USD/CAD might go up little bit ~200pips before it will go down. Lets see
- #9,187
- Jan 25, 2016 6:02am Jan 25, 2016 6:02am
- | Additional Username | Joined Dec 2015 | 3,529 Posts
- #9,189
- Jan 25, 2016 7:41pm Jan 25, 2016 7:41pm
Current significant levels to watch. Yellow level has .50 fib confluence but is still far away.
Pair is being pushed by weaker hands at the moment trying to get onto the up trend. Around 1.4443+ they are likely to capitulate if not before.
Short at 1.4443
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>> Quinton’s Simple & Effortless Trading thread
Pair is being pushed by weaker hands at the moment trying to get onto the up trend. Around 1.4443+ they are likely to capitulate if not before.
Short at 1.4443
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>> Quinton’s Simple & Effortless Trading thread
- #9,195
- Jan 26, 2016 10:09am Jan 26, 2016 10:09am
Report for the week ending Jan 22 2016 USDCAD got way overbought and had an exhaustion climax buying to just under 1.47 and then reversed strongly. Whilst momentum on the daily and weekly charts is strongly positive, lower timeframes like the 240 min and 480 minutes have tradeable negative momentum that should see it test down to 1.38 to 1.40 area next week. Trading strategy for the next two weeks will be to stay short until support is found in this zone and then go long for a retest of at least 400 to 600 pips back up For real time trades refer...
USDCAD found resistance at 1.4320 on move up. This gives even stronger odds of a move down to 1.38 zone this week . 1.38 - 1.382 zone would be abc down measured move.
Took the following trades. Still have core position short. Looking to add more. As always one can follow my trades live in my trade explorer
