USDCAD - Continuation to the upside ?
We got a Leading Diagonal for wave 1 and a Flat correction for wave 2.
If that's the case, this move higher is wave ((i)) of higher degree wave 3 and the corrective wave ((ii)) might be in place as it turned at the 61.8% retracement.
We should therefore expect wave 3 to develop in a 5 wave move to the upside.
The count gets negated if price moves below wave ((i)) low.
*** Trade Setup ***
* Entry : now or on pullback.
* Stop : last low or wave ((i)) low.
* Target 1: 1.3540
** Target 2 : 1.3710
If that's the case, this move higher is wave ((i)) of higher degree wave 3 and the corrective wave ((ii)) might be in place as it turned at the 61.8% retracement.
We should therefore expect wave 3 to develop in a 5 wave move to the upside.
The count gets negated if price moves below wave ((i)) low.
*** Trade Setup ***
* Entry : now or on pullback.
* Stop : last low or wave ((i)) low.
* Target 1: 1.3540
** Target 2 : 1.3710
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Moving Stop to Break-even