From our previous analysis, we had to step back and separate which part was an impulse and correction and label correctly to identify where we have the highest probability of taking a trade.
As you can see from the chart, we are approaching the end of the C wave (1.206) where we will be looking for buying pressure. If we copy the length of the first Major impulse and paste it at the bottom of wave C, the impulse takes us EXACTLY back to All Time Highs! That can't be a coincidence! Can it?
See chart update for the smaller timeframe analysis.
1.2000 should be stop loss now or not ? plz rep asap
MH100
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I assume price will play around that area. If you can afford to go a little below 1.2 then do so because you might get stop-hunted right at 1.2. 1.2 is a really strong quarter point, it’s time for this pair to go up but it’s playing around this area - and it go on or a little below 1.2 before doing up.
aamna_140
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where do u suggest sl to be
WicktatorFX
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@aamna_140, depends on how you enter. Safe entry - entry will be on breakout of flag and stoploss will be below flag
Risk entry, under buying pressure
Red769
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Still no up move, usdcad is killing me 😂
Sophiaelias
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This would make a super swing trade :-)
Farhad-91
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Not too sure. USD is weak and no signs of slowing down.