Usdcad Intra day Update - forex trading job reviews

Usdcad Intra day Update ~ forex trading job reviews

On 5th October, I talked about an end of wave 5 on the 4H chart of this pair for a bearish move ( Read Here) .  

Price started reacting immediately to the bearish call and I cashed out 100pips on 50% of my position. 

The bearish move has paused and entered a consolidation ( triangle) which if broken downward will give a nice ride.

The bears still have the chance especially from the 1H intraday chart which shows how price is reacting to the expected  retracement ( 50% or 61.8%) of the wave 5.

If Usdcad breaks the triangle downside, its either we have a wave 3 or c which could end at 1.1000 ( 161.8 % extension of a from b and 61.8% retracement of the wave 5 that I discussed on 5th October

If price breaks above the upper boundary of the traingle, I might look forward to exit the other 50% of my position.

I will keep an update as the market unfolds.

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Leading Diagonal for Usdcad U turn - forex trading demo account reviews

Leading Diagonal for Usdcad U turn ~ forex trading demo account reviews

#Usdcad I am so glad taking 450 pips from usdcad in the last 6 weeks I have been shorting. The last update I did, I...

Posted by Sanmi Adeagbo on Thursday, May 7, 2015

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CadJpy Analysis - spartan forex trading academy review

CadJpy Analysis ~ spartan forex trading academy review

#CadjpyYesterday evening, I was thinking about this market and I knew I was looking for a selling position though the...

Posted by Sanmi Adeagbo on Wednesday, May 6, 2015

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Gold Update Emerging Intraday Ending Diagonal - forex trading ea reviews

Gold Update Emerging Intraday Ending Diagonal ~ forex trading ea reviews

As part of the bullish reversal in Gold, I discussed an end of wave 5 formation on 11th November and I followed it with a buy order which went well. 

I posted intraday price updates on 13^th November and 17^th November which all went well to support the bullish move.

The general trend is still down. The recent bullish move is a typical ABC correction format and in short time, price should crash downward.

Presently, the C leg of the ABC correction is forming an ending diagonal which should complete at resistance zone (1210- 1230), a 161.8% extension of A from B. 

If price gets to this region and breaks below the support zone of the diagonal, then we could see a real move downward in a 5-wave motive move to 1000. 

I will update you here as we get more action from price

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UsdCad The Journey So Far And What To Expect - short term forex trading signals

UsdCad The Journey So Far And What To Expect ~ short term forex trading signals

UsdCad was my favourite currency pair. I have traded almost all the patterns in between  for a long time. Its count was so easy for me and at a glance, I saw what price was saying in every move and turn.

At the beginning of this year, I started with a bearish bias though with a long term bullish sentiment. The article was titled UsdCad Analysis for 2015. I forecast a rally in price to 1.35 and above, but after a dip to 1.0 region. 

Below is an excerpt from the article.

"In the long term, this current impulsive move from 2011 is probably part of the ‘C’ leg of the projected zigzag corrective pattern. The ‘C’ leg should take us to 1.35xx and 1.46xx in the years to come, probably a period of 3-4 years"

 

Price since then even rallied further quickly to a long term high in a 5-wave impulsive bullish move which fit a perfect flat formation (weekly chart) as I posted in what was titled Flat formation in Usdcad. I sold at the completion of the flat as I expected a full long term bearish move. Price only dipped for about 900pips before the bullish resurgence.

Price advanced to 1.255 and I labelled it a zigzag correction of the first bearish move which I favoured as an impulsive move though I had a corrective alternative. I chose the impulse because I expected price to react to a larger degree flat pattern..

The advance to 1.255, as a percieved zigzag pattern prompted me to a sell expecting a wave 3 dip which should at least break 1.19 below.

After that discovery, I posted an analysis titled Multi face analysis of Usdcad. 

Below is an excerpt from the analysis.

 

"The long term bullish flat correction which started in 2007 is expected to have ended. The first impulsive wave downside followed by a prospective zigzag corrective wave 2. 

Price is expected to start a new impulsive journey to the downside which is expected to take 1.1920 ( the first wave low) and to 1.1250."

 

Price dipped as expected in a move that was not typical of a wave 3, a zigzag to be precise. The dip ended at 1.21 which was 200pips away from the 1.19 low. Price advanced so fast in the manner of an impulsive move as I watched it broke above the 2015 high at 1.283 and I changed my wave analysis to what I have below.

 

 

 

  So if this is the case, what do we have in the longer term?

The dip from 1.283 to 1.19 was only the 4th wave of the last leg of the longer term (degree) abc correction to complete what pattern?. A zigzag probably.

The chart below shows an emerging long term correction.

 

This zigzag pattern has entered the region of the 4th wave of the impulsive dip from 1.62 to 0.905 ,as shown in the chart above, which is a good region for the completion of a corrective pattern especially a zigzag.

 

I expect price to continue the rally to 1.34 or 1.40-46 in a fifth wave journey after a minor shorter term wave 4 dip. 

 

These projected levels are similar to what I forecast at the beginning of the year as I have posted at the beginning of this article. 

 

What happened between January and July, of course, was a change of pattern which is what we use as elliot wave theorist to understand the behaviour of price.

 

We can follow price actions by analysing with elliot waves theory. 

 

By using elliot wave principles, we can :

1. identify the direction of the dominant trend.

2. identify counter trends.

3. determine the maturity of a trend and a counter trend.

 

As prices develop, we will look for inherent tradable patterns that will build our confidence and apply the right money management rules.

 

Trade with confidence. JOIN AN ELLIOT WAVE MENTORSHIP CLASS and be an elite trader.

 

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Usdcad in a Complex correction - forex grid trading ea review

Usdcad in a Complex correction ~ forex grid trading ea review

On tuesday, 11th November, I posted an analysis of this pair and I stated the reason why price is on a bearish correction.

The move form 26th July has successfully completed a 3-wave or 5-wave impulsive move, and we are expecting and end of wave 5 or wave 4 correction. 

In either case, there is a correction and the market is expected to dip to the region of 1.1215 and 1.1140 ( 38.2 and 50 % retracement of wave 3 respectively)

Before the close of yesterday, we saw wave 4 forming a complex correction ( double zig zag) breaking 1.1370 intra day resistance ( check the intraday chart below ) , and immediately pull back to expectedly continue the dip. 

Price has previously moved down in my favour to take 90pips but no profit was taken as price hasnt dipped to any of my targets yet.

I still hold my sell with stop loss reduced from 95 pips to 40 pips. we should see more action next week. Its time to enjoy the weekend 

 I will update you as price advances. 

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The New State of Usdcad - forex robot trader reviews ea

The New State of Usdcad ~ forex robot trader reviews ea

I have maintained a very bullish bias of Usdcad and price has not given me any reason to think otherwise. 

The last forecast I posted on this pair on 14th November about a double zigzag complex correction gave me some nice 140pips, though I aimed more.

 Price closed the second part of that trade at 80pips. Not bad for a corrective trade.

This market is amassing momemtum to fly high.

Going by the long term, weekly chart, price is in wave 5 of an impulsive move which has the ability to soar to 1.1850 (100% of wave 1- equality ratio) or 1.2700 ( 1.618% of wave 1).

Going by the 4 hour chart, the recent downside correction could be the wave 2 of the expected impulsive wave 5 to complete the last motive wave before we look for a bearish move properly.

The intraday chart figured a flag pattern consolidation, which if broken upside should support the bullish bias.

If flag is broken upside, I will see you in 1.1850.

I will update you as price reveal its movement.

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RED ALERT Usdcad Bears are Knocking - forex automated trading systems reviews

RED ALERT Usdcad Bears are Knocking ~ forex automated trading systems reviews

I did an analysis on 13th February on Usdcad after discovering a successful flat formation and a reasonable bearish candlestick formation.You can read the analysis again

 

Usdcad went into some intraday triangle consolidation and I got myself following it hitherto.

 

 The triangle consolidation was breaking upside in an intra day motive diagonal move with 1.2800 acting as a resistive barrier. 

 

With another resistance at 1.3025 up for grasp and the FOMC announcement coming soon. It looked like a battle between these resistive levels...A resistive zone came to mind ( 1.2800-1.3205) especially when noting that 127% and 138.2% extension of wave1-3 from 4 of the C leg of the flat also fall within this zone. 

 

With price forming a flat corrective pattern (with C let coming as a clear impulsive move) at 50% retracement of the bearish move between Jan 2002 and Nov 2007, a reversal trigger is needed whether technically or fundamentally.

 

With the FOMC at the corner and 1.2800 acting very strong and an expected flat correction for a fresh bearish move, I had to exit my buy to 1.3205 and watch how price react to the announcement before knowing the next destination

The FOMC was negative and price move sharply out of the intra day ending diagonals to start a move downward. 

 

With all indications almost satisfied for a bearish move, Usdcad is expected to be on a bearish journey especially if this week candle is an engulfing one.

Follow and bookmark this blog to follow the journey and take quality trades along.

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UsdCad To Take A Rest - the best forex trading signals

UsdCad To Take A Rest ~ the best forex trading signals

On 31st May, there was analysis here titled Multi Face Analysis of the Usdcad. 

After the analysis, I put a sell order. 

 

I was so sure that I was selling after the completion of a long term flat formation on the weekly chart which was confirmed by the 5-wave impulsive move. 

Price was expected to break below 1.90 in a motive mood.

Price did react and fell, hit my first target at 250pips, then rallied and took 1.23 up in an impulsive manner. 

After looking at the preceding dip from 1.256 to 1.212 and saw how fast the advance was, i quickly exit my second position at a profit of 60 pips. 

The dip was zigzag correction. I didnt trade it because it doesnt tick all my boxes. I only used it as a precautionary measure to close a winning position before running to loss.

 

 Elliot wave theory helps to maintain a winning edge by giving us a clue on how price should response to every pattern it forms, not in a perfect way.

The advance from 1.2125 was an impulsive move with the third wave breaking above 1.28 resistance for more movement upward to 1.316.

 

The third wave is a textbook 5-wave pattern to which price is expected to react, if the support neckline of the terminating upward congestion is broken downside, and dip to 1.28 support in a congestion manner (probably a triangle) typically seen wave 4. 

 

A rally is now expected to terminate the whole upward move after which one can be expected to trade end of 5th wave reversal.

Wave 4 dip is expected to be limited at 1.265 or above 1.256. Any dip below 1.256 could spell bearish resumption.

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Usdcad Ready For Bullish Breakout - forex trading book reviews

Usdcad Ready For Bullish Breakout ~ forex trading book reviews

In my last post on Usdcad, I mentioned a triangle correction. If this correction holds and break upside, I will look forward to take a buy despite my overall bearish bias.

Presently, by the intraday chart, price has completed the fifth leg of the triangle and its now  going up.

 

This intra day upward move looks impulsive ( especially when viewed on the 15min chart) 

 

According to the wave pattern on 1hr, this first impulsive move should break out of the triangle if it is anything serious. 

 

The following correction should retrace to the break point of the triangle and a buy trade can be taken if price doesnt fall back to the triangle massively.

 

 

 

If price behaves this way, there is a high propensity of price getting to 1.2900 which a resistance level. 1.2800 is a closer resistance and we must watch how price reacts to it.

 

If price behaves otherwise and fall back to the triangle, more analysis will be needed as a very complex correction is at stake and care should be taken.

 

As price gives more data, we can see what its next movement could be.

 

You can scroll down to read some of the recent analysis I did on Usdcad for better understanding

I will be here to update you.

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Eurusd Completion Of Bearish Cycle - auto forex trading reviews

Eurusd Completion Of Bearish Cycle ~ auto forex trading reviews

This market has for long crashed down. I am one of the people waiting for a turn. With the completion of the long term bearish correction, price is expected to move up. 

A trigger is needed and it seems we have now.

 

From the weekly chart I have below shows the wave analysis from the beginning of this millenium 2000till date, during which we have a five wave impulsive move followed by a zigzag corrective patter. 

 

The B leg of of this zigzag is a triangle formation.

 Triangles are known to usually precede the end of a run. Price broke out massively in a trendy impulsive move ( this can be seen clearly on the daily chart). 

 

The C leg of the zigzag completes a 100% extension of A leg from B leg which is a very typical fibonacci relationship in zigzag corrections.

 

 

 

 Price is expected to turn from here to 1.1800 resistance, 1.2600-1.3000 ( breakpoint retest of the triangle) and if the long term bullish trend resumes, price go higher and higher.

Always check here for updates of the move and how I intend dealing with price actions along the way.

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Usdcad Resultant Triangle Another Trading Opportunity! - binary forex trading reviews

Usdcad Resultant Triangle Another Trading Opportunity! ~ binary forex trading reviews

Wow!....Usdcad has continued its business from where it stopped in 2014 ---Spinning Pips for me! 

 

The last post I did here was about how I took 180pips of the 60% of my exposed lot (The other 40% stopped out at 100pips. 

 

Not bad for a trade of 85pips risk) ,while I watched out for the neckline of an emerging double top whose breakout is expected to be part of the long term bearish movement forecast.

 

I always noted something: as more price data are added, price tend to show us clearly what next is expected and we can follow through with substantial evidence until we have none.

 

The bearish expectation spurned out from the analysis I did on the weekly chart where I spotted an end of a flat correction with reversal candlestick analysis. 

 

You can read the analysis here.

 

With the current intra day price data, what we are having presently is a corrective pattern- A corrective triangle to be precise. 

 

If price breaks this triangle to the upside we could see a real bullish movement ..Did I say bullish..yes! I have a bullish intra day thought against the bearish forecast because that is what price is saying to me at the moment.

 

 Besides if the triangle breaks up and reach 1.3( the next resistance) and its neighborhood, the flat correction is still intact and I can continue from there as price directs.

 

 

I will wait and see how price validates or invalidates this triangle and the alternatives it presents

 

I will be here to update you

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Gold Spot On! - forex trading bot reviews

Gold Spot On! ~ forex trading bot reviews

The dip from 2011 on the long term is looking impulsive as price crashed down in style. 

This dip goes well with the elliot wave theory which says, markets retrace in 3s in the opposite direction as the prevailing trend which is usually in 5s. 

On the long term, the corrective 3s are coming as expected, though could be in different corrective pattern. The first of the 3 - corrective waves according to the elliot wave theory are expected to be motive i.e Impulse waves or diagonals.

The Gold market looks like being in the first phase of this correction and its expected to be a motive....Impulsive is more likely based on what we see at the moment.

This impulsive move which started in 2011 has completed the fourth phase of its development with a triangle corrective pattern and a crash down is expected as the last phase should be a motive wave.

 

Gold peaked towards the end of 2011 after several years of increased bullish momentum. The peak (wave 1) completed and the bearish correction started in an impulsive mood for the next 3 years and that’s where we are now.

I posted more than one times how I expected Gold to close at 1000 before the end of this year, but that idea appears to be melting as Gold is looking increasingly more bullish than bearish.