Good Day All,
USDCAD
I am currently seeing some bullish momentum short term finishing off an inner smaller time frame flag within a longer term bearish trend. We had a pennant brake from the top which fell to a support trendline that held creating our current major flag, I am currently looking at an Elliot correction ABC wave finishing off which I am looking to get in short at yearly resistance point 1.38000. with stop loss at 1.38300. This will be my first entry for my major swing trade. I am then looking for a break of the flag structure and a retest creating my second entry point which I will update closer to the time. My first take profit will be at major support zone 1.34000 which I am looking for a possible break and retest to continue the downside with a third entry on that areas to be updated closer to the time. This will then lead to my flag pole length target for final TP zone at 1.32500 where I will re-evaluate all my swing trades to see where we are heading from there.
This will all be shared on my Telegram group for free and also when I enter and exit the markets.
Please take note Forex is risky and this is my opinion and biased on the markets and could be wrong please use proper risk management if followed and let me know if you trade any of my ideas.
USDCAD
I am currently seeing some bullish momentum short term finishing off an inner smaller time frame flag within a longer term bearish trend. We had a pennant brake from the top which fell to a support trendline that held creating our current major flag, I am currently looking at an Elliot correction ABC wave finishing off which I am looking to get in short at yearly resistance point 1.38000. with stop loss at 1.38300. This will be my first entry for my major swing trade. I am then looking for a break of the flag structure and a retest creating my second entry point which I will update closer to the time. My first take profit will be at major support zone 1.34000 which I am looking for a possible break and retest to continue the downside with a third entry on that areas to be updated closer to the time. This will then lead to my flag pole length target for final TP zone at 1.32500 where I will re-evaluate all my swing trades to see where we are heading from there.
This will all be shared on my Telegram group for free and also when I enter and exit the markets.
Please take note Forex is risky and this is my opinion and biased on the markets and could be wrong please use proper risk management if followed and let me know if you trade any of my ideas.