i feel this is a neater version of my cable analysis.
with the MA'S crossed to the upside on daily and 4hr and bullish price action more recently, i feel a b/o to the upside is very likely.
however if price is rejected by that key level, i will be using trend lines & s/r levels as target for a bearish position.
There are technicals for either outcome to go off from my analysis here on the USDCAD Daily. Given the monthly support rejected price aswell as the top channel rejecting price for a 3rd bounce, gives me an incline a B/O seems pretty natural and potentially to the upside. however with all MA'S crossed over to the ...
Break of CT could be a trigger for a short position to complete wave D. MA crossed over to the downside on Daily and weekly!
there is a strong bullish marubozu off of CT so i am being cautious of my short position as it could break to the upside.
whats your thoughts???????????
We need MA's to crossover for a signal.
If price breaks weekly support i will be shorting.
If price reaches 61.8 fib i will be using PA on 4HR to determine a entry to the upside. with a target of 1.15
But very confusing candles for me personally.
WHAT DO YOU GUYS THINK?
I posted similar analysis of this pair a week ago. I did infact get stopped out due to a early entry however my analysis was correct. I am now entering upon the break of monthly support 1.51 bearish to complete wave D.
Whats your thoughts?
Although MA'S are crossed over to the downside on all HigherTFS, price did break a key level but wasnt able to push beyond .786 fib. So if price does break that level i will be going long. However, on the daily we have a elliot wave with a pinbar on weekly res completing C wave. Fibonacci also helps to confirm abcd ...
I still believe will touch 1.16 eventually, however before that day comes there are some reversal signs.
MA'S are beginning to crossover to the downside on higher timeframes.
Monthly res & 78.6 fib rejected price signalling strong level.
Whats your thoughts?
On all higher TF'S, Im seeing short.
We have the MA'S crossed over to the downside on weekly and daily. There is price action signalling bearish. In addition the candles have been rejected by weekly resistance and have broken a trend line signalling weakness.
I see bearish all the way! What do you see?
I have ...
From my analysis here is what i found on this pair:
Although on the last leg of the elliot wave C, price broke a key level of monthly resistance, it has retraced to the 50% fib.
On all higher TF'S both MA'S are above candles and not in proximity of one another signalling a continuation of the downtrend.