Idea for USDCAD @ 5th June. 2024

Indicates the potential leading diagonal of wave (1/A), which took the form of a raising wedge pattern. It seems that the pair has started to form a new bearish wave, represented by the wave (2/B).

💫 After the completion of this upward wave, we should expect to see a corrective pattern representing the wave (2/B). This pattern should take a different form than a zigzag or flat.

✨If this occurs, we can say that as long as the price continues to trade below the level of 1.36, we expect to see another beaissh wave targeting the level of 1.334.

Trade active:

Running 150 pips