EURCAD - Breakout coming very soon !
We have been in this big triangle since March.
I have this as a bullish triangle so we should see an upside break after one more push lower for wave E
which should end around the 61.8%/78.6% retracement levels
(sometimes it can even do it without even touching the 50% level, that would just be bad luck, nothing to do)
Note that, if we go below the invalidation level, we then can count this triangle as a bearish one and we need to look to go short.
I have this as a bullish triangle so we should see an upside break after one more push lower for wave E
which should end around the 61.8%/78.6% retracement levels
(sometimes it can even do it without even touching the 50% level, that would just be bad luck, nothing to do)
Note that, if we go below the invalidation level, we then can count this triangle as a bearish one and we need to look to go short.
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