British Pound And Canadian Dollar Cycles
Many of you have been asking me to post some charts which shows the long term cycles for the Canadian Dollar and the British Pound so here they are. I apologize for taking so long to post these charts and respond to your emails.
Above is the 8 year cycle in the British pound and in my opinion it appears that this cycle has bottomed a few months ago and that the long term trend should be up for quite sometime. Having said that, my plan will be to take technical buy signals only and use sell signals to either take profits on longs or tighten up trailing stops on existing long positions. Technical buy signals as far as I am concerned are pullbacks and breakouts that meet my criteria.
Below is a weekly chart of the Canadian Dollar along with the approximate 11 month cycle that I've been following in real-time on this blog. This cycle has been accurate and has helped me catch some nice moves in this currency in the past. As you can see in the chart below the Canadian Dollar has already established its 11 month cycle low and has been moving higher. I totally missed buying this currency a few months ago and I feel the risk to buy it here is too high.
1 comment:
Kevin,
Why cable can't dip first then go up? Thanks!
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