If the shoe fits... USDCAD vs USDJPY structure repeating

The market repeats and produces similar patterns and waves, structures, etc. I am well aware both of these are against the Dollar so they will tend to be similar in nature. However, if you look at USDJPY you'll see that it made three highs on the daily, then eventually fizzled out into a triangle and dropped. USDCAD on the left you'll see has literally match all characteristics to practically the same retracements and momentum. The drop we saw late 2018 was just the beginning of what I believe to be a weak Dollar. I have been biased since December that the dollar will rise throughout spring, maybe even to summer, then it while be dropping, heavy, for almost a few years in my opinion. More on that in another post.

I just wanted to post this to help anyone who might be looking for some USDCAD ideas, or anyone who appreciates a simple view of market structure.

I'll be looking to short around the .886, which will also have a Bat pattern completing there as well...just like the UDSJPY did...

elevatedinvestor

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elevatedinvestor

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