#1.3170

SELL USD/CAD 1.3137 TP1 1.3100 TP2 1.3075 STOPLOSS 1.3170

The post SELL USD/CAD 1.3137 TP1 1.3100 TP2 1.3075 STOPLOSS 1.3170 appeared first on CTCFM.

CTCFM

New Post has been published on http://u.to/2Ow_Dw

Commerce Concept : USD/CAD - Purchase at 1.3170

USD/CAD – 1.3254

Recent wave: Only wave v of c has ended at 0.9407 and wave C of major A-B-C correction is underway for headway to 1.4700

Trend:  Sideways

New strategy             :

Buy at 1.3170, Target: 1.3350, Stop: 1.3110

Position: –

Target:  –

Stop:-

As the greenback has risen again after brief pullback and price just broke above indicated resistance at 1.3248, signaling recent erratic rise has resumed and upside bias is seen for further gain to 1.3300, then towards 1.3350-60, however, near term overbought condition should limit upside to 1.3400-10, risk from there is seen for a retreat later. 

In view of this, would not chase this rise here and would be prudent to buy on pullback as 1.3160-65 should limit downside. Below 1.3130-35 would defer and suggest top is possibly formed, risk correction to 1.3090-00, break there would add credence to this view, then further fall to 1.3029-30 would follow but reckon support at 1.2999 would hold.

To recap, wave B from 1.3066 is unfolding as an a-b-c and is sub-divided as a: 1.2192, b: 1.2716 and wave c is a 5-waver with i: 1.1983, ii: 1.2506, extended wave iii with minor iii at 1.0206, wave iv ended at 1.0781 and wave v as well as wave iii has ended at 0.9931, hence the subsequent choppy trading is the wave iv which is unfolding as (a)-(b)-(c) with (a) leg of iv ended at 1.0854, followed by (b) leg at 1.0108 and (c) leg as well as the wave iv ended at 1.0674. The wave v is sub-divided by minor wave (i): 0.9980, (ii): 1.0374, (iii): 0.9446, (iv): 0.9913 and (v) as well as v has possibly ended at 0.9407, therefore, consolidation with upside bias is seen for major correction, indicated target at 1.3700 and 1.4000 had been met and further gain to 1.4700 would be seen later.

New Post has been published on http://u.to/2Ow_Dw

Commerce Concept : USD/CAD - Purchase at 1.3170

USD/CAD – 1.3254

Recent wave: Only wave v of c has ended at 0.9407 and wave C of major A-B-C correction is underway for headway to 1.4700

Trend:  Sideways

New strategy             :

Buy at 1.3170, Target: 1.3350, Stop: 1.3110

Position: –

Target:  –

Stop:-

As the greenback has risen again after brief pullback and price just broke above indicated resistance at 1.3248, signaling recent erratic rise has resumed and upside bias is seen for further gain to 1.3300, then towards 1.3350-60, however, near term overbought condition should limit upside to 1.3400-10, risk from there is seen for a retreat later. 

In view of this, would not chase this rise here and would be prudent to buy on pullback as 1.3160-65 should limit downside. Below 1.3130-35 would defer and suggest top is possibly formed, risk correction to 1.3090-00, break there would add credence to this view, then further fall to 1.3029-30 would follow but reckon support at 1.2999 would hold.

To recap, wave B from 1.3066 is unfolding as an a-b-c and is sub-divided as a: 1.2192, b: 1.2716 and wave c is a 5-waver with i: 1.1983, ii: 1.2506, extended wave iii with minor iii at 1.0206, wave iv ended at 1.0781 and wave v as well as wave iii has ended at 0.9931, hence the subsequent choppy trading is the wave iv which is unfolding as (a)-(b)-(c) with (a) leg of iv ended at 1.0854, followed by (b) leg at 1.0108 and (c) leg as well as the wave iv ended at 1.0674. The wave v is sub-divided by minor wave (i): 0.9980, (ii): 1.0374, (iii): 0.9446, (iv): 0.9913 and (v) as well as v has possibly ended at 0.9407, therefore, consolidation with upside bias is seen for major correction, indicated target at 1.3700 and 1.4000 had been met and further gain to 1.4700 would be seen later.

New Post has been published on http://u.to/2Ow_Dw

Commerce Concept : USD/CAD - Purchase at 1.3170

USD/CAD – 1.3254

Recent wave: Only wave v of c has ended at 0.9407 and wave C of major A-B-C correction is underway for headway to 1.4700

Trend:  Sideways

New strategy             :

Buy at 1.3170, Target: 1.3350, Stop: 1.3110

Position: –

Target:  –

Stop:-

As the greenback has risen again after brief pullback and price just broke above indicated resistance at 1.3248, signaling recent erratic rise has resumed and upside bias is seen for further gain to 1.3300, then towards 1.3350-60, however, near term overbought condition should limit upside to 1.3400-10, risk from there is seen for a retreat later. 

In view of this, would not chase this rise here and would be prudent to buy on pullback as 1.3160-65 should limit downside. Below 1.3130-35 would defer and suggest top is possibly formed, risk correction to 1.3090-00, break there would add credence to this view, then further fall to 1.3029-30 would follow but reckon support at 1.2999 would hold.

To recap, wave B from 1.3066 is unfolding as an a-b-c and is sub-divided as a: 1.2192, b: 1.2716 and wave c is a 5-waver with i: 1.1983, ii: 1.2506, extended wave iii with minor iii at 1.0206, wave iv ended at 1.0781 and wave v as well as wave iii has ended at 0.9931, hence the subsequent choppy trading is the wave iv which is unfolding as (a)-(b)-(c) with (a) leg of iv ended at 1.0854, followed by (b) leg at 1.0108 and (c) leg as well as the wave iv ended at 1.0674. The wave v is sub-divided by minor wave (i): 0.9980, (ii): 1.0374, (iii): 0.9446, (iv): 0.9913 and (v) as well as v has possibly ended at 0.9407, therefore, consolidation with upside bias is seen for major correction, indicated target at 1.3700 and 1.4000 had been met and further gain to 1.4700 would be seen later.

New Post has been published on http://u.to/2Ow_Dw

Commerce Concept : USD/CAD - Purchase at 1.3170

USD/CAD – 1.3254

Recent wave: Only wave v of c has ended at 0.9407 and wave C of major A-B-C correction is underway for headway to 1.4700

Trend:  Sideways

New strategy             :

Buy at 1.3170, Target: 1.3350, Stop: 1.3110

Position: –

Target:  –

Stop:-

As the greenback has risen again after brief pullback and price just broke above indicated resistance at 1.3248, signaling recent erratic rise has resumed and upside bias is seen for further gain to 1.3300, then towards 1.3350-60, however, near term overbought condition should limit upside to 1.3400-10, risk from there is seen for a retreat later. 

In view of this, would not chase this rise here and would be prudent to buy on pullback as 1.3160-65 should limit downside. Below 1.3130-35 would defer and suggest top is possibly formed, risk correction to 1.3090-00, break there would add credence to this view, then further fall to 1.3029-30 would follow but reckon support at 1.2999 would hold.

To recap, wave B from 1.3066 is unfolding as an a-b-c and is sub-divided as a: 1.2192, b: 1.2716 and wave c is a 5-waver with i: 1.1983, ii: 1.2506, extended wave iii with minor iii at 1.0206, wave iv ended at 1.0781 and wave v as well as wave iii has ended at 0.9931, hence the subsequent choppy trading is the wave iv which is unfolding as (a)-(b)-(c) with (a) leg of iv ended at 1.0854, followed by (b) leg at 1.0108 and (c) leg as well as the wave iv ended at 1.0674. The wave v is sub-divided by minor wave (i): 0.9980, (ii): 1.0374, (iii): 0.9446, (iv): 0.9913 and (v) as well as v has possibly ended at 0.9407, therefore, consolidation with upside bias is seen for major correction, indicated target at 1.3700 and 1.4000 had been met and further gain to 1.4700 would be seen later.

New Post has been published on http://u.to/2Ow_Dw

Commerce Concept : USD/CAD - Purchase at 1.3170

USD/CAD – 1.3254

Recent wave: Only wave v of c has ended at 0.9407 and wave C of major A-B-C correction is underway for headway to 1.4700

Trend:  Sideways

New strategy             :

Buy at 1.3170, Target: 1.3350, Stop: 1.3110

Position: –

Target:  –

Stop:-

As the greenback has risen again after brief pullback and price just broke above indicated resistance at 1.3248, signaling recent erratic rise has resumed and upside bias is seen for further gain to 1.3300, then towards 1.3350-60, however, near term overbought condition should limit upside to 1.3400-10, risk from there is seen for a retreat later. 

In view of this, would not chase this rise here and would be prudent to buy on pullback as 1.3160-65 should limit downside. Below 1.3130-35 would defer and suggest top is possibly formed, risk correction to 1.3090-00, break there would add credence to this view, then further fall to 1.3029-30 would follow but reckon support at 1.2999 would hold.

To recap, wave B from 1.3066 is unfolding as an a-b-c and is sub-divided as a: 1.2192, b: 1.2716 and wave c is a 5-waver with i: 1.1983, ii: 1.2506, extended wave iii with minor iii at 1.0206, wave iv ended at 1.0781 and wave v as well as wave iii has ended at 0.9931, hence the subsequent choppy trading is the wave iv which is unfolding as (a)-(b)-(c) with (a) leg of iv ended at 1.0854, followed by (b) leg at 1.0108 and (c) leg as well as the wave iv ended at 1.0674. The wave v is sub-divided by minor wave (i): 0.9980, (ii): 1.0374, (iii): 0.9446, (iv): 0.9913 and (v) as well as v has possibly ended at 0.9407, therefore, consolidation with upside bias is seen for major correction, indicated target at 1.3700 and 1.4000 had been met and further gain to 1.4700 would be seen later.

New Post has been published on http://u.to/2Ow_Dw

Commerce Concept : USD/CAD - Purchase at 1.3170

USD/CAD – 1.3254

Recent wave: Only wave v of c has ended at 0.9407 and wave C of major A-B-C correction is underway for headway to 1.4700

Trend:  Sideways

New strategy             :

Buy at 1.3170, Target: 1.3350, Stop: 1.3110

Position: –

Target:  –

Stop:-

As the greenback has risen again after brief pullback and price just broke above indicated resistance at 1.3248, signaling recent erratic rise has resumed and upside bias is seen for further gain to 1.3300, then towards 1.3350-60, however, near term overbought condition should limit upside to 1.3400-10, risk from there is seen for a retreat later. 

In view of this, would not chase this rise here and would be prudent to buy on pullback as 1.3160-65 should limit downside. Below 1.3130-35 would defer and suggest top is possibly formed, risk correction to 1.3090-00, break there would add credence to this view, then further fall to 1.3029-30 would follow but reckon support at 1.2999 would hold.

To recap, wave B from 1.3066 is unfolding as an a-b-c and is sub-divided as a: 1.2192, b: 1.2716 and wave c is a 5-waver with i: 1.1983, ii: 1.2506, extended wave iii with minor iii at 1.0206, wave iv ended at 1.0781 and wave v as well as wave iii has ended at 0.9931, hence the subsequent choppy trading is the wave iv which is unfolding as (a)-(b)-(c) with (a) leg of iv ended at 1.0854, followed by (b) leg at 1.0108 and (c) leg as well as the wave iv ended at 1.0674. The wave v is sub-divided by minor wave (i): 0.9980, (ii): 1.0374, (iii): 0.9446, (iv): 0.9913 and (v) as well as v has possibly ended at 0.9407, therefore, consolidation with upside bias is seen for major correction, indicated target at 1.3700 and 1.4000 had been met and further gain to 1.4700 would be seen later.

New Post has been published on http://u.to/vp85Dw

Commerce Concept Wrap-up: GBP/USD - Purchase at 1.3170 or promote at 1.3275

GBP/USD – 1.3187

Most recent candlesticks pattern   : N/A

Trend                                 : Near term down

Tenkan-Sen level                 : 1.3182

Kijun-Sen level                    : 1.3183

Ichimoku cloud top              : 1.3264

Ichimoku cloud bottom        : 1.3259

Original strategy :

Sell at 1.3265, Target: 1.3155, Stop: 1.3300

Position : –

Target :  –

Stop : –

New strategy  :

Sell at 1.3275, Target: 1.3155, Stop: 1.3310

O.C.O.

Buy at 1.3170, Target: 1.3270, Stop: 1.3135

Position : –

Target :  –

Stop : –

As cable has rebounded after intra-day brief fall to 1.3138, suggesting consolidation above this level would be seen and test of 1.3225-30 cannot be ruled out, break there would bring a stronger rebound to 1.3250 and then towards 1.3270 but price should falter below 1.3300, bring another decline later.

In view of this, whilst we are still looking to sell cable on subsequent rebound, we would also buy sterling on dips. Below said support at 1.3138 would signal the fall from 1.3445 top is still in progress and extend weakness to 1.3100 but reckon downside would be limited to 1.3087 (61.8% Fibonacci retracement of 1.2866-1.3445).