Let's check Goodman wave theory on USDCAD
The trading setup is coming on the third propagation swing.
There was no dagger formation at the bottom of today's fall (1.330) that could inform for entrance into the long. That's why I'm waiting for getting the price back to 1.3290 on the inside wave and buy after the formation of the dagger and RSI confirmation.
If I missed the entrance on 1.330, then the point is 1.3344 with the long continuation.
The TP for both cases is 1.34065 as a middle of the jumbo line.
There was no dagger formation at the bottom of today's fall (1.330) that could inform for entrance into the long. That's why I'm waiting for getting the price back to 1.3290 on the inside wave and buy after the formation of the dagger and RSI confirmation.
If I missed the entrance on 1.330, then the point is 1.3344 with the long continuation.
The TP for both cases is 1.34065 as a middle of the jumbo line.
Trade closed: target reached:
entrance on 1.3344 brought profit.