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wayusa

Final wave in USDCAD triple three correction

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
wayusa Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD usdcadlong FLAG correction consoldation Elliott Wave Three Drives retracement reversalpoint reversal
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usdcad usdcadlong flag correction consoldation elliottwaves threedrivespattern retracement reversalpoint reversal
Buy USDCAD into potential wave C to complete triple three correction and form a three drives pattern @ 1.3830. Still, might not complete this one as it looks too perfect to materialize :)

Buy 1.3170
Stop 1.3140
Target1 1.3430
Target2 1.3670
Target3 1.3830
Trade active:
buy @ 1.3163
stop @ 1.3140
Trade closed: stop reached
Comment:
Interesting price action here. 100 weekly MA gets rejected, establishing new price channel. Which means bullish set up is still possible.

snapshot
Comment:
Potential long entry @1.3250 at Butterfly Harmonic pattern 1.27 XA ext. near 0.382 previous bull run retracement level

snapshot
Comment:
Excellent example of harmonic setup initial reaction, but later continuation of the predominant trend. Quick little profit secured.

snapshot

Related Ideas

wayusa
USDCAD is ready to reverse after triple three correction
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