FullTimeTrader
Short

USDCAD-Expecting a strong correction-Expanded flat

FX:USDCAD   U.S. Dollar/Canadian Dollar
1945 26 35
Hello, im closely watching this pair because it seems its ready to make a pullback/correction.
Looking at D1 chart we see an expanded flat correction could be forming for wave 4 circled. The AO also shows double bearish divergence:
snapshot

Im trying to pinpoing an entry on H1 chart, price is making an AB=CD retracement to last highs.

I assume wave 1 blue is a leading diagonal .

Details on chart.

Regards.
Very nice
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Yes, I think that was the last upleg..
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AndyM PRO ChetanFX
there is one more due.. crude to go back to 38 or lower, and CAD to do another upswing for a couple of weeks.
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Yes, it seems crude is completing wave 4, i will ready for that. Thanks and regards.
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EverythingForex PRO FullTimeTrader
Hey FTT, that was a GREAT call! I was long on this pair as per my own trade post UNTIL I saw your post! Then I realized that what you were saying was on point and closed my trade. Still took a small loss but managed to limit the damage. Thanks, bro!

But yeah, I agree with AndyM in that I still do think that there is another swing up left in this pair to FINALLY complete the final leg of the long term up move. And then down we go! When crude hits 36-38, it won't, can't go any lower.
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FullTimeTrader EverythingForex
Hello, thanks, we are here to help each other with different ideas. I agree, if you look my D1 count i expect price will reach wave 4 blue circle and then a final leg up. So the roadmap seems to be clear now.
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starter.starter.3 FullTimeTrader
Hi after the final leg up in October (?), will USD peak then and start bear market? Will it spike during stock market crash as in 2008? Thanks!
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HELLO MY FRIEND
ANALYSIS YOU IS GOOD ,
MY THINK THAT MOVE TO BE 1.30000
USD CAD SELL
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FullTimeTrader MILAD-FX-26
Hello, yes price should reach that levels.
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UPDATE. closing all positions with profits. Seems price wants to make one more push high and form an expanding ending diagonal. Will update. Regards.
+1 Reply
Hi glad to find your posts today. I wonder if oil has bottomed now if USD will rise sharply after the pull back -- will oil drop sharply then? how low can it go?
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FullTimeTrader starter.starter.3
Hello, correlation is useful but not to the pip. My bias is that oild has bottomed but now is consolidating. The USD will make a last push up (small one) and then fall like a stone. Oil will rally also at the same time. Regards.
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AndyM PRO FullTimeTrader
Great view, similar to mine. all currencies, Crude, CAD - all need to reverse very soon. (1-2 weeks max). My only concern is the correlation to SPX - still looking for a reason that currencies do reverse, and SPX continues its decline. If currency markets do something different, the SPX should follow (reverse up?)..
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Hello, my bias is that SPX500 will reverse up soon. This is an idea i posted before:
SPX500-The stock market is crushing as expected. What
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AndyM PRO FullTimeTrader
hmmm... well.. If we still expect W5 down in SPX then it might be difficult to go up to new highs. In order to go up we need to have a correction, and corrections take more than just an impulse, it's a 5-3-5 structure at the minimum, and because we are not even done with the first impulse the whole corrective structure if it apprears will bring us way below 1760 where the resistance resides. Hard to recover after that.
We need to see the development over the course of the next two week, but the analytics from EWI and cycles research of Tim Wood (not West) suggest that the current decline is supposed to retraced all SPX gains down to below 670. I tend to believe them and place my bets on that scenario.
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It's the sharpest decline since 2009. Even using neowave (Glenn Neely's spin off), you'd have to consider that the whole rally since 2009 ended since to confirm it, you need either: clear impulse up done (not possible, it's a B wave!), or absolutely violent action in the opposite direction.
We have the second, so I see no way that this is a 4th wave.
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hi andy.. u have count/ or view on ger30 ?
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AndyM PRO mkdeep04
hi! sorry, ain't got any. But the US and EU markets are all going down in a similar way anyway.
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This...the charts were doing different twists of the same song and dance, but recently they look 99% the same, so I guess it's not 'a correction' anymore.
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IvanLabrie PRO IvanLabrie
snapshot

People are delusional...
+1 Reply
snapshot
blue count or tgt grey box to complete 5w.. ,, price broke daigonal line n now testing . caution needed
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Same area for a short!!
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mkdeep04 FullTimeTrader
i placed sellstop 3170.. just in case
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Yes, i'll be shorting USDCAD at 1.33523. target is 1.27005
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personally i have cancelled pending short positions on USDCAD as the pair dicounted the bearish trend after FED.
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FullTimeTrader griffin1989
My short position are near to BE, lets see next week. I will be ready to sell higher.
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