Waiting for it to break 84.477. Will then look for my sell setup. This sideway move that contains 5 waves is the 4th wave of the C wave. Therefore, I'm looking for that last impulse (5th) to the downside. Targeting 127 minimum / 161.80 maximum.
Made two different charts on USDCAD which became confusing. Made this one to stick to my analysis which has shifted from being short term to now looking for a long term short setup.
As we speak we are making new highs. Will update once we get the reversal obviously, now its just more sitting and watching it.
USDCAD closing in on 1.29253. Looking for short setups. If it extends towards 1.29970, i will become medium/longer term bearish (keep the trade for longer).
I am biased that the complicated structure is in play compared to the fact that it will shoot up in a straight line towards that 1.29970.
Made an impulse, correction got the last impulse just waiting for it to break that low.
See what occurs after that. Will we get that impulsive reversal or consolidate? Just sit and wait for it to develop.
Expecting an all-time low.
Just for me but wanna save it for humble brags if it goes through.
Min: 27.20 fib and Max point is: 61.80. However we are already seeing struggles at this current price and divergence, MACD 4C that is.
NZDUSD Long at 88.60 or play it safe and wait for the red TL to break, buy the pullback. TP = between -13 / -27 fib. After that short it, towards a new low below the 3rd wave.
* Also a possibility of a truncated 5th, 5th wave ending = near the 3rd wave and NOT below it, however I do not expect this to happen.
We are currently in the final C wave look for shorts between 113-127 fibs. Place ur stops above 127.
The C wave completes a bigger 3 wave structure before starting a larger final 5th wave down. People have been discussing the possibility that it is a triangle but the most recent price action may have confirmed it is not.
For now, observe. The downmove will be...
The plan is to look for exhaustion by looking at the MACD on the daily, it is suggesting just that however if it breaks downside is limited.
Currently I want to look for buy setups around the 50 / 61.8 fibs. 50 is possible but i believe 61.80 / the lower yellow TL is a dream scenario. In order for this corrective structure to be invalidated we have to break the...