High Probability Insight: Day-Trade Daily Momentum on M1/M5TF

CsDash Update for Daily Market Sentiment

Big lesson learned Got stopped out on all my 5 trades. Big loss, 229 pips in total. I was trying 50 pips SL & 150 as TP. Failed all. Should've monitored the trades closely. Will start from scratch tomorrow.

Happy trading mates.

Cheers.

Sorry to hear that mate. Were you involved in all GBP pairs before the Speech?

For sure, tomorrow is going to be a brand new day, and just follow your rules of engagement and everything
will be fine..

Bank of Canada maintains overnight rate target at 1/2 per cent

The Bank of Canada today announced that it is maintaining its target for the overnight rate at
1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.

Uncertainty about the global outlook is undiminished, particularly with respect to policies in the
United States. The Bank has made initial assumptions about prospective tax policies only, resulting
in a modest upward revision to its US growth outlook. Overall, the global economy is strengthening
largely as expected and prices of some commodities, including oil, have risen. The rapid back-up in
global bond yields, partly reflecting market anticipation of US fiscal expansion, has pulled up Canadian
yields relative to the October Monetary Policy Report (MPR).

In contrast to the United States, Canada’s economy continues to operate with material excess capacity.
While employment growth has remained firm, indicators still point to significant slack in the labour
market. The resource sector’s adjustment to past commodity price declines appears to be largely complete,
but negative wealth and income effects will persist.

Meanwhile, the Canadian dollar has strengthened along with the US dollar against other currencies,
exacerbating ongoing competitiveness challenges and muting the outlook for exports. Consumption is
expected to remain solid, while residential investment will be tempered by previously announced changes
to housing finance rules and by mortgage rates that have risen in response to higher bond yields. Federal
and provincial fiscal measures are still expected to support growth in 2017.

Bearing in mind the important assumptions embedded in its forecast, the Bank projects that Canada’s real
GDP will grow by 2.1 per cent in both 2017 and 2018. This implies a return to full capacity around mid-2018,
in line with October’s projection.

Inflation in Canada has been lower than anticipated since October, mainly because of declines in food prices.
Measures of core inflation are below 2 per cent, reflecting material excess capacity in the economy. As consumer
energy prices rise and the impact of lower food prices dissipates, inflation is expected to move close to the 2 per
cent target in the months ahead and remain there throughout the projection horizon while excess capacity is
being absorbed.

In the context of a projection that is largely unchanged, the Bank’s Governing Council judges that the current
stance of monetary policy is still appropriate and maintains the target for the overnight rate at 1/2 per cent.
Governing Council will continue to assess the impact of ongoing developments, mindful of the significant
uncertainties weighing on the outlook.

There's no confirmation yet about a Complete Reversal, but I will be watching this Setup and
hopefully add more to it in the coming days....The market is going to assess the data above on CAD
pairs, then make a Decision for a Direction that's going to affect the market in the next 2-3 weeks or
month.

Here's what I am looking at right now:




Note: I got in a little late, but I will build my position on it if the market pulls back in a little bit.

Current Market Condition/Sentiment: ( Observation ONLY )




1. AUD
2. NZD
3. EUR


6. JPY
7. CHF
8. USD

My Potential Daily Watchlist:


Upload LongTradeONLY Template on:

AUD/USD, M5TF
NZD/USD, M5TF
EUR/USD, M5TF
EUR/JPY, M5TF



Default Settings: -25pip Risk / +(25 or 50)pip Reward / +15pip Trail Stop [Manual Activation is needed]

Trading Hours: 9:15GMT - 12:30GMT

Note: Market Sentiment can change at any given moment, and it's important that you follow your rules of
Engagement before placing any trades.

High-Impact Risk Events to Watch for:





EUR........Minimum Bid Rate
EUR........ECB Press Conference

CAD......Manufacturing Sales

USD.......Building Permits
USD.......Philly Fed Manufacturing Index
USD.......Unemployment Claims
USD........Crude Oil Inventories
USD........Fed Chair Yellen Speaks

Hello Octave,

Your UsdCad trade must be in good profit. Congrats. I just loaded the templates on todays daily watchlist. Looking for a suitable entry. Today there are some high impact news are there.

Cheers.

Oh Yeah, Thank you!

It was a great Trade tho... I did close it out right around Yellen speech for 100pip, but I have failed
to add any more positions because I was watching News on TV...

Anyway, I am hoping to jump back in again after the Crude Oil Inventories report later today during the U.S
Session.

Good Luck in the market today and Hope you get some good pips on your watchlist.

Note: The Canadian Dollar and Oil Prices always move together....Right now, USD and CAD are both Weak...

Update on AUD/USD, M15TF

Update on NZD/USD, M15TF

Update on EUR/USD, M15TF

I decided to close out all my trades because I won't be up early to manage my trades during the U.S Session....

Good Luck to you if you are still on them trades.....

Current Trend and Strength from CsDash ( I really like this indicator because of its speed)

1 second difference changes everything. LOL

Thanks OJ
Can you name it. CsDash....?

Can you uplade the CsDash Expert or Indicator?

No problem mate.



This is the template that I use because it reflects my pre-selected watchlist. You can either use it or have your
own watchlist by turning off some of the pairs on the original list.



Massive Credit goes to Aar for referring this great indicator to us, and Honestknave is a Genius.....

Highlights: Draghi comments at ECB press conference

On Jan 19th, The European Central Bank kept its super-easy monetary policy unchanged as expected on
Thursday, maintaining extraordinary stimulus to aid a tepid recovery in growth after nearly a decade in the doldrums.

Following are highlights of ECB President Mario Draghi's comments at a post-policy meeting press conference.

MORE ON INFLATION
"There are no signs yet of a convincing upward trend in underlying inflation."

"Headline inflation is likely to pick up further in the near term, largely reflecting movements in the annual
rate of change of energy prices. However, measures of underlying inflation are expected to rise more gradually
over the medium term."

INFLATION
"Headline inflation has increased lately largely owing to base effects in energy prices. But underlying inflation
pressures remain subdued. The Governing Council will continue to look through changes in HICP inflation if
judged to be transient and to have no implication for the medium-term outlook of price stability.

"A very substantial degree of monetary accommodation is needed for euro area inflation pressures to build up
and support headline inflation in the medium term. If warranted to achieve its objective the Governing Council
will act by using all the instruments available within its mandate."

STRUCTURAL REFORMS
"The implementation of structural reforms needs to be stepped up considerably ... fiscal policies should also
support the economic recovery while remaining consistent with the rules of the European Commission."

READY TO DO MORE IF NECESSARY
"If warranted to achieve its objective, the Governing Council will act by using all the instruments available
within its mandate. In particular, if the outlook becomes less favorable, or if financial conditions become
inconsistent with further progress toward a sustained adjustment in the path of inflation we stand ready to
increase our asset-purchase program in terms of size and/or duration."

GROWTH AND REFORM
"Economic growth in the euro area is expected to be dampened by the sluggish pace of structural reform."

While there's no incentive for the EURO to go UP, but I have a feeling that this pair might give us a little bit
of a move....

I was long on this pair with a small risk, but the market stopped me out on that initial move to the
downside during the ECB Press Conference...I have no intention to chase it, but I will wait for the right
Entry Point or trade the pattern itself when it completes.

I have no idea what I am looking at right now, but I do not want to ignore the fact that this pair is due
to a move to the Upside in the next 2-3 months.

Mario Draghi needs to step up and let the world knows that the European Union is willing to work Extra
Extra Hard to maintain a solid Economic Growth across the board; and be more optimistic about the structure of
the Euro-dollar.

Trend Direction and Strength ( with CsDash )