USDCAD, 4hr tf, Elliott Wave breakdown of Wave-C
Hello, my friends,
My second setup for today is USDCAD pairs.
As you can see, there is a descending trendline currently holding USDCAD from going up.
It is more likely price will go down as long as it is below the descending trend line.
By assuming this recent movement as Wave-A and Wave-B, we are now at Wave-5 and it is more likely to be a 5 waves movement.
We are now on wave-4 and about to continue into wave-5.
We could use Wave-1 as our protective stop loss because wave-4 could never touch wave-1 area.
Sell USDCAD 1.3020
Stop loss 1.3045
Take profit 1.2945 (3R)
RR Ratio 1 : 3
Use only 1-2% risk
Good luck
If you find this post useful, don't forget to give it a like and follow me for my next update
Disclaimer : I sold USCAD from 1.3020
My second setup for today is USDCAD pairs.
As you can see, there is a descending trendline currently holding USDCAD from going up.
It is more likely price will go down as long as it is below the descending trend line.
By assuming this recent movement as Wave-A and Wave-B, we are now at Wave-5 and it is more likely to be a 5 waves movement.
We are now on wave-4 and about to continue into wave-5.
We could use Wave-1 as our protective stop loss because wave-4 could never touch wave-1 area.
Sell USDCAD 1.3020
Stop loss 1.3045
Take profit 1.2945 (3R)
RR Ratio 1 : 3
Use only 1-2% risk
Good luck
If you find this post useful, don't forget to give it a like and follow me for my next update
Disclaimer : I sold USCAD from 1.3020
