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| Name | U.S. Dollar/Canadian Dollar (USDCAD) Forex Elliott Wave Technical Analysis |
| Video Uploader | Video From TradingLounge |
| Upload Date | This Video Uploaded At 18-07-2024 06:41:45 |
| Video Discription | USD/CAD Daily Chart Analysis USD/CAD Elliott Wave Technical Analysis Function: Counter Trend Mode: Impulsive Structure: Orange Wave C Position: Navy Blue Wave Y of E Next Higher Degree Direction: New Wave 1 Wave Cancellation Invalid Level: 1.37566 The USD/CAD Elliott Wave analysis for the daily chart aims to understand counter-trend movements using Elliott Wave Theory. This analysis helps identify market patterns and phases. It focuses on tracking a counter-trend movement, indicating the current market direction is against the broader trend. The mode is impulsive, suggesting strong and decisive price action despite being in a counter-trend. The specific wave structure under observation is Orange Wave C, part of a broader Navy Blue Wave Y of E. This indicates the market is undergoing a significant movement within the counter-trend phase. Currently, the market is positioned in Navy Blue Wave Y of E, indicating the completion of earlier waves and the start of the final leg in this corrective pattern. USD/CAD 4-Hour Chart Analysis USD/CAD Elliott Wave Technical Analysis Function: Counter Trend Mode: Impulsive Structure: Gray Wave 3 Position: Orange Wave C Next Lower Degree Direction: Gray Wave 3 (started) Wave Cancellation Invalid Level: 1.37566 The USD/CAD Elliott Wave analysis for the 4-hour chart aims to understand counter-trend movements within the market using Elliott Wave Theory. This analysis helps identify market patterns and phases. It focuses on tracking a counter-trend movement, indicating the current market direction is against the broader trend. The mode is impulsive, signifying strong and decisive price action despite being in a counter-trend. The specific wave structure under observation is Gray Wave 3, which is part of a broader Orange Wave C. This suggests the market is undergoing a significant movement within the counter-trend phase. Currently, the market is positioned in Orange Wave C, a corrective wave in the Elliott Wave cycle. This indicates the market is experiencing a corrective phase, following impulsive waves and typically retracing part of the previous trend. Technical Analyst : Malik Awais Special Trial Offer - "Buy 1, Get 3 Months" Click here tradinglounge.com/341 YOU CAN REACH ME via: LinkedIn:https://linkedin.com/in/petermathers Facebook: https://www.facebook.com/tradinglounge/ Twitter: https://twitter.com/tradinglounge Risk Disclaimer - This is not financial advice. The material does not contain (and should not be construed as containing) personal financial or investment advice or other recommendations, or an offer of, or solicitation for, a transaction in any financial instrument. The information does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. TradingLounge accepts no responsibility for any use that may be made of these comments and for any consequences that result. TradingLounge™ uses a range of technical analysis tools, such as Volume Analysis, TradingLevels, Elliott Wave, software, and fundamental analysis as well as economic forecasts aimed at minimising the potential for loss. The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership and social media platforms has been prepared without taking into account your particular objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. #elliottwave #forex #investing #technicalanalysis #currencies #worldcurrencies #usdcad #currencies |
| Category | Education |
| Tags | Usdcad | Elliott | trading | investments | technicalanalysis | Elliottwave | forex | fx | currencies | Worldcurrencies | dollarindex |
