USDCAD - Monthly support + AB=CD with DIV - 4HR
We are just entering Monthly support and AB=CD complete at same price level.
A little further down is Butterfly completion point.
RSI Divergence is showing us we may not reach the pattern completion levels, and the AB=CD may take effect to react first.
Waiting on candle close and reaction here on the 4HR
DIV is notable from Oversold into normal RSI zone on all time frames at current price level and retesting the 30
We are just entering Monthly support and AB=CD complete at same price level.
A little further down is Butterfly completion point.
RSI Divergence is showing us we may not reach the pattern completion levels, and the AB=CD may take effect to react first.
Waiting on candle close and reaction here on the 4HR
DIV is notable from Oversold into normal RSI zone on all time frames at current price level and retesting the 30
Note
Opening up the chart we see the completion area would be a 618 swing area for the current larger patternNote
1HR crab + DIVTrade active
Divergence is still in control, Oil droppingNote
Pattern looking to complete.Not going to rush this with a limit order
waiting for confirmation once we hit 1.311 -1.307
Trade active
1/2 position open with 100 pip stop below 1.3other 1/2 on buy stop to catch a run
SL for 1/2 position = 1%
Note
our SL is still well from being hit.second half bought 1.29 stop
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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.