It could continue to Fib Future D at at 1.37144/1.37135 - I think it'll be out of steam by then, 1.3700 would be a safer bet, if it makes it that high. There are signs of reversal in RSI and Stoch (Divergence) - beware.
Once turned I'd expect it to make it's way back down to major support at 1.38535. The whole trend is almost 500 pips so it's due a turn. I'll be...
I'm working through all the USD pairs and I have also spotted yet another fall from USD similar to a post I shared with DXY and EUR/USD.
I have 2 counts in my head with this being my primary:
1. 5 wave Impulse down from the top for a wave 1 or A
2. Corrective wave 2 or B which has a ZZ shape but with an ending diagonal wave C
3. Of the C wave, wave 4...
Hi traders, here i want share with you my usdcad short opportunity. Recently price broke the purple trend line and here is change that price will now bounce from it. Also price was made double top, everything according 2618 trade strategy.
Have a nice day.
On the USDCAD we have a nice flag taking shape on the hourly timeframe. I'm not waiting for a closed candle below the trendline and enter from there. Target will be the 61.8% Fibonacci retracement.
Target willbe 1.31850.
Alright so the BAT PATTERN on the smaller timeframe seems to be INVALID. The reason why I suppose that is because normally a BAT PATTERN complete at 88.6% and 161.8% BC projection. BUT... there is a big BUT!!!...
A PERFECT BAT PATTERN complete at 88.6% and 261% BC projection IF B = 38.2%... There is a SECOND PERFECT BAT PATTERN, D point can BE 88.6% and 200% BC...
On the USDCAD we are very close to the completion of this AB=CD pattern. I think we will hit it as soon as the market is open.
Target: 1.30991 = R:RR 2
Good luck guys! Updates will follow.