Elliott Wave Training

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Showing posts with label EUR/CAD. Show all posts
Showing posts with label EUR/CAD. Show all posts

Sunday, June 8, 2014

Elliott Wave Analysis of EURCAD

The next bounce will help both ideas, if a crappy move that fails around 15050 if can setup for a bearish "3rd of 3rd", if a strong bid above 15050 it will suggest the move from 15587 was a simple ABC decline and likely setup for a move to new yearly highs.



15050 is a big area for both bulls and bears. the winner of that area should ultimately decide the next larger move.

The move so far is a bit scrappy, although we can actually count it as the start of something bullish it needs a lot more upside to suggest a bullish setup.

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Sunday, September 30, 2012

Elliott Wave Analysis of EUR/CAD

This could be a very low risk setup next week, as against the last swing low at 1.2607 is the risk control point, below that area the idea is wrong, if the market is setting up for wave [iii] of the larger [v] we should see some upside from Sundays open

Target  is towards 12850-129 (subject to the advance)


Thursday, September 27, 2012

Elliott Wave Analysis of EURCAD

The wave [iv] can be counted complete, although like all corrections they can morph into another variation, but its holding well above key support and its not really showing impulsive price action, so the odds suggest currently more upside in what i think will be wave [v] of a 5 wave impulse wave that started back in August.

A strong break down under 1.2250 will be a warning that the idea is looking wrong, but even with a marginal new low (if the low is not in for wave [iv]) it could still setup nicely for a break higher.

Tuesday, May 15, 2012

Elliott Wave Analysis of EUR/CAD






Before and After shots

Simple, 5 wave decline and a 3 wave advance, this is simple text book Elliott Wave, even the most basic of trader can trade this idea


Learn from a skilled technician and it becomes easy

Saturday, March 31, 2012

EUR/CAD VS EUR/USD Analysis


I am big fan of watching other FX crosses of the same grouping and using those for edges on other markets

For example here we can see the EUR/CAD appears to be in sync with the EUR/USD pair from the mid March lows

In fact its been in sync since the mid Jan lows

Anyhow, using the idea of a potential ending diagonal on EUR/CAD (red) we have a clue to the potential reversal of EUR/USD

So i am watching the EUR/CAD next week to see if it offer more evidence not only for the EUR/CAD pair to reverse but EUR/USD as well

There is of course the obvious H&S on both patterns

The advance since the lows made in Mid March is very corrective looking in both pairs

Friday, March 2, 2012

EUR Cross Analysis



When you are unsure of the trend or looking for clues, it helps to use other crosses for clues

In this case the other 2 crosses are well ahead of the EUR/USD pair, so the better sell appears to be EUR/USD, i suspect its waiting on the US$ to get a bid

So that should put pressure on the EUR/USD, if it catches up with the other crosses, the EUR/USD is going to be a great trade

The EUR/AUD and EUR/CAD are already in solid down trends atm

Imo its worth looking at other crosses in the group for edges

Having rallied together on the LTRO bail out fund, its clear that the market wanted more and duly disappointed, so sold off, the fact the EUR/USD has not sold off as hard, makes me want to turn my attentions to sell EUR/USD more than the other 2 crosses

Wednesday, February 15, 2012

Elliott Wave Analysis of EUR/CAD



Whats the Elliott wave count on the daily time frame??

Frankly i don't care, i just know that it appears as a 3 wave move, and i can control risk now to 13192, if this idea is correct and ended a 3 wave advance from the Jan lows, then under 129 is expected from here

A move back above 13192 negates this idea

Now the last high might be only wave [w] and the decline if it fails to break under the lower trend line could be labeled a [x] wave, but 13192 confirms or negates the current decline as a 3 wave drop, the Bears need to push this under the lower trend line