EURUSD (spot)

This Forex pair once again completed an 11-month falling wedge (a diagonal pattern). Factor established a long position on Friday. I have low expectations for this trade – that could be a good sign. There is the potential for a significant bull trend based on the long-term chart.

Canadian Dollars (CME)

This discussion will bring Factor members back to Jun 2017. The advance in Mar 2016 violated a multi-year parabola. Following the initial rally from the violated parabola, the market corrected in the form of a 13-month channel. The completion of this channel in Jun 2016 produced a 785 BP trading profit for the Factor Tracking Account.

Another channel is forming in the C$. This is a diagonal pattern, so I am cautious. Keep in mind that long CAD futures (the value of the CAD expressed in USD) is the same trade as short spot USD/CAD (the number of CAD that can be purchased by one USD).  See the daily chart of futures and spot.

Factor Membership

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Peter Brandt is a 40+ year veteran of trading. Through his Factor Service, members receive:

Trading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book

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View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work.

Through the Factor Service I endeavor to alert novice and aspiring traders to the many pitfalls you will face – and to offer advice on overcoming those pitfalls. My goal is to shoot straight on what trading is all about. For more information watch my 30 minute webinar where we cover the Factor service in depth.

I hope you will consider joining the Factor community.

 

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