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"Everyone chooses his own path. And the more obvious the goal, the easier the path."
Good morning, dear colleagues.
As always with you, Sergey Denisov and the forecast for the likely movement of the USD / CAD currency instrument.
"Today, the forecast for WTI oil is expected - do not miss it! "
This forecast for the current trading week of January 27-31, 2020 will be the main : the goals and possible ways to reach them will be relevant for at least a week. Moreover, all subsequent forecasts will be derived from this forecast and lead us to the "cherished goal" in the form of profit.
The USD/CAD trading instrument is a very good friend for me personally! Developing its strategic levels by so much has a high percentage that reaches as much as 95%, which I sometimes doubt that you can get losses with USD / CAD in general.
Well, let's take a look at the past trading week of January 20-24, 2020. The instrument traded in different directions, the maximum volatility * was about 45p which was boring. But then suddenly, on Wednesday, January 22, the sharp rise in the dollar led to several certain "elements" at once: a strategic level has formed, which I love to develop, and the local maximum was updated on the impulse and even tested on Friday, which did not indicate a "true breakthrough" level. And thus, the trading week ended, which posed a quite difficult task for us: how to develop the level if the breakdown is still true?
Well, let's try to find a solution to this problem. The forecast for the current week, January 27-31, 2020, sounds something like this: SELL priority ** with a target at the strategic level of 1.3060 after some growth in the area of either 1.3200 or 1.3260. I understand, colleagues, that there is too much difference between the probable entries for sale, but, believe me, this is not the impulse. The fact is that I will try to justify everything now:
1. I have set the sell priority due to the formation of the strategic level 1.3060.
2. There is also a large open interest and large volumes of traded orders under option contracts at the level of 1.3060.
3. The big difference between the probable levels of market entry is due to resistance levels that are perfectly visible on the chart, as well as there is a lot of open interest and large volumes at these levels, especially at the level of 1.3260.
Thus, I hope that my justification of the "SELL" priority after the probable growth has satisfied you dear colleagues.
Dear colleagues, please follow the publication of forecasts on USD/CAD during the trading week, so as not to miss anything important and ultimately get a profit!
IMPORTANT!!! I will publish the reflections on the macroeconomic analysis of several trading instruments on January 28. Do not miss it!
Volatility* is a characteristic of the movement of a trading instrument, which, first of all, reflects the strength of the change in the value of a given instrument.
SELL priority** is the trader's predominant desire to take a short position*** relative to their trading asset.
A short position*** is a position that a trader has opened for profit solely as a result of a decline in the price of his asset.
IMPORTANT: Remember that you should enter the market exclusively by patterns - by graphic patterns that are often repeated on the market, as a result of which there is a certain pattern of price behavior in the future.
In my trading, I use patterns consisting of candlestick analysis and volume analysis. One of my favorite patterns is updating local extremes on a sharply increasing volume, followed by testing up to 50% -61.8% Fibo.
Thank you for your attention, dear friends.
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