glennmercer
Short

USDCAD SHORT: RIDE WAVE-((iii)) DOWN

FX:USDCAD   U.S. Dollar / Canadian Dollar
One the 4H timeframe, we have a nice triple three correction which has potentially reached its completion with this wave-((z)):


We are now seeing wave-((c)) of a potential expanded flat, which if true will mean the third and fifth wave are coming which means strong bearish price action. The stop is tightly placed above the beginning of wave-(i) since rally above this level invalidates the breakout and likely points to a potential fourth wave triangle. More updates to come...
Trade active
Trade closed: stop reached: Trade closed, we have ourselves a triangle continuation:


Now, I'll wait for the final wave to complete to find a bearish impulse and pullback to re-enter (unless invalidation level is violated).
Comment: Here my trade setup for the short opportunity that followed:

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