FX:USDCAD   U.S. Dollar / Canadian Dollar
After exponential growth, we began to fall and formed a triangle with horizontal support, I have seen this formation many times. for example, bitcoin did show such an e formation and at the end of the triangle, we broke a support line. In this case, I think we will reach the support line of the triangle after that we can touch the trend line .

Best regards EXCAVO
Trade closed: target reached
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Comments

Great call. This is what I asked in the last comment that how do you pinpoint so accurately that where the bounce will occur so one should take profit and then go back in etc. Can you be kind to share your wisdom?
+4 Reply
EXCAVO aa2016
@aa2016, thank you
Reply
I have almost similar idea like this for USDCAD that it has a downward movement and if we have a 4th wave of truncated or falure impulse wave as i've shown on my idea then it shouldn't go under 0.618 fibo ret of 3th wave .
+1 Reply
good job
+1 Reply
EXCAVO ab03li
@ab03li, thanks
Reply
Thanks for the great post respectfully. What makes you be sure that USD/CAD will go down to 1.38650 ish and will rebound? Why not at 1.39230 ish for a rebound? Sorry for asking basic questions, I am learning and your detailed explanation will be greatly appreciated.
+4 Reply
EXCAVO aa2016
@aa2016, you are welcome
Reply
I see the same thing on USDCAD, oil bullish after demand has picked up and factoring in the current supply cuts later on, as the next contracts for the next months come through it will continue to rise. I see the USD devaluing as time goes on
Reply
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