ANALYSIS: USDCAD: 2 Bearish Gartley's Point The Way Down

FX:USDCAD   U.S. Dollar/Canadian Dollar
6 days ago, I published a potential Gartley developing.
USDCAD 1 Gartley and 1 Cypher with Bullish Morning Star pattern

Now here we are. Prices have ALMOST reached the Gartley I had mentioned in the previous post. ALMOST because prices have not reached the D point of the .786 Gartley at 1.26380 yet.(the high of current PA is 1.26322). So DON'T jump the gun! This Gartley is not yet completed.

The Gartley I posted is a .786 Gartley (blue). However, someone else (see Akil's post under "Related Ideas" ) posted another Gartley (a 1.272 Gartley ) that makes more sense. So I have published both Gartley's here. The 1.272 Gartley (also can be called a .886 Gartley ) if filled would also contain a AB=CD harmonic pattern (as pointed out by another poster here, Ivan Labrie).


By my wave count, we are in the wave C of the larger ABC corrective wave 2. The wave 2 is part of a larger 5 wave impulse leg down.

Within the wave C where we are now, by my count we are in wave (iv) of 5 waves up. For the short-term, question is...when and where will wave (iv) down end and wave (v) up begin?

CONCLUSION: For now, I am on the sidelines waiting to see how thing unfold. Most likely, prices are still heading down more in wave (iv). After wave (iv) has concluded, I'll see if there is a good reason to take a long position to catch wave (v) up which would be a good trend trade. Then prices have reached the .786 Gartley D point, I'll wait to see how prices react and either take a short position or wait for the 1.272 Gartley to fill.
Trade Log: http://bit.ly/29AeqnC
Year-to-date Profits: +5,794 pips.
Weekly Best Bets Newsletter: http://bit.ly/2uEvQWF
This Month In Indexes newsletter: http://bit.ly/2tGqpcy
Want results like this? Join us: http://bit.ly/29x4bfM
USDCAD Fibonacci harmonic
for you my friend :)
Not sure what you are trying to point out to me......
is it time to entering short ?
EverythingForex PRO farid_ardavani
I'm not issuing any trade signals here. Just posting my thoughts. See my most recent post on this pair. I can only tell you that I am already short on this pair. You must trade according to what you are able to risk according to the S/L for this pair. Remember, this is a DAILY Gartley so the PRZ and S/L are very large!
USDCAD: So, You Wanna Go SHORT?  B4 You Do, You Should Know...
farid_ardavani EverythingForex
yes and there are some clues on 4HR time frame
farid_ardavani farid_ardavani
short because of divergence and pattern completion
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out