USD/CAD Daily Video, September 30, 2014

[Sive Morten]

Good morning,

While we're waiting for reversal patterns on Cable - let's take a look at CAD. It provides most clear setup right now among other majors:





The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Bro79]

Good morning Sive
Thanks for your analysis , I have two questions.
1) can we place a short trade if on the 1h time frame the market close under 1.1132 ? so the butterfly will no be valid anymore so the target will be the retracement that you said and stop just above the previous high.
2) or if we have any good sign of the up trend can we buy and put take profit at the daily target and stop just below 1.1132? In this scenario we will see the butterfly.
Anyway thanks for the help that you provide everyday.

 

[Sive Morten]

Good morning Sive
Thanks for your analysis , I have two questions.
1) can we place a short trade if on the 1h time frame the market close under 1.1132 ? so the butterfly will no be valid anymore so the target will be the retracement that you said and stop just above the previous high.
2) or if we have any good sign of the up trend can we buy and put take profit at the daily target and stop just below 1.1132? In this scenario we will see the butterfly.
Anyway thanks for the help that you provide everyday.

Yes, theoretically both scenarios are acceptable. But with first scenario it will the question of risk/reward ratio, since stop will be rather far... As you can see second one is in progress right now.

 

[mzarimi]

Good morning Sive,

Thank you for your post. I always looking forward on your analysis and give me an idea to trades.

 

[Bro79]

When there was a break out I took a trade this morning second scenario , target hit at 13:30 with the news.
Know I waiting and looking for a good sell signal.
Thanks Sive