Watch the yellow box I have here for another restest and see what happens. I am predicting an expanding flat , that is almost complete in this zone (we love trading the END of corrections) for more downside. At least equal bottom, more could come though.
I just got in, the R/R Ratio is just too good in this spot. We should see some big oil upside soon enough, which normally leads to some USDCAD downfall. I anticipate them using the elections as a 'reason' for the move.
Anyway, you can see my entry, TP and SL on the charts. Enjoy!
This clearly looks like the 5th wave down, so I always set TP to the equal bottom with the last move for upmost safety. That red line you see is a daily price action structure line, so for sure going to see some interaction down there again.
I have not published in a long time. Lots of hours in the trenches, and with a friend we are testing a new oscillator combined with price action that is working well.
This trade was taken on the m15 time frame, TP set at previous H4 structure.
You'll be seeing a lot more posts of my entries moving forward trying to keep the charts as clean as possible.
Higher timeframe correction needs to be completed for either an expanding or running flat. If you trade it, you anticipate the running flat. We always hope for an expanding, but never try and predict it, always take profits early.
This overall needs more downside to me, but for now I like this look of this harmonic. Let it correct and around London session I will look to do something. Entered the other day and I will hold it, I am looking for another position. Current position should yield 320 pips.