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USD/CAD: technical analysis 15 October 2019, 12:43

USD/CAD: technical analysis 15 October 2019, 12:43 Scenario Timeframe Weekly Recommendation BUY STOP Entry Point 1.324...

Jul 12, 2019

American Express Co.: wave analysis 12 July 2019, 09:47


Scenario
Timeframe Weekly
Recommendation BUY
Entry Point 127.25
Take Profit 132.07, 136.00
Stop Loss 125.65
Key Levels 108.08, 113.78, 120.81, 132.07, 136.00
Alternative scenario
Recommendation SELL STOP
Entry Point 120.75
Take Profit 113.78, 108.08
Stop Loss 123.15
Key Levels 108.08, 113.78, 120.81, 132.07, 136.00
The trend is upward.
On the 4-hour chart, the fifth wave of the higher level 5 of (5) develops. Now, the third wave of the lower level iii of 5 is forming, within which the wave (iii) of iii is developing. If the assumption is correct, the price will grow to the levels of 132.07–136.00. In this scenario, critical stop loss level is 120.81.


Main scenario
Long positions will become relevant during the correction, above the level of 120.81 with the targets at 132.07–136.00. Implementation period: 7 days and more.
Alternative scenario
The breakout and the consolidation of the price below the level of 120.81 will let the price go down to the levels of 113.78–108.08.

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