USDCAD H4 ABCD - simple as that

Long

U.S. Dollar / Canadian Dollar (FX:USDCAD)

Updated

FX:USDCAD U.S. Dollar / Canadian Dollar

loonie abcdpattern cd=1.27ab harmonicpatterns usdcad

Potential AB=CD confluenced with low RSI(7) (actually very very low!) - I think somewhere here should be great time for bounce back. Limited support from S/R zones - couldn't find anything really strong. Also it should be noted that on higher timeframe there are some bigger correction 'objects' - one of them is 1.27 of ABCD of here - so there is some chance this fail, but still there will be another chance to enter trade on 1.27of AB (notice confluence with last bottom).

Have a great weekend!
Leszek

Comment:

Still in trade. USDCAD cannot decide... and actually it is difficult to say there was proper reaction. I'd say - there wasn't... Anyway, let us wait and see...

Trade closed: stop reached:

Stopped. My usual stop is 117%

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