Candles, Channel & Wave Count Calling for Reversal
USDCAD is at an inflection point where it can pull back and retrace against the move up from 1.3038
Most of my trade setups for the entire month have been long USDCAD. (Check related ideas). As the move progressed up, the wave count kept showing further upside where several market participants started getting bearish.
At this point, the count is complete from 1.3038, and we should see a pull back. The larger structure is still bullish, so not expecting a capitulation here.
The 61.8% Fib confluences nicely at the moment with the bottom of the channel
Most of my trade setups for the entire month have been long USDCAD. (Check related ideas). As the move progressed up, the wave count kept showing further upside where several market participants started getting bearish.
At this point, the count is complete from 1.3038, and we should see a pull back. The larger structure is still bullish, so not expecting a capitulation here.
The 61.8% Fib confluences nicely at the moment with the bottom of the channel
Trade ativo
Tightening stops to 1.3280Nota
Correction - Tightening stops to 1.3380
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Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.