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October Seasonal Forex Paatterns

Daytrader21 Posted 1 Oct.  in #Trader's blog #AUD #JPY #Forex #Euro #Patterns #Pound #Probability #Seasonality

Since a new month has started the best way to asserts the probability of where the market is likely to be heading in this month is for us to look at the seasonality patterns. The seasonality cycles will bring in a new dimension in which you can analyse the market. Seasonality are a predictable change in price that repeats every day, week, month, year at the same period in time.
You can find more details how this seasonal patterns affect the exchange rate and more importantly how to correctly us…
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JuliaBF avatar
JuliaBF 1 Oct.

thanks for detailed analysis))))

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CAD/CHF Elliott Wave Analysis

Daytrader21 Posted 10 Nov. as Analysis on CAD/CHF, Target: 0.8680, Date: 2nd of January, 12:00 GMT  in #Technical analysis #Price Action #CAD/CHF #Elliott Wave #Probability #Downward Channel #Downside Momentum
The CAD/CHF currency pair does not form a major pair even though the swiss franc is considered a major currency, but over the past year it has provided many trading opportunities.
If we zoom in on a daily chart we can see that the downside movement started from 0.9540 high all the way down to 0.8520 low, over the last year has formed a downward channel that conforms with the Elliot Wave requirement of a five waves sequence, so as the down swing leg towards the 0.8520 low is the wave E for the do…
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Daytrader21 15 Nov.

Update 1: The market has barely moved and we are still in the 0.88-0.87 consolidation zone. Wave one is completed and from here on we should expect some kind of correction but we should not go below the strat point if wave 1, 0.8520 support zone in oder for our prediction to work out

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Daytrader21 22 Nov.

Update 2: We finally broke the 0.8700 support level and developed the wave 2, but we can still go all the way down to the starting point of wave 1, around 0.8520 zone. Expecting more consolidation ahead as based on Elliot Wave this stage of the price action is very slow

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Daytrader21 29 Nov.

Update 3: We're now testing the bottom of wave E which must hold in order for our analysis to be valid. So far the market in the last 3 days has failed to break below suggesting that buyers are coming in the market. This should be wave 2.The next resistance is around 0.8760

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Daytrader21 9 Dec.

Update 4: the fact that we broke below wave E 0.8500 level it has invalidated our strategy, however this week can be crucial if we can reverse the current downside momentum and close above 0.8500 it may turn into support level once again

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Daytrader21 14 Dec.

Update5: The current downside move has completed a five wave sequence and we already have sign that the market has bottomed at 0.8330. Next big resistance level is around 0.8500 round number here we should see some reaction but the momentum may carry on as it's year end flow.

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