USDCAD .. I am getting ready to go long if we get H1 trend line break.
I think we have completed 5 waves already but I may be wrong as it can still push lower that's why it is important to wait for a trend line break before going long.
If we get a trend line break, then SL goes below the lows and the 1st target is the 23.6% retracement level of the entire down move.
If we get a break above the 23.6% level, then 38.2% and 50% levels are available.
Happy trading
I think we have completed 5 waves already but I may be wrong as it can still push lower that's why it is important to wait for a trend line break before going long.
If we get a trend line break, then SL goes below the lows and the 1st target is the 23.6% retracement level of the entire down move.
If we get a break above the 23.6% level, then 38.2% and 50% levels are available.
Happy trading