Loonie Resistance

A friend of mine Anil sent me his analysis on the Loonie and as it is worth considering I am updating the site with this. Unfortunately, I cannot use his original attachent as it is too small but I have reproduced it so you can see the daily chart below of the Loonie.

As most of you will know from previous posts on this pair, we have a divergence, we hit 0.618 fib level and TJE and currently on the weekly we have a candle reversal pattern. A trigger is required to enter this trade as we can see we have a 5 wave pattern but the PTI is not good so the accuracy and the validity of wave 4 is in question. Using the entry stop loss technique will allow for the entry to be triggered with momentum.

Hope all of you have taken good profits from yesterdays upate.

Thanks for your update Anil.


Chart courtesy of Advanced GET. Data provided by eSignal.

There is also an analysis below which was from earlier today which you can also read.