USD/CAD – Bearish Minor C – End of Correction
USD/CAD previous Bearish views and set-ups worked out amazingly good and the Members cashed in some impressive green pips.
Previous Articles:
- “USD/CAD (dollar/loonie) – Elliott Wave – Long Term Forecast – BUY & SELL”
- “USD/CAD-Dollar/Loonie – Bearish Break-Out – Intermediate (C)”
Now it looks like another Bearish Wave could be preparing, therefore, I am signalling the alarm once more because we could be in for another dip.
Daily Chart:
Intermediate (Y) (red) is expected to complete along with Minot C (red).
Minor B (red) Technicals:
- 61.8% Fibonacci Retracements of Minor A (red)
- 100% Fibonacci Extensions of Minutes w&x (purple)
- 150-161.8% Fibonacci Extensions of Minuettes (a)&(b) (orange)
- Decreasing volumes pointing towards an upcoming Bearish Divergence
As you can see, the Fibs are aligning for a possible Bearish outcome.
Daily Interactive Chart:
USD/CAD – SELL Positions:
- Moderate Entry @ 1.3100 with SL @ 1.3400
- Conservative Entry @ 1.3330 with SL @ 1.3600
- Targets @ 1.2800 / 1.2500 / 1.2200 / 1.1900 / 1.1600
1 Comment
admin
(July 25, 2018)Trading opportunity:
USD/CAD – Sell Position
Entry @ Market Price with SL @ 1.3500 (or 1.3450) and TP @ 1.2800 / 1.2500 / 1.2200 / 1.1900 / 1.1600
*Conservative way of trading this huge swing would be to wait for a breach and big candle on the down-side and then a corrective piece or a bear flag.