July 15th – USDCAD

While I was long using P&F in search for a wave 5, I exited my position yesterday with a small gain. Now I prefer to stand on the side because the strange price action we are seeing. Key Support is currently at 1.2818. Below this level we will need to search for a different explanation and perhaps even change our expectations.
Having said that P&F is still holding the trend as up. But checking a larger Box size you may see a Pole…

Houssine

Prof. Aldo Lagrutta is an awarded Certified Financial Technician from the International Federation of Technical Analysts and holds several financial market designations, including the coveted Certified Elliott Wave Analyst.

He is a also a member of the Society of Technical Analysis, holds the CFT’e and is a recipient of the Bronwen Wood Prize bestowed by the Society of Technical Analysis in London.

Prof. Aldo Lagrutta grew up as a music child prodigy and became the youngest Professor to teach in several universities and conservatories around the world. He performed for 2 decades as a concert guitarist in Europe, Africa, North and South America.