dojitrader
Long

Seeking {successful} Second Wave Triangle Test . . . .

FX:USDCAD   U.S. Dollar / Canadian Dollar
202 4 1
Missed the end of e wave

Either we've seen the end of wave 5 thrust from this triangle
or it is about to extend in 5 waves to the tri             projection that
is right around 1.1425 from a simple a-b-c correction into
nice support at the trend line break .
Target 2 is the length of wave 1 depending on where
wave c finally reverses.
The question awaits an answer . . . with one more zig
and then a zag to end c wave with the candlesticks confirming
an entry trigger around 1.1140/20
Not exactly the 4th and 5th waves I was hoping for, but, there is
a potential double bottom forming on the hourly chart against the
dragonfly type doji 9 hours ago with some divergence on RSI
So, I'm in @1.1137 with stops just below the resent lows @1.11199
Small risk with the idea this is the 2nd wave bottom
Reply
dojitrader dojitrader
Not looking too smart now. I must be trying to give back
my profits form the GJ trade. Out on stops but keeping
an eye on a possible reentry on the hourly chart.
Reply
Didn't get my price @1.1120 and I'm not quite convinced
this proposed c wave is complete. It would take an exaggerated
imagination to see 5 waves within c wave at this point. And, even though there is
a "dragonfly doji" on the hourly chart, I'm waiting for more evidence
the bottom is in place.
Reply
We're in the buy zone but have yet to see the zig, or was it a zag that
would make this c wave look right. Maybe, if we get a price print of 1.1120
would be enticing enough to enter. Candlesticks not showing much help
for now either.
Reply
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