Canada
USD / CAD ! LONGIt touched the trendline a lot of times and its bouncing from the support very fast.
Break up is most likely to happen
Remember always trade the most probable scenario, SL below the 200 sma
WOW, look how perfect that is TLRY cup & handle reversalTLRY up because it is a cup & handle pattern and it just looks so perfect. It matches the .618 retrace and it is amazing how it looks to fit so perfectly. We closed literally at the fib. Wow! This matches the fib level of the cup & handle, handle I linked. You can see how we are in a channel and that we are going to target 1 around 11.23, which would be around the 300 sma on the chart. You can also see how the dotted line perfectly lies within all of this (target 1) and then target 2 as I learned is the length of the depth of the cup and still within the channel. I drew three grey lines that are just relative resistances from the overall bearish trend. It is amazing how the second target matches the yellow follow through that is a copy of the prior days move. Great news just came about providing 40b in liquidity to cannibis sector in Canada! Also, it is so amazing how it looks how it is going to breakout and have a nice retrace to test the prior huge bearish channel.
I recommend sellingAs you can see in the volume the buyers are out of breath and we have a strong entry of the sellers so I think it will have a trend reversal
Advice to do nothing at the momentWe have breathlessness of sellers and we broke a resistance which is a strong support since May 2017 and March 2018 i advice to buy until there is a high volume of purchase green . Attention ! be careful it could just be a pullback and continue to follow the low tandance.
Take profit if you are a seller and do not advice to buy nowWe are at the end of a downtrend I advise not to buy now because there is no significant volume for the moment I think we will enter in a small phase of range.
On est dans la fin d'une tendance baissière je conseil pas d'acheter maintenant car il a pas de volume important pour le moment je pensse qu'on va entrer dans une petite phase de range.
USDCAD Weak Bear!Kinda feels like the bear has no much strength to even drag this pair further deeper. We have seen good gains on the comdolls from the beginning day of the week. Equity market did raise well and mostly TVC:DJI but talking back to comdolls at the moment bearish are weakening. Feels like there could be more probabilities for upside rather than the downside as long as this contagious virus doesn't stop pressurizing the world creating a further financial crisis that will not be ok thing for a currency like a loonie.
Canadian Commercial Real Estate Fund!!! FTSE CADReal Estate Crash might be the next phase of the Global Crash. In Canada it is below November 2012 founding date!!!!
CADJPY Probabilities of further stimulus incoming_BOCGoverning Council stands ready to adjust policy further and to deploy other market tools if required: BOC . 25 bps cut probabilities at the April meeting or sooner.
Canada Blow Out - Looks like the US is doing a temporary border closing. In conjunction with a flight to safety (USD Index at all time highs), it's a brutal move for USDCAD.
2016 highs being re-tested here. I'd say you have to take the other side of this (Long CAD) as there will be a retrace back to normalcy. Trade to continue between countries.
TSX in a long corrective wave downTSX finished its cycle wave 5 in Feb 2020 after a primary ending diagonal pattern. It is now tracing primary wave 1 down of a 5 wave sequence in the same direction. Still a long way to go ...
TSX Composite Long : + % 1.65 Parameters :
Position Size : %1
Risk/Reward Ratio : 3.2
Stop-Loss : 13631.53
Goal : 13928.72
NOTE :
If it gives opportunity, it can be entered in these parameters above.
If everything is ok but we miss this trade, new Goal is : 14610.5
Bad scenario : Stop-Loss
Btw Zoom in :
Best regards.
You Think a Bank Going Up 18% in 1 Day is Normal? LOL No.We saw a hilarious 7%+ rally in the last 25 minutes in the US indices and Canadian markets but that's all it will end up being - hilarious.
This was nothing more than a mega algo pump for cheap short accumulation and this will come home to roost in a likely Monday and Tuesday historic bloodbath.
I mean lets be honest, do you really think a Canadian bank could legitimately pop 18% in a single day? That my friends is what we call a total joke.
Please visit my ideas below to see what I believe will happen, why and the timing. Overall, we will see VIX shoot past 90 and financials and energy sectors will get completely obliterated (amongst the entire market).
We are about to witness a historic crash like no other with the years of malaise like the dotcom bubble, but the 50% severity of the financial crisis.
- zSplit
LOONIE EXTREMELY WEAK! 3RD WAVE UNDERWAY!WAVE COUNT SEEMS PRETTY GOOD!
CANADA'S ECONOMY IS ABSOLUTE GARBAGE, OPERATING WAY BELOW POTENTIAL!
BOC HAS BEEN MONETIZING FEDERAL DEBT FOR A DECADE!
I AM BY NO MEANS U$D BULLISH BUT CAD IS GOING DOWN THE TOILET!
A clear view of Brent Crude Good evening traders, I hope all is well today I'll be taking a look at Brent crude it looks like we have broken a period of consolidation and we shall continue trending upwards I've entered a few trades on a small account I realized that I have entered a bit late but thats alright as I could see Brent crude continuing to go up from this point forward, also I personally like to wait to enter into my trades a little late to make sure that my analysis is correct. Let's see how much I could get the small account up to by the end of this week! I'll also be sure to post updates of the account by the end of the week.
Please leave a like If you agree with my analysis or leave a comment with your view on Brent crude.
Have a wonderful day all, and if you ever need help with forex shoot me a DM I would be more then glad to help you out! :)
