Hello traders , USDCAD in daily timeframe ,This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe. In the count that was done, the main waves 1, 2 and 3 have formed a leading downward trend and now the 4 main waves are forming. Wave 4 is formed in a zigzag pattern and from this zigzag the sub-waves a and b are completed and the c-wave is incomplete. From wave c, the microwaves 1, 2 and 3 are completely composed and there can be no definite opinion about wave 4 and 5, but from our point of view, wave 4 is at the end of its trend and then wave 5 climbs to around 1.30. In general, if Fibonacci 0.618 is broken for microwave 4 of wave c or channel channel is broken, there will be no hope for the formation of this ascent. 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
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.