Elliott Wave 5.0 "Reboot"

Friday, January 29, 2016

Canadian Dollar Crash And Bear Trap Review

The crash of our Canadian dollar fits in perfectly with the crash of crude oil. For now I am going to give the CAD the basic wave count as oil in which we should see  "E" wave bull market in the coming next few years. I no longer have access to the consensus bullish report, but I can comment on the last reading I did have. This reading hit a low of 6% for several days in a row, which is the most extreme reading I personally have read about.  

The CAD has already come of a major bottom of about 68 cents and is pushing 71  cents at this time. 

I would expect lots of back filling and wild corrective moves, especially if we are starting out as another diagonal wave. Until our CAD makes some very disturbing inverted patterns I would remain bullish at least in the short term.  If this "ABC" Crash is true, then in the longer term our CAD should retrace 100% of its crash. 

I have hundreds of these types of scans posted and I cut and paste them together. They are strictly for a laugh and entertainment  purposes.