Sunday Sept. 16; 6:00 pm EST (3:00pm Pacific)
Scaled in buying has appeared slowly in the USDCAD currency pair beginning last Wednesday Sept 12, confirming my forecast on this Market posted last week. To observe this scaled in buying simply go to your Daily Chart and pull up the CCI Indicator on the bottom pane. Observe the smooth CCI incline beginning last Wednesday as this Market drops. Often, when this happens, the Market will continue to drop as the CCI bars ride up to the “0” line. A safer place to be a buyer with this indicator is above the -100 line as CCI bars near the “0” line. Beware however of a possible “0” Line rejection. Always keep in mind that ANYTHING can happen. This is just one of a few indicators that I use to confirm a position. Primarily I am watching (1) William’s %R (2) MVA moving volume averages (3) price cloud differential (4)John Crane’s Reversal Day Indicator and (5) William Gann’s Square of Nine for price targets. Stay tuned, as I will be posting regularly concerning this Market.