How much is needed.... - page 6
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I have news - USDCAD has matured and will go up. Nearest target is 1.0200..... What is your opinion ?
Can I put it in words?
Just marked out the chart, the usual trends - support - resistance.
The movement towards 1.0200 level is justified, there is a support.
This is just an illustration of the forecast with my additions.
Can I put it in words?
Just marked out the chart, the usual trends - support - resistance.
The movement towards 1.0200 level is justified, there is a support.
This is just an illustration of the forecast with my additions.
I have three waves up on VTE....Although the distance to clarify the end of wave 2 and the start of wave 3 is still there...
I have three waves up on VTE....Although there is still distance to clarify end of wave 2 and start of wave 3...
Switched to H4...
If you don't mind, a couple of comments on the picture for the VTE pro.
Switched to H4...
If you don't mind, a couple of comments on the picture for an expert in VTE.
The identification of three five, for trading purposes, seems to be enough....The youngest five, of course, will be constantly jumping, changing, in most cases, the end of the second wave and the beginning of the third wave....but as long as it is included in the two leading five, it will not go anywhere, although, according to my observations, fluctuations can be significant, depending on the instrument, from 100 to 150 p.
Note that the position is already in the plus +16 points. Although, of course, I think there will still be pullbacks. If the pullback is good (100 p.) and the junior wave is still relevant, then I think it is safe to strengthen....
But, as the upward movement is at the very beginning, i.e. high probability of fluctuations, I closed $20 and put a limit in the former position....
And here you go, once again the limit switch at 0.7915 on NZDUSD has triggered...VTE says there should be an up move, min.target. 0.8000 has not yet been reached...
So, USDCAD H1, the run lines are signed.
Rationale:
Fibo thrown by strong levels, it shows a former test of 161% and a subsequent 23% pullback in price.
On the OBV indicator there is a converging trend of 5 waves in a pennant. I.e. lagging indefinitely.
Stochastic-100 has a confirmed resistance, current valuation below 34% == downward movement or consolidation.
The velocity indicator, the lower red-green window shows == fading movement.
These signs make one look for a forecast within the Fibo range of 0-100%, with the expectation of a breakdown down a short distance.
In this situation, it is logical to take the Bottom Saporta forecast.
(Finding this saporte) The yellow saporte on the main chart is drawn by CLose to exclude "random" outliers.
Of its possible positions the average is chosen, not the lowest and not the highest,
(this was done based on a pennant on OBV, and Stochastic < 50%))
Until the pennant on the OBV is completed one should be careful in predicting an upper level,
I.e. based on the apparent consolidation looking for an upper level among those previously confirmed.
That is why the upper forecast was made with some reserve by the Fibo level of 83.8%, (may be, one of the whiskers will kick in))))
Conclusion: This pair will not be volatile enough till the end of the week (95% confidence probability)