dojitrader
Long

Unusual 3 Drive Potential ???

FX:USDCAD   U.S. Dollar / Canadian Dollar
198 0 2
I think it's rather rare to find a 3 drive with 1.618 as the swing points.
This looks fairly harmonic even though the bounce from D1 was extremely
shallow - this pattern also seems to combine with bottom trend line
and support from way back in August.
If this is also the end of a larger degree 4th Elliott Wave , as many counts
have suggested the profit potential is massive. At the very least, as 3 drive
usually do, they retrace back to the origin of the pattern about 1.3400 +
Stops seem to be a bit tricky with such a large support zone , so, as always
I'm hoping the candlesticks will provide a clear entry trigger and small stops.
However, since 1.618 fib ext usually finds some sort of quick response I think I'll
put in limit order for half position @ 1.2940 with stops around 1.2989
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener 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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out