ΣL Canadian Dollar Composite - 24th January 2024 | @ 78 Days | - 0.06%
Last trade: - 0.06% | 'C' class signal: Sigma-L Canadian Dollar Composite (USD/EUR/GBP/AUD vs CAD). Average wavelength of 78 days over 14 iterations since January 2021. Currently peaking.
ΣL Cycle Summary
Although this wave is outstanding in USDCAD, there is some interesting modulation occurring when the composite is constructed and our analysis via it’s time domain average. Most obviously a periodic component around 50 days which has some significant power. For this reason the signal is a lowly ‘C’ category, not withstanding the excellent periodicity shown in USDCAD alone. The last trade was an early buy and certainly proved to be just that, with a drop subsequent to the 5th of December mitigating gains. Overall, GBP outperformed in an overall pretty asinine move up for this composite - the downside now beckons until early March, according to the current phasing.
Trade Update
See also: Live ΣL Portfolio & History
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous post for this instrument, linked below.
Type: Early Buy - ΣL Canadian Dollar Composite 5th December 2023
Entry: 5th December, 2023
Exit: 24th January, 2024
For a composite analysis, each constituent’s respective gain over the period is displayed, in descending order. The average of the constituent gain is also shown.
Constituent Gain:
GBPCAD (0.53%)
EURCAD (0.09%)
AUDCAD (-0.08%)
GBPCAD (-0.79%)
Composite Average Gain:
-0.06%
Current Signal Status
Defining characteristics of the component detected over the sample period.
Detected Signal Class: C - learn more
Average Wavelength: 78.18 Days
Completed Iterations: 14