This is my long term view for USDCAD pair.
There is high propability we have a bullish butterfly pattern in development on weekly timeframe.
I have plotted also alternative concept I consider.
Therefore I expect somer more up before big reversal.
There is high propability we have a bullish butterfly pattern in development on weekly timeframe.
I have plotted also alternative concept I consider.
Therefore I expect somer more up before big reversal.
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Looks like we going to have bounce.
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Breakout from strucure.
We have high possible long term trade,
We have high possible long term trade,
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We have two long term targets.
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All lower time frames trend lines have been broken so we can assume downtrend resumes at this point.
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600 pips drop from the last update, not bad.
I expect still another drop and I think we have a final pullback which may be a bigger one.
Let's watch price action and wait for another setup
I expect still another drop and I think we have a final pullback which may be a bigger one.
Let's watch price action and wait for another setup
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We will see when price reach 1.25300 level either we going to have one more up or total continuation.
I am still more in favour of straight continuation
I am still more in favour of straight continuation
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Most likely I see another drop in the current structure.
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Be aware lower degree abc structure to upside might be in development right now
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Bigger wave up is most probable as a wave c of bigger correction
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Take any sell setup on lower timeframe as might fall hard from this point
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I will take sell trade after the breakout of lower line as it may lead to big sell
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Looks like end of bigger correction and start of new impulse.
Wait for breakout of uptrend trendline if you are not in trade already
Wait for breakout of uptrend trendline if you are not in trade already
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Structure develops as predicted.
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