. It's also possible this happens in a small timeframe and might not be observable in the daily, so I'll be monitoring for entry carefully.
It's clear that USDJPY has been leading USDCAD in the uptrend from the 2013 low to date, so I'm fairly certain it'll slide down some more once USDJPY resumes the decline to 113 or even as low as 102.
I've closed my equity longs for the time being, and will start looking for associated setups.
If interested in coaching and/or trading signals, contact me directly. I'm currently providing a special promotion for the coming week, since I think this and next week will give us probably some of the best trading opportunities of the year.
Cheers,
Ivan Labrie.
Catatan
Oil has reached my uptrend target in the short term. We might get a consolidation or reversal.Catatan
I'm short AUDCAD, but looking to rejoin this and also add USDRUB.Catatan
USDCAD is in a consolidation but oil's forming a nice uptrend continuation pattern. Expect more shorts in this pair soon.Trade aktif
Following the analysis, usdjpy lead the way...I'm entering a USDCAD long off this support level.Catatan
Added to the USDCAD longs, I'll close the 2nd entry 100 pips higher more or less.Catatan
This retracement is really serious.I closed my longs with 2.75% profits, but didn't reshort.
Catatan
If we get a retracement we can short again.Catatan
I got the retracement entry and shorted USDCAD again. Aiming for new lows. USDJPY still has room to fall to 113 easily, and potentially 102.Catatan
Will USDCAD follow the lead in USDJPY...I'd like to find out so I'll short it.Trade aktif
Shorted again, big downside possible.Catatan
Great progress today, added to shorts.Now usdjpy is retracing, the relationship between these two pairs is excellent, a very useful pattern.
Catatan
Long term target.
Catatan
We might have a rebound before resuming the decline.Catatan
The FOMC support has finally failed...Downside to 1.3 opens up with high probability.We also have a new potential time at mode downtrend signal.
Catatan
As a sidenote, the usdjpy leg up matched the start of a new leg down in usdcad, as illustrated by my analysis of this cyclical pattern. Seems to be a good barometer for this trade.Catatan
The last two legs down and now up have been synchronized in usdjpy and usdcad. This is atypical behavior. I think the bottom might be in for the dollar (at least vs these two currencies)Catatan
Going by this analysis we could expect a retracement in usdcad.
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