Hi Guys, I just thought I might show you what type of patterns we are looking for on this pairs. We look for specific patterns (names given). As it is right now, we don't have enough info in the chart to either prove the expanding flat or to exclude it and that means we wait. The bigger corrective structure could be an abc or a wxyxz so the possibility for one more up impulse still exist.
Understanding wave theory is important in making good forecast and if you can make good forecast then your probability for a winning trade has just increased.
please have a look at my chart and please give your opinion as an expert. Thanks in advance.
Elliott_Wave_Count
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Hi Anil, it seems move down has been started in my count.
MeenaFathy
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@Guerrera, from a classic point of view i see it broke the daily trend started 7 months ago and now consolidate below it :) but could it go up for one more move ??
Elliott_Wave_Count
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@MeenaFathy, Right now wave (b) seems completed, we have full cycle of W-X-Y.
Y - was complex with ABC inside. In wave Y, wave C is higher than A by just several pips, but it is enough to finish wave Y. So my opinion that USDCAD will go down despite any news :)
MeenaFathy
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@Guerrera, thanks a lot for your kind reply ,take care :)
MeenaFathy
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@MeenaFathy, if you please can i ask you what is MACD 4C indicator and is it different than the normal MACD ??
@Trader522, Anil posts his charts and analysis, and shares his knowledge here. He uses a combination of Wave Theory and Wave Patterns (I believe). Your libel against him only makes you look bad and immature. Yes, he does have a course, but I expect users to have enough competence themselves to make up their own minds whether it's worth taking or not. He teaches not just strategy and technical analysis, but also risk management strategies etc.
If you see no need for it, then that's your prerogative and no need to join. If others see value in it, then they are just as able to join.
Plenty of room on this site for ideas and knowledge sharing, without the likes of you having to discredit others.
please have a look at my chart and please give your opinion as an expert. Thanks in advance.