FX:USDCAD   U.S. Dollar/Canadian Dollar
9464 43 298
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
Thank you .
+1 Reply
anilmangal PRO ForexLoveme
Thanks
Reply
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.
Reply
anilmangal PRO Victor.Y.F
ok , you have a plan
Reply
Victor.Y.F PRO anilmangal
A nice trade! As always!
Reply
Waiting for it to fall like a rock! :)
Reply
let's see , possible
Reply
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
add me to skype for more info :mangal457
Reply
ozcurumez anilmangal
Anil, I have add you to my skype. Looking forward for more info.
regards
halil
Reply
where would you put a stop?
+3 Reply
anilmangal PRO NihalCassim
depends on the strategy you are using
Reply
Today we have FED's / EMU / Crude Oil Stocks
Be careful with SL, otherwise will be HIT for nothing
Reply
anilmangal PRO lincolnborgesrp
ok thanks for the info
Reply
Looks good Anil.
Reply
yep it is
Reply
looks good now for 2nd round
Reply
great call
+1 Reply
nice one
+1 Reply
this worked like magic.
+1 Reply
Bingo Bango. That was fast!
+1 Reply
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
Wish you luck , but not sure luck have anything to do with it .
Reply
Ruben68 anilmangal
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...
Reply
epsion22 anilmangal
is there a significance if it hits the lower 60 min channel line? Or just something to see the patterns and just observe?
Reply
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/?
Reply
Thanks Sir,
V.nice :)
+1 Reply
Right on!
Reply
efficient markets... what a joke :D. Effectively we've put the trade way before the OPEC agreement :D
Reply
That's what I call accuracy
Reply
spot on !!!!!!
Reply
arrrrr why i missed that one? :)
Reply
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!
Reply
epsion22 Kumail
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
Reply
Kumail epsion22
Thanks, yep! I have started watching them :)
Reply
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
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.
Reply
Nailed it!
Reply
youre the best!
Reply
Thank you for this one. Made mad pips on this trade yesterday
Reply
congrats!
Reply
Great trade in correction now? ... and then another chance to short? Thanks for updates
Reply
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?
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
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