Nice buying opportunity on usdcad
WEEKLY set up, SWING
Stop loss: 129.400
-Under every lows and structure
- at the .38 of the retracement for a first tp in mind!
Fifth Eliot wave!
Same price range as the ranging market!
-200 DEMA, 200 4hEMA
-.50 FIB of the push
-4th touches of the waves
-Third touches of the TL(channel)
ALSO ON THE COUNTERTREND
-5th en last wave
TAKE PROFIT: 1.70
- FINAL wave
- Third touches of the TL(channel)
- -27 OF THE BIG FIB
- Psychological number
Could see a potential break of the zone around 1460-1466. This little retracement is just normal for the countiuation of a bigger downtrend.
Potentiel 1000+ pips, Stop loss around 1459 nice risk reward as well.