There seems to be some good confluence at the price level of 1.1621, where there is a Fibonacci extension by 127.20%, (rebounding off a 61.8% retracement). A possible formation of the gartley pattern is also being shown. Finally some strong resistance at this point making it a great trade to enter. A short will be the most ideal, however, you could decide to go...
Nice formation of the eliott wave here. The USDCAD has truly been a sensation to trade as there is clear trend here through the use of both Support and Resistance, eliott wave and price action
Possible gartley pattern forming which is important, especially as NFP and Unemployment claims come out tomorrow. I expect to see aggressive movement to the upside, should the NFP's actual be lower than what was predicted and vice-versa. Great Risk-Reward ratio at 3+ which shows it is a great trade to enter.
THIS IS NOT A SIGNAL TO LONG OR SHORT JUST AN IDEA. Possibility of a gartley pattern forming, however if it shall hit 1.3299 point this will be distorted and therefore invalid, what your view?
