Canadian Dollar 2007-2016 Weekly Chart, With A Cycle Degree Review!

 

d6y00-oct-3-2016

 

Many of the commodities are not behaving like I would like them to. The reason can be because of the location of Cycle degree wave 3. Last week’s commercials have now switched to a net long position, which helps to make my case for the wave count above.  In this case I have moved my Cycle degree wave 3 position back in time, which basically does the same thing as travelling into the future, on paper only.  This may be  the first time that many of  my readers  will see a Cycle degree wave 3 at the 2007 peak.  I know that I tried this before, but I have to dig through my scanned charts to help confirm it. 

If I gave you the short version, we are looking at a potential triangle, and that a “D” wave top would be the next big target that should get hit. This may happen closer to the top of the parallel lines, as zigzags do have a tendency to stretch.   It may take some time, but chances are good “all” my commodity wave positions will have to be moved, which includes the currencies as well. 

The source of my US dollar wave counts came from EWI and based on a constant dollar, which creates different peaks and valleys. A constant dollar is about the same as an inflation adjusted chart. I dislike or should I say, “I hate inflation adjusted numbers in anything”. The only important inflation number we need to see is the one that goes into your trading account, and increases your net worth. 

The short term commodity outlook has not rallied changed, but investors are going to get a big surprise when this bullish run starts to lose steam. 

I will not give  frequent intraday reviews with the Canadian dollar, but will certainly try to catch a few good turnings, until we reach the potential “D” wave peak. 

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