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!❤️
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!❤️