6C1! trade ideas
CAD completed 382 correctionCAD futures has completed a 382 pullback from its impulse wave. Looking at the 4 hour chart now for a long once a more bullish picture emerges
Cad is holding strength The daily chart is showing cad has strength over dollar so I will only long also the one hour chart showed cad gaining strength and crossed over dollar so I will look to long if things go south I will look for a small sl
Cad risingThis is a weekly chart, cad has broken out of downtrend, last time this happened it went up 11% in 3 months. Short USD/CAD.
Selling CADAlgo alerted me of a nice possible bearish set up, im going to take this trade as a hedge against my dollar shorts
Canadian Dollar head and shouldersDecember Canadian Dollar head and shoulders last shoulder developed. Fall below pivot at .75405 may indicate a drop to S2 .74805, minimum height of last shoulder.
Canadian Dollar Futures BullishThe 6C Daily time frame broke the down trend
line and created an up fib extension price point
0.77035 about +279 Ticks away.
Impulsive Waves Construction - Part 3 (02)02)This chart corresponds to the second chart of our educational aticle "Impulsive Waves Construction - Part 3".
Impulsive Waves Construction - Part 3This chart corresponds to our educational aticle "Impulsive Waves Construction - Part 3".
Big Head and Shoulders in Monthly Canadian Dollar ChartThe monthly chart of the Canadian Dollar futures (continuous: current month) shows a giant head-and-shoulders with resistance at the 60-month moving average (low).
Canadian Forex Analysislooking at the daily chart of the canadian futures index (D61!) price is at daily supply so any shorts would be counter trend based on the index chart but maybe not on the pairs.
June Canadian Dollar Three DrivesWe may have a Three Drives scenario with Jun CAD. USD was looking like a Head and Shoulders this past two weeks. CAD caught in sideways action. S1 at .74545 would become support for this move. Could also use S2 at.74090. Will have to wait and see.
Broken neckline of head and shouldersTarget is value area low. Would ideally see ABC and be able to fade B down to C.
Short bias but only scalping since must be wary of a pullback since it's not clear where A is on the chart.
Once a big green bar forms it will be much easier to project the location of B and be more aggressive with shorts.
LONG CADMajor rally overnight on the euro, which means USD is weaker. good for cad. Oil was very bullish yesterday on DOE, if oil rallies, CAD will follow
SHORT CADShorting CAD on oil being lower over night, great place to short with a clear stop loss above the high of the day
Gonna watch out for DOE or any rally on oil before DOE to GTFO of the trade
Canadian Dollar Futures Short 4.7:1 RRGood supply level in the CAD futures offering 4.7:1 RR - set and forget
