Have possible choices but, as oil completed a AB=CD after an Elliot wave we should see some downside in oil pushing USDCAD up. after a pull back in oil from the completion of AB=CD pushing the butterfly pattern to completion we can short USDCAD and long Oil for the 5th wave up Harmonic impulse wave "C" point 50 pips below butterfly pattern
safest thing to do is wait for butterfly pattern with confirmation in oil and trade butterfly pattern down to where harmonic impulse wave completes
the Harmonic impulse wave should give us a nice trade as we should be having a abc correction in oil by then
so the plan is:
-Oil should have more downside with the completion of AB=CD, then a 5th impulse wave up then an abc correction
- USDCAD should follow up to complete butterfly or at least harmonic impulse wave then big downside move with the 5th up wave in oil
- If USDCAD goes down to the bat pattern from here we trade the bat pattern
safest thing to do is wait for butterfly pattern with confirmation in oil and trade butterfly pattern down to where harmonic impulse wave completes
the Harmonic impulse wave should give us a nice trade as we should be having a abc correction in oil by then
so the plan is:
-Oil should have more downside with the completion of AB=CD, then a 5th impulse wave up then an abc correction
- USDCAD should follow up to complete butterfly or at least harmonic impulse wave then big downside move with the 5th up wave in oil
- If USDCAD goes down to the bat pattern from here we trade the bat pattern