USDCAD rising wedge. Opportunity to short.
Important areas:
1.30539 - Support that is considered relevant when playing the ABC count. The loss of this level invalidates the count.
Summary:
After a bullish period, we see that we are in a complex correction that is forming a rising wedge.
Within this figure, we appreciate already formed C and wait for the touch of D at the top to enter short. This is a macro structure, the optimal levels to entry will be post in the 4h chart during the next days.
Note that the momentum up to D is taking the form of ABC, so the loss of the previous level invalidates this scenario.
1.30539 - Support that is considered relevant when playing the ABC count. The loss of this level invalidates the count.
Summary:
After a bullish period, we see that we are in a complex correction that is forming a rising wedge.
Within this figure, we appreciate already formed C and wait for the touch of D at the top to enter short. This is a macro structure, the optimal levels to entry will be post in the 4h chart during the next days.
Note that the momentum up to D is taking the form of ABC, so the loss of the previous level invalidates this scenario.