Weekly Forecast Dollar Cad Short

This has recently broken out of the weekly sideways correction and looks short.
The shape of the correction makes the next high degree move look short.

Currently it seems to be in a lower degree correction but once it breaks out of this it should present a nice short opportunity.

The breakout could happen soon or it may go back up for another low degree corrective wave. (Blue arrow)

Either way wait for the breakout and an entry set up before risking your money.

This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome

Good luck Steve

Commentaire:

Price seems to be going for one more up before going short (see blue arrow on chart above)

Commentaire:

Price my have decided to break out instead of going back to the top - don't jump in yet - wait for it to prove it's going down by correcting (Green squiggles)

Commentaire:

This is still within the corrective breakout - it went back up as predicted and we are now waiting for the breakout - keep an eye on it as it could happen soon