W33 - CADCHF dr 56

OVERVIEW

equal in:

• EURCAD

weakness of CAD in:

• AUDCAD
  
• CADCHF
• CADJPY
  
• NZDCAD
  
• USDCAD

strength of CAD in:

• GBPCAD

OVERALL FOCUS ON CAD: buy this currency
OVERALL FOCUS ON CHF: sell this currency
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WEEKLY:

Huge potential for correction. Also, the market could break, we're near the ATL.

2h:

Target levels missed slightly and started to correct multiple times. From there two failed attempts to build bullish structure. Currently in a very attractive area at the back of the correction zone.

30m:

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WHAT DO WE WANT?
We're hoping for an activation of a possible bullish sequence (cyan), because we currently don't have too much structure. On the other hand, we're just a little away from the destruction of what is remaining of the bulls, so we hope it doesn't leave the orange rectangle to the bottom. We can still trade it, although it seems a bit riskier.
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DECISIONS
risk vs. profit: (-- / - / 0 / + / ++): --

Remember, this trade is a speculation on a sequence that doesn't exist yet. If this sequence works, we got a very nice impulsive A, corrective B and as a result an impulsive C. The orange rectangle shows the key fighting area. Will the bears win?
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Neither the analysis described here, nor my updates are financial advice and should not be treated as such. They merely represent my ideas by applying the system I learnt from Stefan Kassing and are my interpretation of the system with certain tweaks.
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