Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Elliott Wave Analysis by EWF
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Elliottwave-Forecast, post: 209423, member: 40858"] Hello fellow traders. Another instrument we have traded lately is USDCAD. As our members know, we’ve been favoring the long side in USDCAD due to incomplete bullish sequences the pair is showing in the weekly cycle from the 05.30. low . In this technical blog we’re going to take a quick look at the Elliott Wave charts of USDCAD, published in members area of the website. We are going to explain the Elliott Wave Patterns and trading strategy. [HEADING=3]USDCAD Elliott Wave 4 Hour Chart 06.08.2022[/HEADING] USDCAD ended cycle from the 1.24008 low as 5 waves structure, leading diagonal. We have labeled that cycle as 1 red. Currently the doing 2 red pull back which is unfolding as Elliott Wave Zig Zag pattern. First leg of the pull back looks like 5 waves structure,then we got 3 waves bounce ((b)) and now ending another 5 waves down in ((c)) leg. We don’t recommend selling the pair against the main bullish trend. The price has already reached extreme zone from the peak at 1.256-1.2400.Strategy is buying the dips in the mentioned zone. As the main trend is bullish we expect buyers to appear at the blue box for 3 waves bounce at least. Once bounce reaches 50 Fibs against the ((b)) black blue high, we will make long position risk free ( put SL at BE). As our members know, Blue Boxes are no enemy areas , giving us 85% chance to get a bounce. [I]You can learn more about Elliott Wave Zig Zag Pattern at our [B]Free Elliott Wave Educational Web Page[/B].[/I] [URL='https://elliottwave-forecast.com/wp-content/uploads/2022/06/USDCAD-06.08.jpg'][IMG alt="USDCAD"]https://elliottwave-forecast.com/wp-content/uploads/2022/06/USDCAD-06.08.jpg[/IMG][/URL] [HEADING=3]USDCAD Elliott Wave 4 Hour Chart 06.11.2022[/HEADING] The pair found buyers at the Blue Box area and we are getting good reaction from there. Pull back 2 red is counted completed at 1.2508 low as Elliott Wave Zig Zag pattern. The rally from the blue box already reached and exceeded 50 fibs against the ((b)) connector so,we booked partial profits and made trades risk free ( put SL at BE). Now we need to see break of May 12th peak in order to confirm next leg up is in progress. Keep in mind that market is dynamic and presented view could have changed in the mean time. You can check most recent charts in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the [B]Live Trading Room[/B] [URL='https://elliottwave-forecast.com/wp-content/uploads/2022/06/USDCAD-06.11..jpg'][IMG alt="USDCAD"]https://elliottwave-forecast.com/wp-content/uploads/2022/06/USDCAD-06.11..jpg[/IMG][/URL] [B]Elliott Wave Forecast[/B] Source: [URL]https://elliottwave-forecast.com/trading/usdcad-elliott-wave-blue-box-area/[/URL] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…