Forex USD/CAD Daily Video, August 09, 2019

Sive Morten

Special Consultant to the FPA
Messages
13,531
Good morning,

While Gold market is still forming 4H DRPO "Sell", we could take a look at CAD:


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.
 

DymundMike

Recruit
Messages
2
Even prior to this video I've been curious why Sive never did an update on the USDCAD Bearish Engulfing candle on the monthly created this past January. He did an initial coverage on it but I never saw any follow up and don't think I missed it. It wasn’t mentioned here in this video either even though this trade would be in the same direction. Perhaps the recovery came too far back into the engulfing pattern, as it did retrace almost all of it. Just curious, thanks in advance for any response.
 

Sive Morten

Special Consultant to the FPA
Messages
13,531
Even prior to this video I've been curious why Sive never did an update on the USDCAD Bearish Engulfing candle on the monthly created this past January. He did an initial coverage on it but I never saw any follow up and don't think I missed it. It wasn’t mentioned here in this video either even though this trade would be in the same direction. Perhaps the recovery came too far back into the engulfing pattern, as it did retrace almost all of it. Just curious, thanks in advance for any response.
Yep, I remember this discussion of engulfing, I have even "R" marking on black candle as it was a reversal month. Indeed, now we have extension to the target of this pattern. I didn't mentioned it in the video, since, video is daily, tactical. We use text weekly updates to cover all time frames, starting from monthly, but we use videos for short-term setup and adjustments of trading plan that we've prepared in weekend.

This time I was have to involve weekly chart, because without it it would be problematic to understand the core of the trade.

Thanks for remind about monthly pattern.
 

DymundMike

Recruit
Messages
2
Thank you Sive, you are the best by far! I have been trading for almost 1/2 a century and still get more from your daily videos than any other source. I feel like I still learn something from each and every one of them - which is remarkable. The way you interpret the nuance of the market and relay them to us is second to none. I am actually concerned that when you retire or stop I will not be profitable. Thanks again for all you do.
 
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