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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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Jun FX Seasonal Cycle

Daytrader21 Posted 1 June  in #Trader's blog #Eurusd #Patterns #Gbpusd #Dollar Index #Usdcad #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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GBP/JPY and USD/CAD Trade explanation

Daytrader21 Posted 6 May  in #Trader's blog #Gbpjpy #Usdcad #Technical Analysis Contest #General Elections
In this blog post I want to take the time and go over my latest trades and give few reasons as why I took them. First trade I want to talk is GBP/JPY as yesterday I took a short trade on this pair in anticipation of further downside movement. I was expecting more downside pressure on all GBP pairs due to the UK General Election risk. But for the time being the market has proven me wrong. This trade was quite fast because as soon as my short entry was triggered it started moving against me more t…
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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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USD/CAD Technical Analysis: Early Topping Signs Emerge

Daytrader21 Posted 29 June as Analysis on USD/CAD, Target: 1.0330, Date: 1st of August, 12:00 GMT  in #Technical analysis #USD/CAD #Elliot Wave #Sell #Usdcad #Up Trend #Market Top #Corrective Phase
From the daily perspective usdcad remains within an uptrend channel and as Elliot wave suggest we have complete the 5 wave sequence and a Top may be in place. Expecting from here market to correct the up move and expecting an ABC type correctionWave 1, 3 and 5 are motive waves and wave 2 and 4 are corrective waves. As it can been seen from the chart motive waves have a five-wave structure, while corrective waves have a three-wave structure or a variation thereof. This gives us confidence that th…
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Daytrader21 4 July

USDCAD is heaving hard time to break above telling us that the supply is coming in the market each attempt to break higher is quickly sold of. The longer we are going to stay in this range zone the higher will be the magnitude of the breakdown, an imminent breakdown is near so based on all this signs I still remain bearish

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Skif 5 July

can't keep above 1.05 go down to at least 1.0277

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Daytrader21 13 July

As predicted price indeed formed a swing high around 1.0600 after the recent sell of although we already hit my target at 1.0330 I'm expecting price to retest the broken support at 1.0470 and then to have another sell of and retest again the 1.0330 level

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Daytrader21 29 July

Since my last update we indeed retest the broken support around 1.0440(30 pips away from what I predicted) and continue the downward movement going below 1.0330. The momentum is fading away and it seems the market has found support at around 1.0260 which coincide with the 5th wave of current down leg so this suggest that we may see a rally in the coming days. We are still in cards for hitting my target.

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Daytrader21 30 July

Last update: As I've said it yesterday market indeed rallied today from 1.02600 support zone, we have one more day to go and we are just 30 pips away from my target. Again my market analysis was very precisely and the market reacted based on the Elliot wave count.

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