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  1. #1
    Legendry Member willyw's Avatar

    USD/CAD Weekly - Moved !!!

    Hi members, I have started a new thread for techncial analysis

    My new thread for my technical analysis is http://forums.binaryoptionsthatsuck....nical-Analysis


    USD/CAD WEEKLY as of Tuesday, 05 February, 2013
    John Murphy Chart Pattern Recognition (CPR)
    A Descending Triangle pattern formed indicating a possible trading opportunity. A Descending Triangle is bearish. It is usually (but not always) preceded by a downtrend. The probabilities favor a continuation of the prevailing trend. Front-runing a confirmed breakout signal may place a sell-stop for entry at 0.9158
    An Inside Week Narrow Range was detected by Elliott Waves High Volatility on 04/02/13. This is usually a trade set-up opportunity and as the trend is bearish, place a buy-stop at one tick below 1.00 and a sell-stop at one tick above 1.00.
    The present wave patterns are:
    fast amplitude (8%): bullish wave 2
    Attached Thumbnails Attached Thumbnails cad-cpr-w.jpg   cad-wave-w.jpg  

  2. #2
    Senior Member LeeChang's Avatar
    I am also interested in USD/CAD pair but it looks like it is in a big multi month range and is not heading south. Probably there are some bullish signs I think. Where did you see this “sell-stop for entry at 0.9158” ?? It is somewhere very very low in respect to the price now?

  3. #3
    Legendry Member willyw's Avatar
    Quote Originally Posted by LeeChang View Post
    I am also interested in USD/CAD pair but it looks like it is in a big multi month range and is not heading south. Probably there are some bullish signs I think. Where did you see this “sell-stop for entry at 0.9158” ?? It is somewhere very very low in respect to the price now?
    Leechang, the price of 0.9158 is the confirmation of the full decending triangle been formed in the weekly chart. It is the long term forecast, after which the decending triangle is completed a new formation will take place. My apologise to distract you, I will in due cours post some short term view of the usd/cad.

  4. #4
    Veteran Member uj.forex's Avatar
    It's a commodity currency, I don't like trading it... Because even if the U.S data comes good, you cant expect the CAD to go down because that data might be good for Canada too...

  5. #5
    Legendry Member willyw's Avatar
    USD/CAD DAILY as of Thursday, 07 February, 2013
    A Daily white body has formed (because prices closed higher than they opened).
    For the past 10 Daily candlestick bars as of 06/02/13, there are 6 white candles versus 4 black candles with a net of 2 white candles.
    For the past 50 Daily candlestick bars as of 06/02/13, there are 26 white candles versus 23 black candles with a net of 3 white candles.
    A Daily long upper shadow has formed. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).A Daily spinning top has formed (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action as defined by the difference between the open and the close. During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
    Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for US Dollar / Canadian Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4.
    An Inside Day Narrow Range was detected by your Elliott Waves High Volatility on 06/02/13.
    The present wave patterns are:
    fast amplitude (8%): bullish wave 2
    Target Price Projection**
    Having reached a Daily top 7 period(s) ago at 1.0100, prices are currently moving downwards.
    TARGET 1: 1.0005 (Moderate Retracement)
    TARGET 2: 0.9946 (Extension)
    TARGET 3: 0.9851 (Extension)
    Time ProjectionTime Projection is the number of period(s) projected the current trend retraces at vulnerable retracement levels.
    Projected Time: 7 period(s) (Moderate Retracement)
    Projected Time: 12 period(s) (Extension)
    Projected Time: 19 period(s) (Extension)
    Projected Time: 24 period(s) (Expansion)
    Projected Time: 31 period(s) (Expansion)
    Today there is a possiblity that USD/CAD would retrace intraday and continue it downward move. If catching on the intraday retracment, long USD/CAD with target focusing around 0.9980 with stop loss at 0.9927
    Attached Thumbnails Attached Thumbnails cad-candle-d.jpg   cad-wave-d.jpg  

  6. #6
    Legendry Member willyw's Avatar
    USD/CAD DAILY as of Wednesday, 13 February, 2013
    A Daily black body has formed (because prices closed lower than they opened).
    For the past 10 Daily candlestick bars as of 12/02/13, there are 6 white candles versus 4 black candles with a net of 2 white candles.
    For the past 50 Daily candlestick bars as of 12/02/13, there are 26 white candles versus 23 black candles with a net of 3 white candles.
    A Daily engulfing bearish line has formed (where a black candle's real body completely contains the previous white candle's real body). The engulfing bearish pattern is bearish during an uptrend (which appears to be the case with US Dollar / Canadian Dollar). It signifies that the momentum may be shifting from the bulls to the bears.
    If the engulfing bearish pattern occurs during a downtrend, it may be a last engulfing bottom which indicates a bullish reversal. The test to see if this is the case is if the next candle closes above the bottom the current (black) candle's real body.
    Elliott Waves High Volatility has detected a possible point 4 of a WolfWave (21%) pattern for US Dollar / Canadian Dollar. This pattern is an expanding triangle and trades from the next point. When the peak or trough will form, usually after crossing or touching the extended line of points 1 and 3, the price will move in the opposite direction towards the target line formed by the extension of points 2 and 4. The estimated target price is 1.55.
    The present wave patterns are:
    fast amplitude (8%): bullish wave 2
    There is a double top formation formed and current prices are near the second top. Trading have to be cautious. I would prefer to wait for breakouts to enter a trade, breaking the top at 1.0100 or breaking the bottom at 0.9950

    Attached Thumbnails Attached Thumbnails cad-candle-d.jpg  
    Last edited by willyw; 02-13-2013 at 06:33 AM. Reason: Wrong info

  7. #7
    Legendry Member willyw's Avatar
    USD/CAD WEEKLY as of Monday, 18 February, 2013
    An Inside Day Narrow Range was detected by your Elliott Waves High Volatility on 15/02/13. This is usually a trade set-up opportunity.
    The present wave patterns are:
    fast amplitude (8%): bullish wave 2
    The most recently confirmed down trendline for US Dollar / Canadian Dollar has an ending point currently at 1.02. Expect prices to have some difficulty rising above this trendline. A break above this trendline would be a bullish sign.
    Long USD/CAD with target at 1.0096 and stop loss at 0.9967
    Attached Thumbnails Attached Thumbnails cad-candle-w.jpg  

  8. #8
    Legendry Member willyw's Avatar
    USD/CAD WEEKLY as of Monday, 25 February, 2013
    A Weekly big white candle has formed. This is a bullish candle as prices closed significantly higher than they opened. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off a support area (e.g., a moving average, trend line, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
    For the past 10 Weekly candlestick bars as of 22/02/13, there are 7 white candles versus 3 black candles with a net of 4 white candles.
    For the past 50 Weekly candlestick bars as of 22/02/13, there are 28 white candles versus 22 black candles with a net of 6 white candles.
    Three Weekly white candles has formed during the last three Weekly bars. Although these candles were not big enough to create three Weekly white soldiers, the steady upward pattern is bullish.
    US Dollar / Canadian Dollar closed above the upper Bollinger Band by 20.5%. Although prices have broken the upper Bollinger Band and an upside breakout is possible, the most likely scenario is for the current trading range that US Dollar / Canadian Dollar is in to continue but the Bollinger Bands are 54.40% narrower than normal. The narrow width of the Bollinger Bands suggests low volatility as compared to normal range. Therefore, the probability of volatility increasing with a sharp price move has increased for the near-term. The Bollinger Bands have been in this narrow range for 13 period(s). The probability of a significant price move increases the longer the Bollinger Bands remain in this narrow range.
    Having reach a Daily bottom 11 period(s) ago at 0.9936, prices are currently moving upwards.
    TARGET 1: 1.0112 (Target Reached)
    TARGET 2: 1.0220 (Target Reached)
    TARGET 3: 1.0396 (Fibonacci Extension)
    TARGET 4: 1.050 (Fibonacci Expansion)
    Est. Projected Time: 15 weeks
    Est. Projected Time: 18 weeks
    Est. Projected Time: 24 weeks
    Attached Thumbnails Attached Thumbnails cad-candle-w.jpg  

  9. #9
    Legendry Member willyw's Avatar
    USD/CAD WEEKLY as of Monday, 04 March, 2013
    A Weekly white body has formed (because prices closed higher than they opened).
    For the past 10 Weekly candlestick bars as of 01/03/13, there are 7 white candles versus 3 black candles with a net of 4 white candles.
    For the past 50 Weekly candlestick bars as of 01/03/13, there are 28 white candles versus 22 black candles with a net of 6 white candles.
    Three Weekly white candles has formed during the last three Weekly bars. Although these candles were not big enough to create three Weekly white soldiers, the steady upward pattern is bullish.
    Elliott Waves High Volatility has detected a Gann Swing or Pullback that is usually a bullish pattern.
    US Dollar / Canadian Dollar broke above the down trendline at 1.03 on Friday. This is a bullish sign. This down trendline, currently with an ending point at 1.02, may now provide downside support. Prices having only risen 0.00% since the breakout, the validity of the breakout is questionable.
    USD/CAD BUY ON DIP; look for buying opportunities around 1.0206 level
    Attached Thumbnails Attached Thumbnails cad-candle-w.jpg  

  10. #10
    Active Member rongold's Avatar
    Thank you willyw for commenting this not so often traded pair! I just read a paper, which described that a lot of hedge funds are betting against the CAD as they expect some easing policy to take place and make canadian dollar not so attractive for long term investors.

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