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$EURCAD | Geo & AB=CD Pattern | Targets DefinedHello Traders, I have a larger time frame analysis of EURCAD (related link) that shows an overall bearish move looming in the horizon. Nonetheless, this is a great set up for a bullish move to the upside followed by a reversal back down. The level I am paying most attention to is point D of the AB=CD pattern. I am looking for this pattern to complete the full AB=CD pattern and may even pass it in order to hit 5'. Overall, look for a quick bullish move to the upside followed by a stronger move to the downside. Updates to be posted as they come along. Stay tuned, Chartistry
by GWaves
GBP/CAD: Almost 1:5 Risk to Reward RatioLooking at GBP/CAD on the daily time frame price have made its first bearish leg, pullback is now for selling as I am looking to trade the second leg down. On the 4 hour chart MIDAS R1 (launched from 2016-08-03 12:00) have successfully captured the pullback together with a TD-Price Flip on the 1 hour chart. This potential trade setup have a great Risk to Reward Ratio of almost 1:5 giving this the top spot on the watch list for next week. MIDAS Trading Tools for MT4 is available to download @ MQL5.com
Short
by Carl_G
1
$CADJPY Smaller Wolfe Wave Nears Completion at Point 5Hello Traders, Here is a bearish Wolfe Wave forming. This is a smaller time frame Wolfe than the larger one I have linked below and also highlighted in grey. This could potentially cancel out the larger frame Wolfe. If the larger time frame Wolfe completes at Geo"s Off-Set rule we could have a Wolfe Wave completion at 5" for the smaller Wave. It will be interesting to see how this plays out. Side Note - The dotted orange line represents an invalidation line, something I picked up from 4xforecaster. In order to know when the projected Wolfe is invalidated, one must take the parallel of the 1-3 and place on the current point 4. If price surpasses this line, then the current Wolfe Wave is invalidated. You can view more cool lessons from 4xforecaster here: www.tradingview.com Best, Chartistry
Short
by GWaves
4