GWaves

$USDCAD | Bearish WW/Geo | Targets Defined

FX:USDCAD   U.S. Dollar / Canadian Dollar
Hello Traders,

USDCAD             is looking at a potential top with the current upside move. Following the Daily chart we are looking at a potential Head and Shoulders Pattern that would also help us define point 4. That rationale in and of itself is speculation since point 4 is near impossible to predict in a WW.

Looking at the higher time frame we get this view of the potential downside move.



Consider the following:

Darkest Red = Very High Probability Target, Low Probability Reversal
Medium Red = High Probability Target, Medium Probability Reversal
Lightest Red = Low Probability Target, High Probability Reversal

Stay tuned for further developments.

Best,
Chartistry
Comment:

Although the Geo was invalidated, the Highest Probability target was hit. I expect the Medium Probability target be hit and for that area to act as a catalyst for the higher time frame WW in progress.

Best,
Chartistry
Comment: USDCAD hit the second target as expected in H4 time frame.



Price was stopped short precisely at the structural level Defined in the Daily Chart.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out