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B33tcoin
Sep 2, 2014 6:57 PM

Mid-term bearish trend broken by Wolfe Waves Pattern. Long

U.S. Dollar/Canadian DollarFXCM

Description

USDCAD is developing strong bullish conditions.

Not only that this Wolfe Waves (WW) pattern if fueling this upward move, but also

* the round low which keep the price over the channel median --> //!\\ The channel is buggy displayed; see the right one here:

* the last 3 days hammer where buyers were present.
* a possible inverted complexe head and shoulders [1] forming the last 4 months
* strong appreciation of DXY - USDOLLAR indexes.

Are all good reasons to take it as a safe bet to long this pair with potentially +5% and a good probability that the rise will become even more steep or exponential.

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[1] Complexe head and shoulders: thepatternsite.com/chsb.html
Comments
B33tcoin
Update2: top of the channel hit (that was the best case scenario):



momentum is still bullish, but I'm done with previsions on the pair. Unsure about the future.
B33tcoin
Update1:

Target quickly hit.

Technician
Nice
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