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The article covers the following topics:
Main meals
- The main scenario: Once the correction ends, consider long sites higher than 1.3955 level with 1.4800 – 1.5200. Buy signal: The price exceeds 1.3955. Stop loss: less than 1.3880, take profits: 1.4800 – 1.5200.
- An alternative scenario: The penetration and unification below the 1.3955 level will allow the husband to continue to decrease to 1.3800 – 1.3656 levels. Selling signal: The 1.3955 level is broken to the downside. Stop loss: above 1.4020, take profits: 1.3800 – 1.3656.
The main scenario
Consider long sites higher than 1.3955 level with 1.4800 – 1.5200 as soon as the correction is formed.
Alternative
The penetration and unification below the 1.3955 level will allow the husband to continue to decrease to 1.3800 – 1.3656 levels.
analysis
The Fifth Fifth Wave is supposed to continue with the 5 Grand Class 5 in the weekly graph, with the formation of the wave (5) of 5 as part of it. The third wave 3 of (5) is formed on the daily chart, and a declining correction is about to finish, such as the fourth wave 4 of (5). Apparently, the с wave of 4 continues to develop on the H4 timeline, with a V wave of C forming inside. If the assumption is correct, USD/CAD The pair will continue to rise to 1.4800 – 1.5200 levels after the correction ends. The 1.3955 level is very important in this scenario, as the penetration of the pair will be able to continue to decrease to 1.3800 – 1.3656 levels.
This expectation depends on Elliot wave theory. When developing trading strategies, it is necessary to consider the basic factors, as the market situation can change at any time.
Usdcad price scheme in actual time
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