dojitrader
Long

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

FX:USDCAD   U.S. Dollar/Canadian Dollar
202 4 1
Missed the end of e wave
Bat Pattern Completes At Bottom of Triangle

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
dojitrader
3 years ago
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
dojitrader
3 years ago
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
dojitrader
3 years ago
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
3 years ago
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
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