Elliott Wave Analysis: Anticipating an Upward move in USDCAD

2024년 6월 3일

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!

2024년 6월 3일

노트

UPDATE: Invalidation area adjusted. Idea still appears valid.



Let's see.

2024년 6월 5일

노트

The pair did just as predicted. It has done over 100pips so far.

2024년 6월 5일

노트

Now, reversal can occur any moment from now. Be on the lookout for confirming price action.

Cheers guys.

2024년 6월 10일

노트

USDCAD did +117pips.

2024년 6월 10일

거래청산: 타겟 닿음

2024년 6월 11일

노트

UPDATE: Reversal to the downside supported by bearish Gartley. First target is 1.36720.

2024년 6월 12일

노트

UPDATE: After the completion of initial upward move, price dropped by +85pips just as predicted.
Elliott wave projection:

Harmonic projection: