USDCAD H1 One more up to complete H4 wave B
H4 I was expecting to see a C wave down ( See USDCAD H4 Internal C Down Idea) but looking at price action I think wave B not over.
H1 We have no bear div between W and Y and wave Y high was broken by a few pips so I see the possibility of an expanding flat in X before we get the Z up.
There's no confirmation Internal wave C down is over so price can push lower so wait for confirmation of more upside before buying. No one knows where wave C will end.
1) Invalidation point the yellow line at the low of X
2) Wait for TL break and bull flag on lower TF to confirm more upside before taking an entry.
3) TP 123.6fib extension (this level will change depending on where internal C wave down end's)
NFP coming out in a few hours so take this into consideration before taking any position.
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It might pay to check out the earlier USDCAD H1 idea running flat that gave no trade, Check out the details for full rundown. Thanks
H1 We have no bear div between W and Y and wave Y high was broken by a few pips so I see the possibility of an expanding flat in X before we get the Z up.
There's no confirmation Internal wave C down is over so price can push lower so wait for confirmation of more upside before buying. No one knows where wave C will end.
1) Invalidation point the yellow line at the low of X
2) Wait for TL break and bull flag on lower TF to confirm more upside before taking an entry.
3) TP 123.6fib extension (this level will change depending on where internal C wave down end's)
NFP coming out in a few hours so take this into consideration before taking any position.
If you would like to see more trade setups like this, hit the follow button. If you like my analysis, hit the thumbs up so others get the chance to see this potential setup and you get updates on the trade!
Thank's to all the traders in advance that hit the thumbs for your support!
It might pay to check out the earlier USDCAD H1 idea running flat that gave no trade, Check out the details for full rundown. Thanks
Comment:
If your not in the trade looks like were getting nice flag on m15, If price doesn't break below red line you can only enter break of top of flag.
Trade closed: target reached:
So price has pushed up to the 1st TP, It doe's look like there's more upside to come so experienced traders can scalp the longs but I see upside as limited for now. I will start looking for the sell's.
