Canada
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! :)
USD/CAD - ForexUSDCAD reached supply zone and go down.
We can see in the previous examples, when we broke the trend line, we continued to move.
I suggest putting a stop above the highs of the previous correction and holding the position to 50% of the fibonacci level.
Profit risk ratio 1:2
Best regards EXCAVO
AUDCAD Short IDEAThis is my thoughts on the audcad bearish scenario.
NOTE there will always be a bullish scenario so see to it that my analysis matches your own before considering this trade.
Austral Gold: Junior's Time to ShineLooking at Junior Gold as the next big market to trade, obviously due to rising gold and silver prices, but I like this company for a few reasons. Obviously being in South America the local currencies are trash (EM FX at record lows) so costs will likely remain low, especially if oil remains relatively cheap. Recently margins have begun to grow due to rising gold and I think there are companies like Austral that are in an interesting position because they are too small to be bought buy the large ETF's due to their purchase rules, yet they are unlocking significant value for shareholders. Currently the company is raising capital for drilling/exploration activities at their existing mines at $0.08 offering only to existing shareholders, so I don't think the dilution will really hit the market.
I think this offers a trade opportunity with an interesting risk/reward profile. As long as this negative-interest bond madness continues we can expect gold to continue rallying higher, which means the margins at the miners will swell! ETF's can't touch these until they get bigger so the time to aquire shares is now before the gold market as a whole is revalued much higher than it is today.
Highlights:
- Existing Guanaco/Amancaya operations providing cashflow near Yamana Gold's El Penon deposits ( June 2019 AISC < $1000, gold at over $1500 currently)
- Exploration potential in both Chile and Argentina (existing reserves assayed at $1300 Gold)
- Rising silver prices while Casposo silver operation on-hold (reserves in ground gaining value)
- Austral can produce lots of silver, meaning a big drop in the gold/silver ratio will leverage the margin expansion faster than gold producers alone.
The company has some debt, which obviously poses a hurdle, but repayments are going well with the recent increased cashflow. Mineral reserves need to expand so expect drilling and associated costs, there is a deal offering to existing shareholders to fund drilling this year.
Looking technically there have been 2 other historic buying opportunities at these levels, and the market seems to be close to a potential breakout of the falling wedge pattern. If you zoom in on the last year the stock has traded in a range and despite the thin volume there is a potential cup + handle formation holding just below the 0.09 level. I'm obviously bullish and have a long position.
Please comment if you have any thoughts on AGD/AGLD. GLTA.
NZDCAD Supply&Demand setupA quick short on NC. All timeframes are aligned in a downtrend since the price formed and retested a new weekly supply zone. I'm waiting for a retrace to the last H4 supply and a nice ride down to the opposing demand. There is a monthly demand zone just below so we need to be a bit careful as a major trend change is on the horizon.
CAD/SGD Profitable LevelCAD had a nice bottom movement two weeks ago and we are convinced by the confirmations that it stopped the bears.
Entry: 1.028
Stop: 1.023
Target: 1.04
Have a nice week! Follow for more.
Oil - LongKey area of support is 49. Look for break of descending 4 hour trendline or a touch of the long term ascending trendline.
watch for breakout of reverse H&S wth lunch of B.C into the ride hailing ... there seems to be some ground shifting ... could be a potential turn around for Lyft and Uber . lets see how the chart signals this in short term
CANOPY GROWTH TSE: WEED 1DAY Bottoming PatternPossible Bullish Reversal pattern. Potential for high % profits for Canopy Growth. (Canadian Cannabis Stock)
S&P/TSX Composite Index can test Minor Resistance LevelsWhen we look at Canadian instruments during the Autonomous LSTM Adaptive period:
We see a cheapness in both stock markets and currency.
Even though I have a positive opinion about the target, let's try it out in small quantities and leave more position size in case of a second try on negative scenario.
This analysis can be more risk-free with the following parameters:
Position Size : %1 for Index Futures or Small percentage of Portfolio
Risk/Reward Ratio = 1/1.99
Stop-Loss : 16911.75
Goal : 18032
NOTE:
The unapproved short signal is the leading indicator of volatile movements.
So let's be careful.
Let's leave more room for the second attempt, which, when the circumstances are in our favor, let us gain much more of our loss.
Regards.
USDCAD long idea - Buy DipUSDCAD found resistance @ 1.31700
Assuming five structure has been completed, i'm expecting a-b-c correction before we continue buying this pair as long as market above KEY LEVEL.
Critical level : 1.29533
$CGC potential buy opportunity coming upTicker: $CGC
CGC had a huge bear day, closing near the LOD on Friday. It was very correlated to $SPY on Friday and I won't be surprised that it will continue to be that way if the market dumps. Hourly time frame is in the oversold area, but I will be patient to enter if the market is dumping. I will look for a potential entry this coming Monday if we dump hard.
Anything over 19.02 is a daily HL and in the long term, the bulls still have complete control. Watch the volume this upcoming week as it will be a key indicator. Daily bull flag is negated due to Friday's bear action, but I will look for a equilibrium pattern with a HL above 19.02.
Long Mid Term Play#bumpandrun , #dragonpattern is forming , I think today we are witnessing the total break down of the major downtrend , should the 50-200Ma crossing hold , Im thinking a short term rally is just starting and after a pull back to the cluster around the blue trend line and the pitch fork that was just broken out of ... with targets of 85$ within reach in first half of the year. lets see, will play it by ear though as we move along
ridethepig | CAD Market Commentary 2020.01.09Interesting price action in USDCAD after another round of soft data from Canada. Poloz has a lot of work to do tonight if BoC are to move as rate markets are materially underpriced, especially on the front end. Expecting a dovish ‘fireside’ with early signs of encouraging demand above 1.30 this morning. Starting to cover shorts after the break through 1.304x has opened a move towards 1.31 and 1.317x, the original entries in the 2020 macro map:
USDCAD LMT BUY 1.304x => TP1 1.310x => TP2 1.317x | STP 1.299x
The reflation theme which is a bi-product of the dollar devaluation allowed CAD to outperform in the immediate term however now USD is in full control as CAD macro prints have started to turn down. As long as USD remains in first gear we will have room to test the topside again, as there are two sides to the currency pairs, rather than CAD strength in this move we are trading USD weakness.
As usual jump into the comments with your charts and questions to open the discussion, best of luck all those trading live and thanks for keeping the support coming with likes!!!
USD vs. CAD (NEW PATTERN)The USD price appreciation building up in the USDCAD pair has not yet unfolded, but when it does it will be a nice long USD trade (or short the CAD trade). Previously we identified a bullish flag on the weekly and monthly chart, but it looks like the flag is shaped a bit differently now that 2019 is behind us. Here are the new technical levels to watch. At the moment price seems to be transitioning from one trap zone to the next trap zone, but the battle lines are now clearly drawn. There will likely be some nice bullish action in this pair by the end of 2020, so don't forget to bookmark it!
CAD/JPY : after resistance arrivesI expect he will fall to the specified level after reaching the resistance
USD/CAD : The price bounced back at the resistanceThe price does not continue to decline now in the event of an increase after the rebound and proceed to the resistance
Pound under pressure, GDP & dollar There was a lot of talks about Trump Impeachment. Despite the decision of the House of Representatives, the chances of gaining Senate support are extremely low (gaining 2/3 of the vote is almost impossible). So the reluctance of the dollar to fall against this formally negative fundamental background is generally understandable.
And if the dollar yesterday felt relatively confident in the foreign exchange market, the British pound continued to be under pressure.
The day for the GBP began with failure: retail sales (MoM) November f -0.6%, however, the experts expected an increase + 0.2% (MoM). As a result, this decline formed the longest series of monthly retail sales in the country since 1996. A series of the fundamental negative for the pound continued the Bank of England.
The central bank did not lower the rate but made it clear that considering such an option. Lowering the forecast by the Central Bank on UK GDP growth rates in 2020 by 0.1%is not optimism news for pound buyers. So the results of the meeting of the Bank of England are “dovish”, which was against the British currency.
The fate is not in the hands of the Bank of England or macroeconomic indicators but in the hands of Brexit. Despite Johnson’s statements on Monday, we continue to believe in the deal and the “soft” Brexit, which means that the pound will certainly grow, with growth rates up to 1000 pips. Accordingly, the lower the pound falls, the greater the growth. Therefore, we continue medium-term purchases of the pound, and today we buy on intraday from 1.30 (the entry point is too good to pass by, plus the Friday before the Christmas holidays - many want to take profits in short pound positions, which will contribute to its growth)
Today is unlikely to be calm. Besides the fact that it is necessary to process and take into account the prices the entire array of information that is hitting the financial markets this week, on Friday we are waiting for data on the GDP of the UK and the USA to come out, as well as statistics on retail sales in Canada. We do not expect any excessively strong directional movements, so we will adhere to the tactics of oscillatory trading on the intraday basis
As for medium-term positions, there are no changes: we buy the pound, the Japanese yen and gold, we sell the Russian ruble.
