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FALSE BREAKOUTS- USD CHF, EURO USD

DaddyPapi Posted 1 Apr.  in #Trader's blog #Consolidation #Breakouts #Correlation #Inverse
The inversely correlated pairs of the EURO USD and the USD CHF are at interesting crossroads. On their respective Daily Charts, we see that both had broken Support and Resistance boundaries that pointed to sharp and fast breakouts bullish for the Euro and bearish for the CHF. However, after pulling back and moving sideways, both appear poised to reverse inside of their large Pennant Setups.
EURO USD- DAILY CHART

We could be seeing a temporary bullish move to test the broken resistance before a …
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Convallium avatar
Convallium 2 Apr.

Thank you, good job DaddyPapi!

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TRADE THEM NOW- EURO CAD & CAD CHF

DaddyPapi Posted 19 Feb.  in #Trader's blog #Breakout #Consolidation #Correlation #200 Pips #4H Stop Loss
Once again, we have an opportunity to trade two currency pairs simultaneously to take advantage of the strong correlation that exists between them. In this case, the CAD CHF and the EURO CAD could be given us strong signals on the Daily Chart that point to gains of several hundred pips by next week.
The correlation between them was shown in one of my previous posts and this current setup today will be another one to provide pips trading them together. Both formed Consolidations on their respecti…
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TWO TRADES, TWICE THE FUN

DaddyPapi Posted 11 Feb.  in #Correlation #Counter Trend Line #Daily Chart #200 Pips
Simultaneous trading opportunities can arise when we have two or more pairs that are strongly correlated with each other. The EURO CAD and the CAD CHF are two such pairs that are inversely correlated with each other, with similar patterns that allow you to benefit from signals and major movements in each. The Weekly Charts for both below illustrate this close co-movement as well as a recent 200-pip move for each that occurred when both broke their respective Counter Trend Lines on January 22,…
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Setups for AUD CAD, CAD JPY

DaddyPapi Posted 13 Dec.  in #Trader's blog #Correlation #Signals #Setups #Weekly Range
AUD CAD

Aussie Canada (AUD CAD) has recently broken the Support of the Daily Chart´s Pennant, indicating the continuation of the bearish trend. This would be similar to the downtrends that have already taken place on the correlated pairs of AUD USD and AUD NZD.
Right now, the 4H Chart is moving sideways between Resistance and Support lines 0,9520 and 0.9490 and a break of this area will be a signal for me to sell. Target would be at the 0,9200 area just above major Support of 0,9167 formed on …
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