The Loonie appears to have finished off the 'b' wave of an a-b-c expanded flat. The potential ensuing 'c' wave would likely take prices down into the 1.07 handle.
If you zoom into a 15 minute chart and focus on the Sept 9-10 price high, you can see prices have established a 5-3 wave sequence lower which suggests a temporary top is in place.
The larger trend on the daily chart is still up as it appears the yellow 5 wave sequence finished a larger trend red wave (1). This 'c' wave lower, if the labeling is correct, would finish off red wave (2) in the 1.07 handle then set the table for another booming rally. We're not getting greedy and looking to take profits near 1.0810 which gives us a good risk to reward ratio short trade.
Short EUR/CAD or short GBP/CAD could be other good candidates to take advantage of CAD strength.
If you zoom into a 15 minute chart and focus on the Sept 9-10 price high, you can see prices have established a 5-3 wave sequence lower which suggests a temporary top is in place.
The larger trend on the daily chart is still up as it appears the yellow 5 wave sequence finished a larger trend red wave (1). This 'c' wave lower, if the labeling is correct, would finish off red wave (2) in the 1.07 handle then set the table for another booming rally. We're not getting greedy and looking to take profits near 1.0810 which gives us a good risk to reward ratio short trade.
Short EUR/CAD or short GBP/CAD could be other good candidates to take advantage of CAD strength.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Test your Elliott Wave readiness.
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.