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Short

USD/CAD - Bearish Minor C - End of Correction

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
USD/CAD             previous Bearish views and set-ups worked out amazingly good and the Members cashed in some impressive green pips.

Previous Articles:

USD/CAD (dollar/loonie) - Elliott Wave - Long Term Forecast - BUY & SELL
USD/CAD-Dollar/Loonie – Bearish Break-Out – Intermediate (C)

Now it looks like another Bearish Wave could be preparing, therefore, I am signalling the alarm once more because we could be in for another dip.

Intermediate (Y) (red) is expected to complete along with Minot C (red).

Minor B (red) Technicals:

61.8% Fibonacci Retracements of Minor A (red)
100% Fibonacci Extensions of Minutes w&x (purple)
150-161.8% Fibonacci Extensions of Minuettes (a)&(b) (orange)
Decreasing volumes pointing towards an upcoming Bearish Divergence
As you can see, the Fibs are aligning for a possible Bearish outcome.

USD/CAD - SELL Positions:

Moderate Entry @ 1.3100 with SL @ 1.3400
Conservative Entry @ 1.3330 with SL @ 1.3600
Targets @ 1.2800 / 1.2500 / 1.2200 / 1.1900 / 1.1600

Many pips ahead!
Trade active: :)
Comment:
Comment: Sl @ BE
Trade closed: target reached: Booking 500 pips!



USDCAD ready to correct. Will return with the SELL later on.
Trade active:
Comment:
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USD CAD is going to reverse from 1.28?
Reply
@yansy84, This view was posted for free with possible entry at 1.3100 and it dropped like a rock approx 600 pips since then. Now it's a bit delicate for me to answer this question because the structure would still allow the second entry to be reached as a final move within Minor B (red) in Minute Y (purple). If you are looking for a sell, you are a bit too late I would say and it would be risky just to take it in the middle like this. Up to you where and if you take it, I don't give advises. I hope you get the point.
+1 Reply
yansy84 Lionheart-EWA
@Lionheart-EWA, thanks.
Reply
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