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Published March 13, 2007 A Day in the Life of... , Commodities , Currency , Into the Financial Markets , Investing , Stocks , The Way of the Sword , Trading , Uncategorized 6 Comments
The bearish candle seen on Friday 12 Jan was larger than normal, which is consistent with my view that this pair is starting a downleg.
I have initiated a short position on USD/CAD. This is based on the view that the market is at the top of the corrective rally, with Midas and Demark exhaustion supporting the sell trade. The Stop loss order has also been placed.
12M in upswing of range, and Demark exhaustion suggests that the range top should provide strong resistance; 13W in upswing, also approaching Primary Sell zone; 18D in upswing, with no trade setup
12M at range resistance; 13W in upswing of range; 18D in corrective downswing of bullsih trend, and is approaching Midas support.
12M in upswing within Range; 13W in downswing within Range; 18D in upswing within Range; this is a very confused FX pair!
12M is in impulsive downswing; 13W is in corrective upswing of a bear trend and is now at Midas resistance; 18D is in bullish trend, but has triggered a Change in Trend setup; this Change in trend is also supported by the aggressive version of Demark exhaustion
12M is at range resistance, and the Demark exhaustion suggests that resistance will be strong; 13W is also trading at the Primary Sell zone; 18D is in uptrend, but did not present a Change in trend setup
12M is in bearish trend; 13W is also in bearish trend, but is at Demark exhaustion; 18D is in bearish trend, but has no clear entry setup to support the 13W demark exhaustion.
USD/CHF week ending 29 Dec
Published January 1, 2007 Currency , Into the Financial Markets Leave a Comment
12M is in corrective upswing; 13W is in downswing with market probably trading within sideways Range; 18D is in downswing, trading within sideways Range. However, the dominant 13W timeframe has alternative possibilities that present uncertainties. Prefer to stand aside for now
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