Elliott Wave Analysis: Anticipating an Upward move in USDCAD
Diupdate
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!
Komentar
UPDATE: Invalidation area adjusted. Idea still appears valid.Let's see.
Komentar
The pair did just as predicted. It has done over 100pips so far. Komentar
Now, reversal can occur any moment from now. Be on the lookout for confirming price action.Cheers guys.
Komentar
USDCAD did +117pips.Trading ditutup: target tercapai
Komentar
UPDATE: Reversal to the downside supported by bearish Gartley. First target is 1.36720.Komentar
UPDATE: After the completion of initial upward move, price dropped by +85pips just as predicted.Elliott wave projection:
Harmonic projection:
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