On this chart we measure the valley formed on 10 May 2021 which peaked out on 14 October 2022. Applying our fans we can see a very nice symmetrical pattern where all of the price action is neatly contained within the 4:1 and 1:4 lines. Overall, it’s a relatively shallow rise over the span of a year or so. However, it made a decisive move in September by piercing the 2:1 line. We’ve had some choppy trading since hitting the peak but the fall couldn’t break the descending 1:4 line. According to principles this instrument is clearly going up at least until the declining 4:1 line. A break above the 8:1 line could see significant upside potential. While a fall below the 38% on the Timing Box would indicate renewed dollar weakness. Happy Trading and Happy Holidays!
I use external software to calculate the angles. The software uses a fixed grid calibrated per instrument. I use the TradingView to illustrate the analysis. It is not used in the calculation so the angles do not match your viewport orientation. Please see my angle gauge for a 360 degree representation of the calculation result using the current instrument price as of this date. The peak angle is represented using negative coordinates so as to preserve the parlance and event recognition. It is not part of the formal indicator.
trader who developed a method using geometric angles to forecast price movement. The core of his work relies on and lines drawn at fixed rates of speed. He is also the author of numerous finance books and trading courses. Although he developed several time and price indicators, this analysis uses only two: the and .
The CAD is the official currency of Canada since 1858. The Canadian Dollar is a global reserve currency ranking as the fifth most held by central banks. Canada itself is a nearly two trillion U.S. Dollar economy measured by gross domestic product. It is a country rich in natural resources specifically lumber, minerals, oil and natural gas . In the forex market, the value of the CAD fluctuates in response to demand for its natural resources pegging the USDCAD as a commodity currency. In addition to its resources, Canada is a major exporter of finished goods. Namely, aircraft, plastics, equipment and machinery. Also, Canada has a vibrant local economy and is subject to much cross border activity with the United States. Needless to say, this is a very stable and widely held currency that sees its cross rate value strengthen during favorable RORO periods.
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