H4 I was expecting to see a C wave down ( See USDCAD H4 Internal C Down Idea) but looking at price action I think wave B not over.
H1 We don't have bearish divergence between W and X. wave Y high was broken by a few pips so now I think we are getting running flat for Z up
1) Invalidation point yellow line at low
2) look for bull flags on lower TF to confirm more upside
3) Move to BE when price break's wave Y, Targeting 161.8fib extension
NFP coming out on Friday so take this into consideration before taking any position.
If you would like to see more trade setups like this, hit the follow button. If you like my analysis, hit the thumbs up so others get the chance to see this potential setup and you get updates on the trade!
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H1 We don't have bearish divergence between W and X. wave Y high was broken by a few pips so now I think we are getting running flat for Z up
1) Invalidation point yellow line at low
2) look for bull flags on lower TF to confirm more upside
3) Move to BE when price break's wave Y, Targeting 161.8fib extension
NFP coming out on Friday so take this into consideration before taking any position.
If you would like to see more trade setups like this, hit the follow button. If you like my analysis, hit the thumbs up so others get the chance to see this potential setup and you get updates on the trade!
Thank's to all the traders in advance that hit the thumbs for your support!
Note
We got 3 down on lower TF wait for price to break out of structure and give bull flag to confirm more upside before buying. break of invalidation point, leave it alone.Note
H1 still can turn out to be expanding flat for more upside but this setup is invalid.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.