FX:USDCAD   U.S. Dollar/Canadian Dollar
9216 43 285
Hi Guys the USDCAD             is in a daily corrective structure. It is in the C wave which looks like an ending diagonal. If this is so then this short term sell could be a much bigger trade, so if you know how to trade these setup go for it.

Trade with care.
Thank you for your support.
YouTube: https://www.youtube.com/channel/UCmvABDWwbqRvh0QGAf-86_Q/videos
Facebook: https://www.facebook.com/ProwaveTrader
Training : add to skype mangal457
ForexLoveme
2 months ago
Thank you .
+1 Reply
anilmangal TOP ForexLoveme
2 months ago
Thanks
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Victor.Y.F
2 months ago
Thank you Anil! It's a short timeframe short. I'm waiting for buying lowers. We're expecting 2 events of capital squeezing from renminbi and FRB's hike. Those events should push it to 0.5 fibs.
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anilmangal TOP Victor.Y.F
2 months ago
ok , you have a plan
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Victor.Y.F anilmangal
2 months ago
A nice trade! As always!
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ananora23 PRO
2 months ago
Waiting for it to fall like a rock! :)
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anilmangal TOP ananora23
2 months ago
let's see , possible
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ozcurumez
2 months ago
Anil,
First time I watched your weekly review I am very impressed.What time of the week you purplish your weekly review? I tried to download ELLIOT BOOK you have mentioned during last week review, I was not allowed to download free. Can someone email the book for me ozcurumezh@gmail.com. how i can join your training programmer or how i can get your training material? How i can join the group.
+2 Reply
anilmangal TOP ozcurumez
2 months ago
add me to skype for more info :mangal457
Reply
ozcurumez anilmangal
2 months ago
Anil, I have add you to my skype. Looking forward for more info.
regards
halil
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NihalCassim
2 months ago
where would you put a stop?
+3 Reply
anilmangal TOP NihalCassim
2 months ago
depends on the strategy you are using
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lincolnborgesrp
2 months ago
Today we have FED's / EMU / Crude Oil Stocks
Be careful with SL, otherwise will be HIT for nothing
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anilmangal TOP lincolnborgesrp
2 months ago
ok thanks for the info
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Stejay PRO
2 months ago
Looks good Anil.
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anilmangal TOP Stejay
2 months ago
yep it is
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robrob80 PRO
2 months ago
looks good now for 2nd round
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epsion22
2 months ago
great call
+1 Reply
FxInfaz
2 months ago
nice one
+1 Reply
Ralidiak PRO
2 months ago
this worked like magic.
+1 Reply
HItrader
2 months ago
Bingo Bango. That was fast!
+1 Reply
Ruben68
2 months ago
Good job, nice wave observation. Im studying the elliot wave, charts, and the charts you post. Im trying to understand the way you look at the chart.. the way you make your observations and im trying to find out the rules you're following.. :) Wish me luck!
+1 Reply
anilmangal TOP Ruben68
2 months ago
Wish you luck , but not sure luck have anything to do with it .
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Ruben68 anilmangal
2 months ago
haha thanks, i guess i have to gain a lot of knowledge.. that way I can reduce the 'luck'.. The more you know, the less your trades depent on luck...
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epsion22 anilmangal
2 months ago
is there a significance if it hits the lower 60 min channel line? Or just something to see the patterns and just observe?
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Smiley8080
2 months ago
Excellent Charting, thank you Ani, I'm trying to follow your strategy and tactics but can only try. Is Wall St facing a bear b/o/?
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ali.forexwala
2 months ago
Thanks Sir,
V.nice :)
+1 Reply
Right on!
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ivn96
2 months ago
efficient markets... what a joke :D. Effectively we've put the trade way before the OPEC agreement :D
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radraziel
2 months ago
That's what I call accuracy
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fxbruno
2 months ago
spot on !!!!!!
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mlbo
2 months ago
arrrrr why i missed that one? :)
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Kumail
2 months ago
How does this analysis fit in with the OPEC announcement. I mean, how does wave trading work along with Fundamental. For this pair, clearly the news dropped the price, which fit in nicely with the analysis. But I am assuming the Fundamental news would change/break the structure, and hence we would have to watch out for it?

Or are we saying that since because of the news, the price dropped, and as soon as it broke below your structure line there (approx 1.32146?), then it followed and broke further as per your analysis?

Thanks, I'm still new to all this, and just trying to pick stuff up. Love your analysis thus far!
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epsion22 Kumail
2 months ago
watch his vids on youtube, you will learn a lot. short answer is to trade the structure of the chart. pretend you never heard what happen with opec
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Kumail epsion22
2 months ago
Thanks, yep! I have started watching them :)
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MohammedSolaiman Kumail
2 months ago
lets say I agree with you .. then why the drop happened exactly after 1H candle closed down the correction trend ?
then why the price bounced of the trend and didint continue to go down .
another question : if the news moves the market when there is no news .. why the market is moving ?

Reply
Kumail MohammedSolaiman
2 months ago
I assume the drop happened after the 1H candle close, because only after that the news came?
My understanding of what I've learned from Anil so far, is that "if the structure breaks, then it will head down." In fact, his exact words are "If this is so then this short term sell could be a much bigger trade"

So, what I think, is that the OPEC news made the price drop, which confirmed what's happening in the structure, and hence a Sell opportunity came. If the OPEC news was the other way, then price would have increased, and invalidated the structure. Again, I'm new to this, so kinda just thinking out loud.
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IvanManov
2 months ago
Nailed it!
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lelo
2 months ago
youre the best!
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DebeerF
2 months ago
Thank you for this one. Made mad pips on this trade yesterday
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UrbiGT
2 months ago
congrats!
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UrsulaP
2 months ago
Great trade in correction now? ... and then another chance to short? Thanks for updates
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JayArSantiago
2 months ago
can we short this now? i think the correctional wave is about to come down in daily time chart.. what do you think mr. Anil?
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