Forex channel breakouts are one of the best trading strategies a Forex trader could hope for. The chart above is a daily one for the AUDCAD (Australian Dollar against the Canadian Dollar), so every candle represents an entire day of price action. The chart goes from eary December of 2015 through July of 2017. In […]
Those who know me know that I am a huge fan of trendfollowing. The USDCAD is in a definite downtrend that has confirmed itself in no uncertain terms. It has pierced the inner trend line, and is making a break through the Ichimoku kumo (cloud), the blue shaded area. Time to put some money on […]
The EURJPY is giving a sell signal after a fairly long period of bullish activity. It’s far above the channel it had been following for an even greater period, breaking out of it around the French Elections. Yen weakness since has also helped drive this pair up, but it’s been in consolidation and has now […]
After the very lucrative last two weeks of shorting the EURCAD, it seems to have gone down as far as it’s going to and is looking like a nice opportunity for a long, as it bounces off support and starts looking for the trend line above current price, or even better, the resistance level far […]