Elliott Wave Analysis: Anticipating an Upward move in USDCAD
Hello Traders,
Trust you are great.
Below is my Elliott wave analysis of USDCAD currency pair
Analysis:
The structure of the USDCAD currency pair suggests the formation of an irregular Flat corrective pattern. The initial Wave A has taken the form of a leading diagonal, moving downward.
Current State:
Wave B appears to have completed its formation. The next expected movement is the formation of Wave C.
Expectation:
An impulsive Wave C is anticipated to move upward towards the 1.37445 - 1.38147 region before a subsequent decline.
Invalidation level for the upside projection: 1.3605.
Cheers!
Trust you are great.
Below is my Elliott wave analysis of USDCAD currency pair
Analysis:
The structure of the USDCAD currency pair suggests the formation of an irregular Flat corrective pattern. The initial Wave A has taken the form of a leading diagonal, moving downward.
Current State:
Wave B appears to have completed its formation. The next expected movement is the formation of Wave C.
Expectation:
An impulsive Wave C is anticipated to move upward towards the 1.37445 - 1.38147 region before a subsequent decline.
Invalidation level for the upside projection: 1.3605.
Cheers!
Kommentar:
The pair did just as predicted. It has done over 100pips so far.
Kommentar:
Now, reversal can occur any moment from now. Be on the lookout for confirming price action.
Cheers guys.
Cheers guys.
Kommentar:
USDCAD did +117pips.
Trade geschlossen: Ziel wurde erreicht
Kommentar:
UPDATE: Reversal to the downside supported by bearish Gartley. First target is 1.36720.
Kommentar:
UPDATE: After the completion of initial upward move, price dropped by +85pips just as predicted.
Elliott wave projection:
Harmonic projection:
Elliott wave projection:
Harmonic projection:
Let's see.