Hello! I have for you very interesting long idea, but if you want to earn money on this trade - you need discipline. It's very hard, I know. Because of that I suggest you targets, and more important, I give you Stop. If you have question, why I placed Stops there, ask me in PM (or read Elliott wave theory).
Wave i ...
On the chart you can see 5-wave impulse, after that ABC correction, so now we have good entry point: low risk with tight stop, because if price go down my idea will be invalidated. And big potential profit!
Divergence on MACD between a and c waves.
Hello TV! I have sell setup for EURCAD based on Elliott wave theory. I've found 5-wave impulse (on the chart), after that we can see correction, finished on 78,6% Fibo retracement. Now I'm waiting the next impulse down. Stop placed several pips above of Wave1.
So we have very perspective R/R trade setup:
Idea based on EW count.
Now we've finished wave 5 and ready for reversal. MACD can help in wave counting. Details on the chart.
Divergence on MACD between wave 3 and 5 - it's very typically for such case.