Elliott Wave Analysis: A Powerfull Reversal Pattern On USDCAD

FX:USDCAD   美元 / 加元
USDCAD is moving higher for the last few weeks, but an overlapping price action from the last few days suggests that turning point can be near. The reason is an ending diagonal; it's a special type of Elliott Wave form that causes a reversal in strong manner, but for such case a break below wave four swing near 1.3650 will be needed. Invalidation level of the pattern is above 1.3820. Why? Because wave three is already shorter than wave one, so it must not be shorter than fifth wave. So if 1.0820 level is passed wave count will change.

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Please be informed that information we provide ARE NOT trading recommendation or investment advice. All of our work is for educational purposes only.
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Is RSI bearish divergence invalid in 4H?
@teerapanr, what do you mean ?
Thanks Gregor...By the Nice pattern on USDCAD i am expecting the same....
+1 回覆
ew-forecast amoldeokar75
@amoldeokar75, No problem and hopefully it reverses soon.
Hello Gregor I want to know....is there wave labelling tool in trading view chart tool box ? and where it is?
+2 回覆
ew-forecast amoldeokar75
Hello @amoldeokar75, and yes of curse it is. This one that i am using. Look on the left side at the toolbar, and click just beneath the Aa button. There are a few Elliott Wave labeling keys.
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