USDCAD short opportunity

Enter on trendline break

Note

There is also an alternate hypothesis if that trendline fails to break, we could see a retracement up to the 0.886 retracement of wave 1 (blue), where a bat pattern would complete, and then will look for a short from there. For now I still believe it is more likely a break of the trendline will occur in the immediate future which will be the entry point for a short.

Note

EDIT: meant to say 0.886 retracement of wave i (red) in previous update

Trade active

Trendline has been broken, entry valid.

Trade closed: stop reached

Stopped out, turns out wave ii (red) was not complete

kingtigertank

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kingtigertank