We recently broke the Support in USDCAD in the Daily timeframe and started falling sharply down.
I tried to assign the Wave Counts for this down movement up until now.
We're currently facing a bearish contracting movement with overlaps in a bearish background which is called an Ending Diagonal.
Some call it a Wolfe Wave and as Mr.Wolfe suggests the upside target would be at the touch of trendline connecting 1 to 4.
I'm taking the order when I get triggered in the shorter timeframe and will have 3 positions and close them at different Fib levels and structures.
The Stop Loss would be at 100% price projection of wave three of the diagonal which will void the wave count.
I tried to assign the Wave Counts for this down movement up until now.
We're currently facing a bearish contracting movement with overlaps in a bearish background which is called an Ending Diagonal.
Some call it a Wolfe Wave and as Mr.Wolfe suggests the upside target would be at the touch of trendline connecting 1 to 4.
I'm taking the order when I get triggered in the shorter timeframe and will have 3 positions and close them at different Fib levels and structures.
The Stop Loss would be at 100% price projection of wave three of the diagonal which will void the wave count.
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.