How to Join the Usdcad Bull Party!

On July 6th, I predicted a bullish move of this pair and it hasn't disappointed a bit as I have been picking profits along the way, hope someone is doing the same?. You can read that analysis HERE

For those that didn't join the party, I perceive an opportunity to be a part at a crucial level that promises a beautiful risk/reward.

I still maintain a general bullish bias on this pair, but as we all know that markets retrace at some crucial zones to change its movement or resume.

I will be going by my usual wave counts and harmonic pattern analysis.

Starting with 1hr time frame, a crucial gartley will be completed at 1.0875-1.0890 ( a potential reversal zone ) and resting on different resisting horizontal and diagonal lines.

On the 4h chart, there is an end of wave 5 pattern about to be completed, probably at the zone mentioned earlier, if that should be the case, a reversal is imminent to drive price to indicated ''Quick target zones'' before the bullish move resumes.

In other words, price broke 1.0820 in high momentum,  a retest follows and the bulls continue.

The expected short bear is for short nap trades and if 1.0820 is bridged downward in high momentum, well, the party might be over.

Conversely, if the aforementioned reversal zone is broken high and high, the bus is not waiting now and it's all well.

Note: Make sure you understand this analysis before interpretation. It's not a call for trade. It's the view of a trader and caution should be taken.It's for educational purpose and not a call for trade. You can contact me if you have any questions

For partnership, fund management and mentorship, you can contact me
E-mail: sanmiadeagbo@yahoo.comFacebook: Sanmi AdeagboTwitter: ForexelytePhone contact: (234)8134820569
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Eurusd Short and Long term Analysis

Hi folks, it's been long I haven't posted here. I am sorry for not have been around. Of course a lot of things have happened. Recently deepened myself into some studies. I just love my charts- like my wife . 

Well, here is my analysis on the most popular pair-Eurusd

Taking into account the H4 elliot wave analysis on the bearish move from 1.3700, wave 3 is about to be completed after completing a 5-wave elliot swings and resting on a diagonal support, a push to 1.35100 resistance is thinkable and highly probable in order to give us a wave 4, from where we can sell again for large profits.

On the daily chart, 1.3510 was bridged convincingly and a retest is possible for a further push  down to 1.3300 ( A support)  and 1.3100 ( convergence of nearly 1.618% extension of wave 1 from 2 and a level of support).

I expect Eurusd to retrace and them push down. I am still strongly bearish but I am going to take a bull short aiming 1.3510 or lower
The analytical charts below on H4 and D1 will give you a clearer picture.

NB: This analysis is risky and care should be taken in interpretation. You can drop your comment or mail me if you have any question . Please this is for educational purpose and should not be taken as a call for trade.E-mail-sanmiadeagbo@yahoo.com

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Phone no: (234)08134820569Please let me know if this blog has been helping someone by your comments  and you can also contact me if you need a trading partner,mentor or fund manager

Why Selling GbpChf is not a bad Idea.

This bearish run on this pair is imminent and it's just a matter of time. With mouth-watering patterns forming, potential pips are to be made shortly with the weekly, daily and 4hourly charts embracing the bears.

On the weekly chart, a successful BAT has just been concluded just at the roof of a strong resistance trendline.

On the daily, a bearish BUTTERFLY is completed with an engulfing bearish candlestick pattern forming.

The terminal zone ( 1.5280-1.5380) is a very strong price reversal zone.
In the analytical chart shown below, I analysed with the D1 chart only in order to see a PICTURE ( how a BAT  is pregnant of a BUTTERFLY) and all these are happening at the roof of a channel. Thinking bearish in this case isn't bad at all.

Going by the 4 Hour chart, an end of wave 5 Wave-pattern has been successful at the same resistance level afformentioned. and unsurprisingly, 4H has responded to the bears in its own way waiting for the big boys to join the move to provide an explosive run before the bulls will wake up, if they wake at all.

With all these, I see price coming to 1.5185 ( short term), 1.500,1.4920 and 1.4816 before the bullish would gather momentum to counter the move. If the rising pink trendline on D1 is broken down-side, price could be broken loose to 1.4150 and below. It's just a matter of time.

NB: This analysis is long term and care should be taken in interpretation. You can drop your comment or mail me if you have any question . Please this is for educational purpose and should not be taken as a call for trade.

Please let me know if this blog has been helping someone by your comments  and you can also contact me if you need a trading partner,mentor or fund manager
E-mail-sanmiadeagbo@yahoo.comFacebook- sanmi Adeagbotwitter- ForexelytePhone no: (234)08134820569

Why I bought Usdcad

Let me start from the bigger picture- the weekly chart. This pair is setting to form a potential 61.8% gartley pattern at 1.170 and its neighbourhood and  wave analysis in support of this potential makes this thought stronger.

Going by the wave count which started July 2011; wave 3 has successfully completed at 1.1266 and price retraced to the present level ( a potential wave 4) and I am expecting price to push up from here or anytime soon and break the wave 3 to form a wave 5.

1.1700 is a very strong price magnetic zone due to the convergence of Fibonacci extensions and retracement  (check the weekly analytical chart below) and a Resistance . Wave 5 could potentially end there.

How are we sure, to a certain degree, that wave 4 will be formed there. This can be answered by zooming down to the daily time frame.

Now, to the daily time frame. Price has successfully completed a gartley pattern (check the daily analytical chart below) and I expect a big move up.
I started buying on 3^rd of this month and I’m still holding on with stop loss at 1.0560 and targets at 1.0800 and 1.0950 for the time being. I expect price to break 1.1280 to form a new high at 1.170 or thereabout .

On the other hand If price go down to break 1.0500 with high momentum, this analysis is invalid and I might have to look again.

NB: This analysis is long term and care should be taken in interpretation. You can drop your comment or mail me if you have any question . Please this is for educational purpose and should not be taken as a call for trade.

Please let me know if this blog has been helping someone by your comments  and you can also contact me if you need a trading partner,mentor or fund manager

E-mail-sanmiadeagbo@yahoo.com

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Phone no: (234)08134820569