My USD/CAD analysis

Discussion in 'Technical Analysis' started by TraderDTS, Feb 9, 2010.

  1. Last week I have made +376 pips with my method.

    My USD/CAD analysis:

    3.1 USD/CAD WEEK
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    The situation has not changed since the last week. A downtrend, the price is getting ready to attack a weak reversal level 1/8 once again. On the way to the target there is a strong reversal level 0/8. There is a high probability of a reversal or a strong retracement of the trend from level 0/8.

    3.2 USD/CAD DAY
    [​IMG]

    The situation has not changed since the last week. A downtrend. The price moves in the trading range and therefore may linger there (a flat period has started). The price has exceeded the time frames and for the further analysis we need to reconstruct the template using new extremes.

    3.3 USD/CAD 240
    [​IMG]

    We see an uptrend. The first target along the trend almost coincides with a strong reversal level 4/8 which is significant on weekly charts. There is a high possibility of the trend’s reversal from this level, which is the case.