FIRST POST; TRUNCATED 5TH WAVE POSSIBLY FORMED IN ABC CORRECTION; SEE HOW THIS PANS OUT I GUESS
After a bouble top EURCAD fell vastly and hit demand zone and bounced back up, we should be seeing 1.54 next!!
FX:EURCAD iMPULSE LEG: Wave 2 = 61.8% of wave 1 (Prices usually do not retrace more than 61.8% of the wave one gains; Can never exceed the start of wave 1); wave 3 = 161% ext of wave 1 (can never be the shortest impulse wave); wave 4 = 38.2% to 50% of wave 3 (can never overlap wave 1 ); wave 5 = wave 1 CORRECTiON: Wave A = usually around the 50%/61.8%...
EURCAD 4H COMPLATED BULLISH BUTTERFLY
EUR/CAD (hourly) SUMMARY: The primary trend of EUR/CAD is bearish on charts and price is trading below the trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.4900 and support at the level of...
EurCad long if it closes above MA200.
Today's Chart - EUR/CAD SUMMARY: The primary trend of EUR/CAD is bullish on charts and price is trading below the trend line in its hourly chart. In hourly chart the price is sustaining below 200 day SMA and taking support of 50 day SMA indicating uptrend of the pair. It is having an important resistance at the level of 1.5325 and support at the level of...
FX:EURCAD SHARK: Point B: 61.8% XA Point C: 113% to 161% AB Point D: 161% to 224% BC 88.6% to 113% XC Target: 38.2% to 100% CD Safe Trades;
FX:EURCAD BAT: Point B: 38.2% to 50% XA Point C: 38.2% to 88.6% AB Point D: 88.6% XA Targets: TP1 38.2% AD TP2 61.8% AD BUTTERFLY Point B: 78.6% XA Point C: 38.2% AB 88.6% AB Point D 161% ext BC 261% ext BC Targets: TP1 61.8% CD TP2 127% CD GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1...
FX:EURCAD GARTLEY Point B: 61.8% can not touch 78.6% XA Point C: 38.2% to 88.6% AB Point D: 78.6% XA 127% ext AB Target: TP1 38.2% AD TP2 61.8% AD SHARK: Point B: 61.8% XA Point C: 113% to 161% AB Point D: 161% to 224% BC 88.6% to 113% XC Target: 38.2% to 100% CD Safe Trades; open.spotify.com
This pull back is providing a nice risk reward ration of 1:2 for a long, if the pair pulls back further you can still get a good RR by extending SL to below 1.45118 and targeting 1.5475
There are 2 bullish AB=CD patterns, completing almost exactly in a tight zone. In these situations, bears usually lose interest selling further and this will cause the price to go up. I have shown my suggested TP levels. This analysis remains valid as long as the 1.4160 support is not taken out. Good luck, Ali Sharif Azadeh, CFTe