Jakesvanzyl

Jakesvanzyl

This pair is oversold doesn't matter where you look and we are now at a lot of support levels Also note the divergence on this trade......

Jakesvanzyl

The USDCAD is in a nice downward channel and we are on the upper end of the channel after 2 strong days of bulls. Also note the EMA50 giving resistance it is highly unlikely that we will see the 1.32 level soon

Jakesvanzyl

On the daily there are some interesting things happening; What counts against the trade is the EMA50 was broken with a serious bull candle but the 0.618 Fib level is being respected. Pro's There is a clear up channel break and it is text book trading on the Weekly candles. Set SL at 147.500 and there is a lot of protection; 2 Major Fib levels and the down...

Jakesvanzyl

Note how the daily candles are respecting the EMA50 and also testing the upward channel after the break. There is enough protection to go with this trade... Also note the divergence on the H4

Jakesvanzyl

Gold almost did a perfect FIB retracement and is now showing some weakness again, down we go. Also note the EMA50 is holding strong.

Jakesvanzyl

Take note how a very good looking head and shoulder pattern is being completed. Expect a retracement to the 0.76 level (if it goes that far up) and then expect the H&S pattern to be completed after that..........

Jakesvanzyl Updated 

Take note how a close below 111.7 today will break the EMA50 and the upward trend line. Expect a bear rally when this happens. Also note on the Weekly how we are overbought, the EMA50 is also holding; Be careful of the 109 level it will give a lot of support.

Jakesvanzyl Updated 

We are bouncing the 0.5 Fib levels and the stochastic is under some heavy pressure. Ont the H4 we also note the Stochastic is in a overbought state. On the weekly we are bouncing the 0.618 Fib level. And this is the one I just love..... The EMA50 is aligning with the 0.775 level giving nice protection. Also note the strong down trend on this pair. CADCHF