USDCAD finding the C correction

We have a large 5 wave move, and in the process of making a correction to a point C. I'm anticipating a move down to 1.193 where price broke out of that level and never retested. This is also where price would meet the ascending trendline it started back from the beginning of the 5 wave pattern. Looking to get in short at a touch of 1.28 with a stop at 1.3. Looking to find another 5 wave count as price moves down to find a C.

Note

Waiting for prices to reach the red resistance line and fail to make a higher high from there to go short. Will be holding the short until the C wave is completed.

Note

Price rallied higher and stopped me out, but still did not break above the b retracement level, so a short is still valid. Find entries to short on rallies.

Note

lawlee9

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.

lawlee9