at first this Idea was only looking out for continuation trend so I decided to make long idea first, but I'll provide short idea too because maybe others have different idea too, so why not 2 bird at one stone?
look at plotted Fibonacci Retracement, ploted on uptrend and blue elliotwave point 4 & 5 here price hits sweet spot 61.8% and did boosted up to green elliotwave 1.
and by focusing buy since 3rd blue wave seem to be nice hold till it reach new high.
but have a look back on green elliot wave 1 and 3 where downtrend start to forming, but moving average seem not to be conforming the downtrend so I'll provide short idea in picture on comment bellow.
All the best traders ^^/
look at plotted Fibonacci Retracement, ploted on uptrend and blue elliotwave point 4 & 5 here price hits sweet spot 61.8% and did boosted up to green elliotwave 1.
and by focusing buy since 3rd blue wave seem to be nice hold till it reach new high.
but have a look back on green elliot wave 1 and 3 where downtrend start to forming, but moving average seem not to be conforming the downtrend so I'll provide short idea in picture on comment bellow.
All the best traders ^^/
Note
here is the idea for short on USDCAD
Note
for those who brave enough, im not sure if price will go here but hey swing traders getting heavy bricks ;)
Note
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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.