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USD/CAD Cycle has ended

Daytrader21 Posted 18 Oct. as Analysis on USD/CAD, Target: 1.2589, Date: 1st of December, 12:00 GMT  in #Technical analysis #USD/CAD #Elliott Wave #Usdcad #Psychological Number #Abc Correction
Based on the Elliott wave analysis the 5 wave cycle in USD/CAD has completed and we're in the process of correcting the entire cycle started from 2012 low. Wave V of the bigger cycle has been completed at around the round number 1.3400. Right now we're in the process of developing wave A of an ABC correction pattern that will take place over the next few months.
Major Levels to watch:

[list][/list]…
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Daytrader21 25 Oct.

Update 1: Unfortunately this pair has retrace way too much from the 1.2800 levels and it may be the case we're running out of time to reach 1.2500 in which case we may assume my forecast is wrong.

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Have No Fear Daytrader21 Is Still Here:)

Daytrader21 Posted 18 Sep.  in #Trader's blog #USD/CAD #Interest Rates #Fed
Last 48 hours have been very intense in the financial markets as everyone on this planet was waiting for the FED to deliver its monetary policy. As expected the FED kept on hold its monetary policy keeping the rates for another month at historical low levels. Now, that's not a new story, however they way Fed has decided to handle this decision is utterly BS as they have prepared the market for such a long time for a rate hike and now they keep delaying it and there are strong speculation they th…
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USD/CAD Short Trade

Daytrader21 Posted 3 Sep.  in #Trader's blog #USD/CAD
After more than 24 hours when USD/CAD was moving nowhere and was trading inside a tight consolidation zone it finally broke to the downside as I was expected. I'm already up +60 pips and if it reaches my predefined target my equity balance should be around 60k. I'll only need one more trade of +100 pips and i'll BE again. My goal would be to play it safe until I'll bring my account back to BE.
I'm confident I can achieve my goals I only need to exercise patience.
Best Regards,
Daytrader21
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USD/CAD Trapped Between Two Round Numbers

Daytrader21 Posted 30 June as Analysis on USD/CAD, Target: 1.2388, Date: 3rd of August, 12:00 GMT  in #Technical analysis #USD/CAD #Range #Round Number #Seasonality Cycle #Psychological Numbers
Since the summer trading has begin the market has started moving inside some consolidation as the trading activity has chased away. We can tell that the current range is between two big round figures and psychological numbers: 1.2500 current top of the range and resistance and 1.2000 current bottom of the range and support level(see Figure 1).
Important level to watch:
  • 1.2000 = Support, Big round number and psychological numbers;
…
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Daytrader21 10 July

Update 1: So far USD/CAD has not been following the seasonality pattern and instead we had another run towards previous swing high at 1.2700. However taking in consideration the seasonal cycle we may assume there is less upside to follow and we should expect some retracement.

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USD/CAD - Stop Hunting

Daytrader21 Posted 6 June  in #Trader's blog #USD/CAD #Seasonality #Momentum #Stop Hunting #London Session #New York Session
Even thought USD/CAD PA is suggesting that we may be developing a swing high in place which is also supported by the seasonality cycle, you can read more about the seasonality tendencies of USD/CAD here: Jun FX Seasonal Pattern
USD/CAD has a strong pattern to sell of during the month of Jun, weakness that caries on all the way through July where we establish a major bottom. However despite this I took a long trade based on the short term PA, because I had the momentum in my favor. Also the timin…
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USD/CAD Bullish Flag

Daytrader21 Posted 15 Apr. as Analysis on USD/CAD, Target: 1.2711, Date: 1st of June, 12:00 GMT  in #Technical analysis #USD/CAD #Usdcad #Bullish Flag #Demand And Supply #Liquidity Hunt
USD/CAD has been trading inside a wide range formation since beginning of the year, forming a bullish flag pattern (see Figure 1) which points for further gains once we break the 1.2830 resistance level. However first we need to clear the stops below current 1.2350 support level. This support level has been hit for just too many times and it's a warning that before to go up we must have a false
breakout to the downside to suck in seller and to wipe out the long weak hands.
Figure 1. USD/CAD W
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Daytrader21 18 Apr.

Update 1: As expected we managed to break below the big support level of 1.2350 as per my prediction, and coincidence or not we stopped right at the area highlighted by me in Figure 2. Now we should see the market return back inside the big range

VALTRAD avatar
VALTRAD 18 Apr.

Очень интересно, придётся исследование провести, копнуть глубже. А на истории похожие паттерны встречались? Зерно сомнения про поход вниз посеяно.

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Daytrader21 2 May

Update 2: So far this pair has been moving as per my plan. Now we need a retest of former support level at 1.2400. At first this will produce a minor reaction but the momentum should keep pushing to the upside and ultimately to see this pair trading back inside 1.2400-1.2800 range

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Daytrader21 9 May

Update 3: We're still consolidating inside a wide range between 1.2200-1.1950. We need a break above the upside resistance in order for it to gain more upside momentum.

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Trades Recap

Daytrader21 Posted 10 Jan.  in #Trader's blog #GBP/JPY #Yen #USD/CAD #Trades #USD/SGD
Since it's weekend I thought I have some more time to speak about the trades taken in the first week of the year. During this time period I have been focusing more my attention on the yen pairs as based on my analysis they should have entered in some type of correction mode, you can find more about my analysis on the YEN here: USD/JPY Elliott Wave Cycle Completed
Apart from that I took two small intraday position on USD/CAD and USD/SGD. The reason why this where not swing positions was because t…
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P3tr4 10 Jan.

good luck, quality over quantity

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USD/CAD 750 Pips Profits Since This Summer

Daytrader21 Posted 16 Oct.  in #Trader's blog #Volatility #USD/CAD #Elliott Wave #Correction #Upward Channel
In this blog post I'm going to reproduce my analysis on USD/CAD. I've made this forecast this summer and my first target, above previous swing high 1.1300, was hit generating a nice 750 pips profit.
Here is what I had to say about USD/CAD back than: USD/CAD Uptrend Losing His Steam
"The current USD/CAD bullish trend is losing his momentum suggesting we have entered in a more prolonged type of correction especially since we have entered during the summer trading conditions, when volatility…
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VictoriaVika 16 Oct.

Best of luck today! (Yesterday in past) :)))

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USD/CAD Uptrend losing his Steam

Daytrader21  in #Technical analysis #Trader's blog #Volatility #USD/CAD #Elliott Wave #Channel #Uptrend
In today's blog post I just want to share a trade pattern idea and at the same time my prediction fro USD/CAD that I've been poste in the Technical Analysis Contest, which you can find it here: USD/CAD Uptrend Losing his Steam
The current USD/CAD bullish trend is losing his momentum suggesting we have entered in a more prolonged type of correction especially since we have entered during the summer trading conditions, when volatilityusually dry out and the market tend to stay in congestion…
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Berkeley 7 July

Smash it aswell.

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USD/CAD Uptrend Losing His Steam

Daytrader21 Posted 15 June as Analysis on USD/CAD, Target: 1.0717, Date: 1st of August, 12:00 GMT  in #Technical analysis #Volatility #USD/CAD #Elliott Wave #Correction #Upward Channel
The current USD/CAD bullish trend is losing his momentum suggesting we have entered in a more prolonged type of correction especially since we have entered during the summer trading conditions, when volatility usually dry out and the market tend to stay in congestion.Also since mid 2012 USD/CAD has started trading inside an upward channel (see Figure 1)and current downward momentum suggest we're heading for a retest of lower border of the channel, where price should find some kind of support.
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Daytrader21 22 June

Update 1: This strong breakout below 1.0800 round number and strong support level suggest that we should see further downside movement as there is not much support under way to stop this move for further falling. I only see the next support at around 1.0650 where I do expect the market to form a base from where to start the next big up leg and resume the bullish trend

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Daytrader21 7 July

Update 2: As per my previous update we indeed found support at the 1.0650 important pivot point which will provide the base for the next up swing leg. First we need a break and close above 1.0680 resistance zone before any upside movement to get traction.

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Daytrader21 12 July

update 3: USD/CAD never look below 1.0600 as per my expectation and as we already see this base has indeed provided the support for the next rally. We broke tot he upside through several resistance levels and we already hit our target at 1.0717. However to to price structure price should not exccede 1.0760 where we should find some resistance and i'm looking for some retracement.

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Daytrader21 19 July

Update 4: Last week the market was in a mere 100 pip consolidation zone, with 1.0700 being good resistance zone. It's good thing we're consolidating here as we're building the base for the next up leg. So far so good and the market is following my forecast. Next week prepeared for a break to the upside, as we already have put in place a major low

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Daytrader21 26 July

Update 5: We already gone 100 pips past my target so it may seems that my timing was wrong but the direction is proven to be still right

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