CXY - CAD - Strength Followed By Weakness?Thoughts?
Hard to chart index's sometimes.
Expecting a bit of strength before some further weakness.
CXY
UsdCad, Bat Pattern, Big profit chance at daily chart? SHORT?Like i said it's daily chart. Looking we are at the D point of Bearish Bat
Christmas + end of the year + daily chart, will be long way for reaching targets.
There are too much pips between entry point and tp and sl.
Risky but if it works; will be great profit.
Thats not an investment advice.
Do your own research before invest.
-DYOR
-YTD
Good Luck and Merry Christmas :)
-YusufDeli
EURCAD, Bat Pattern !It reached BAT Pattern D point.
And olsa Big Trend Line waiting there.
I'm waiting short from here.
Maybe it can go Alternate Bat Target (%25)
-DYOR
-YTD
Good Luck
-Yusuf Deli
NZDCAD SellUSOIL prices will rise during the winter and we should see some improvements on the CXY prices.
I expect this to be a sell trade overall.
CXY WeeklyCad index... But Weekly... Mind you. This is the pattern that seems to be playing out. We can still get a correction and one more down into the zone, but all the fibs measure out for a 7 swing...(From the low it just made). The "X" wave can be in different variations, but this is how everything seems to be measuring out.
CANADIAN INDEXCXY buy idea @ Demand Zone 75.6-72.6
Buy Limit: 75.6
Stop Loss: 72.5
Take Profit: 80.0
Canadian dollar index - Reinforcement expectedHi guy, the "Loonie" aka Canadian dollar is near a strong support weekly. This support is an ascending trendline which might announce a strong rebound of the Canadian dollar.
Possible scenarios:
USDCAD: USD on a resistance and CAD on a support = Short on USDCAD
EURCAD: Downtrend continuation expected on the pair
GBPCAD: Downtrend continuation expected on the pair
NZDCAD: Bearish. Come-back on 0.8700 expected¸
AUDCAD: Neutral
CADJPY: Bullish
CXY- a long term buy is comingCAD index droppped all due to fundamental reasons.Looks like its time for it to gain all its strength. We could see a strong CAD in upcoming days
USDCAD Potential Bearish Bat @ Trendline on the 15MI am still holding longs from earlier today based on the (blue/purple) Bat pattern. That pattern reached TP1 and TP2 is still pending. However I have set orders to exit long at the completion of the pattern and am strongly considering trying to short from there for at least TP1 and 2. From there we could look either long again or trail stops, depending on price action at the time.
If the pattern fails then there is an AB=CD pattern which wil likely complete, but as this will be after the breakout of the trendline I am not sure how wise it will be to short at that point. Watch for warning signs!
Let me know what you think, especially if you are already in USDCAD. Cheers!
Short USDCAD Until The Bullish Bat Pattern?I am shorting USDCAD (actually long CAD contract) based on longer term view of CAD, the .618 retracement of the drop friend the trendline, the completion of the AB=CD pattern (which went about 1 pip past stop loss, but where one could look to short at the 2.618 extension as well. There is also a cluster of fibs from different points in this range right here. Safer stops are above the 1.316 which I will consider depending on the price action at the time. Trade is already active and I would consider adding at 1.3127.
I will be watching the price at the 2 targets of the AB=CD pattern as well as the Bat completion points to decide whether to close my CAD longs and switch to short to trade the bat patter, close the position all together or stay in the trade.
