WHO IS READY FOR USDCAD TO FINALLY FALL?
Hi All,
Interesting moves this week and based on the count, I think Looney is looking like it is about to fall and start wave 3. Please see my count update below.
Count update:
Big picture: From the screenshot below, I have been tracking the final wave 5 of wave C of an ending diagonal which has hit a key fib level where wave A = C at 100%. This is followed by a shape impulsive wave down which generally signifies a change in trend.
From the top:
Wave 1: 5 wave impulsive to the downside. I initially thought this was a potential wave C of an expanded flat but having recounted the final wave 5 up (which was an ending diagonal) I have changed my count to reflect this and have labelled 1.3795 as the top.
Wave 2: This is a clear ABC flat wave that retraced to 78.6% of the wave 1 impulse
Wave 3 (Current wave): I have marked out the possible FIB extensions for wave 3; Target 1 = 1.3526 Target 2 = 1.3376 target 3 = 1.3132
This Friday's session will be a massive indication that this count is right so let's see how it plays out
Happy Trading!
Interesting moves this week and based on the count, I think Looney is looking like it is about to fall and start wave 3. Please see my count update below.
Count update:
Big picture: From the screenshot below, I have been tracking the final wave 5 of wave C of an ending diagonal which has hit a key fib level where wave A = C at 100%. This is followed by a shape impulsive wave down which generally signifies a change in trend.
From the top:
Wave 1: 5 wave impulsive to the downside. I initially thought this was a potential wave C of an expanded flat but having recounted the final wave 5 up (which was an ending diagonal) I have changed my count to reflect this and have labelled 1.3795 as the top.
Wave 2: This is a clear ABC flat wave that retraced to 78.6% of the wave 1 impulse
Wave 3 (Current wave): I have marked out the possible FIB extensions for wave 3; Target 1 = 1.3526 Target 2 = 1.3376 target 3 = 1.3132
This Friday's session will be a massive indication that this count is right so let's see how it plays out
Happy Trading!
Trade active:
Hi All,
Short trades have been triggered and now watching the nature of the fall which should hopefully break short term key levels at; 1.3665, 1.3647, 1.3640 and 1.3530...
GL
Don
Short trades have been triggered and now watching the nature of the fall which should hopefully break short term key levels at; 1.3665, 1.3647, 1.3640 and 1.3530...
GL
Don
Trade active:
Quick update - all minor key levels have been broken now so we're looking longer term support at 1.3530, 1.3340, 1.3260 and a major one of 1.32220
Good to start the week off with 110 pips up.
Keep a look out for update post later this week...
Don
Good to start the week off with 110 pips up.
Keep a look out for update post later this week...
Don
