Candles, Channel & Wave Count Calling for Reversal
USDCAD is at an inflection point where it can pull back and retrace against the move up from 1.3038
Most of my trade setups for the entire month have been long USDCAD. (Check related ideas). As the move progressed up, the wave count kept showing further upside where several market participants started getting bearish.
At this point, the count is complete from 1.3038, and we should see a pull back. The larger structure is still bullish, so not expecting a capitulation here.
The 61.8% Fib confluences nicely at the moment with the bottom of the channel
Most of my trade setups for the entire month have been long USDCAD. (Check related ideas). As the move progressed up, the wave count kept showing further upside where several market participants started getting bearish.
At this point, the count is complete from 1.3038, and we should see a pull back. The larger structure is still bullish, so not expecting a capitulation here.
The 61.8% Fib confluences nicely at the moment with the bottom of the channel
Transaction en cours
Tightening stops to 1.3280Note
Correction - Tightening stops to 1.3380
Publications connexes
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.
Publications connexes
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.