$USDCAD: Lagging oil...

8 באוק׳ 2021

I plotted inverse oil here vs USDCAD, it seems there's a nice opportunity for a big short to close that spread. I'm long CADJPY and short USDCAD from earlier today, now made some time to post the weekly signal in USDCAD, which is cooking here. If price breaks 1.24603, a weekly down trend with a target @ 1.16536 will be active, predicting a 18 week decline is setting up. Stop loss for this setup should be a bit above the light red horizontal line on chart.

Best of luck,

Cheers.

Ivan.

8 באוק׳ 2021

עסקה פעילה

11 באוק׳ 2021

הערה

This one isn't doing much yet, action in the Yen is surpassing that in the CAD, oil moved up but CAD once again under performing it today...I'm holding and waiting.

12 באוק׳ 2021

הערה

Holding USDCAD...

13 באוק׳ 2021

הערה

13 באוק׳ 2021

הערה

14 באוק׳ 2021

הערה

Daily target hit:
Weekly is still valid, so, holding it...

14 באוק׳ 2021

הערה

I correct myself, the big signal here is in the monthly timeframe, not weekly.
The local weekly trend is smaller, and part of the swing from the last top 8 weeks ago.

Here it is in monthly scale, in all its glory, plotted vs inverse oil.

14 באוק׳ 2021

הערה

4 more weeks to go before consolidation in weekly scale. (this can trigger a monthly signal, which might justify holding it)

15 באוק׳ 2021

העסקה בוטלה באופן ידני

Banked it here, will wait for a new daily set up to rejoin, the weekly trend is active, monthly not yet. Oil daily trend expires in 1 day, some consolidation in oil related names is possible.

21 באוק׳ 2021

הערה

It did go lower so far, didn't give me a chance to rejoin.

27 באוק׳ 2021

עסקה פעילה

Back in the saddle, again. I mean, continuation signal.

11 בנוב׳ 2021

הערה

The long signal that popped later worked, after the short was stopped out again. I didn't update this here, my bad. I did trade it, but caught half the move only. Tricky moves lately.