ew-forecast
Short

Ending Diagonal On USDCAD Indicates A Probable Reversal

FX:USDCAD   U.S. Dollar/Canadian Dollar
USDCAD             has been trading higher for the last few weeks, especially since crude oil             has turned south. On Loonie we see higher highs and higher swing lows but with overlapping price action between two converging trendlines so pair can be making an ending diagonal as shown on the 4h chart. That's a strong reversal pattern which could send price south this month, maybe already from current levels as we see small break beneath the support line. Based on latest update, invalidation level is above 1.3700, as wave 3) must not be the shortest wave.

The ending diagonal is a special type of motive wave that occurs primarily in the wave 5 position when price has moved too far and too fast. Some ending diagonal triangles appear in the C wave of an ABC             correction. In all cases, the ending diagonal terminates the move of larger patterns. They consist out of five waves, with each having three more sub-waves.



Oct 19 2017 ELLIOTT VIDEO ANALYSIS: Gold, 10 year US note, AudUsd, Bitcoin and Crude Oil

https://goo.gl/NtxX3K

Our Full Services Now 50% OFF
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out