At the beginning of 2016 we have closed the main part of Weekly of the transaction on strengthening of the American dollar to Canadian and have opened medium-term short positions. Long traded in this direction - opened both week, and day positions, including the movement for priority down. Today quotations of USD/CAD have approached very important levels about which couple, perhaps, will be defined whether to continue this descending trend or again to return to ascending.
Month. April is closed by the large descending candle, but at the strong level - area of 76-78% fibo from the last strengthening of Month. At such levels it is always possible to count if not on a turn then on essential correction. If May is closed at the levels close to current, then such candle will speak about a potential turn, and it is possible that following the results of closing of May we will see a trade signal of Month. But while there is no it, it is possible to operate transactions in a taymfreyma not above Weekly.
Week. The last week of April (from 24.04.16) - descending, but the size its small that speaks about possible delay of decrease. This week precisely at the level of 76-78 fibo was closed by Month. The week following her has updated of 01.05.16 a minimum about the specified supports and was closed by the large ascending candle, by the size much exceeding previous - the model reminding bull absorption. And it means that from this point any day signals in Bai not only are actual, but also have prospect to pass into larger time-frame.
Daily. In day scale we see Woolf's Wave, and the second, main, the purpose on this model coincides with day 200-periodny moving average. Trading day is closed on May 12 by potentially turning candle. Above her maximum it is possible to open transactions on strengthening of the American dollar to Canadian to a main goal till Centuries. It is possible to leave small part on prospect in case on the scale of weeks or months the movement will continue.
Recommendations:
Long positions
(a) above a maximum of Thursday May 12, a main objective about 1,314.
Intermediate it is possible to take about a maximum of May 9 or on any H4 a turn.
(b) If the model of potentially turning bar doesn't fulfill in Long, then to look for long on any other turning D1 model from subordinate levels, isn't broken Centuries yet.
Short positions
(c) carefully when fixing lower than 1.283 - to area of support of about 1,275 or lower supports about 76-78 fibo.
On equipment long positions look more in priority. Share indexes try decrease that promotes fall of quotations of raw assets, and, therefore, and oil. The only thing that against long positions on USD/CAD, is that oil doesn't show decrease yet. But at all this I prefer to be guided by technical signals. Because in practice I was convinced in truth of the main postulate of Dow more than once - "the price considers everything". In technical signals opinions of all significant participants of the market and all possible influencing factors including those which aren't published in news lines are put. We have trade day signals for both directions, we can act on them, leaving and increasing a position in that direction which will be confirmed in higher taymfreyma.
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