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USD/CAD XABCD pattern shown. Potential long term investment.This shows to follow the XABCD pattern with the possibility of going long due to the previous resistance now being formed into a support line that has been retested by previous candlesticks and I am positive that it will rocket up. Also there can be a short term as well because the pattern needs to reverse trend in order of the flow to continue. Once it touches the resistance trend-line, it will hopefully proceed to shoot down in which you can enter accurately and take profit as preferred. Thank you and be sure too look out for more of my analysis and what I think will happen during those periods. (y) (y) (y) (y) (y)
Long
by chiefcapitalfx
EUR/CAD longHere we have a bullish shark on the Euro/Canadian Dollar. The interest rate hike came as a surprise but we should not be shocked by the strength of the Canadian dollar. Against the USD on the daily and weekly charts there is a clear Elliot Wave, showing clear optimism for the currency. (See idea below, logged 8 months in advance). The Cad has gained value across the board against all currencies. The Euro in the past couple of months has also seen sound growth. When comparing this to the value of the Canadian Dollar we may see this pair heading into some consolidation before either currency gains more momentum. Due to the nature of the shark pattern, there is no key singular entry price for any trade. Instead we have a reversal ZONE. Our C:D wave must be between 1.618-2.24 the distance of B:C, while the complete retracement between X:D must land between 88.6% and 113%. Taking this into account, I have identified the minimum and maximum entry levels for a long position- see bold horizontal lines. An entry can be taken at any point on/between these levels. As per the distance between the entry and TP levels, the lower price will give us a far greater return- I will wait for price to reach this level before looking into taking a position. As the shark pattern has the same ratios as a 5-0, we adjust our TP level to accommodate for a potential reversal. See ratios below: Shark ratios A:C = 1.13-1.618 B:D = 1.618-2.24 X:D = 0.886-1.13 K.M.
Long
by KyleMcQuade
EURAUD BUY THE BREAKOUTHi everyone: EURAUD has been consolidated since it hits the key resistance area of 1.4930 for a week now. It is consolidated because the price action is trying to breakout of the resistance trend line. Today we finally see some bullish momentum, breaking out of the trendline, and breaks out of the bullish flag pattern on the higher time frame. Potential targets are the recent highs of the daily price action. Thank you for your support and feedback. JoJo
Long
by jojofang0901
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