Hello traders , USDCAD in daily timeframe ,This analysis is prepared in daily timeframe but has been published for better view in 2 days timeframe.
Based on the wave count we had for this symbol and the survey we did, we came to the conclusion that we are in a leading downward cycle.
This cycle consists of 1, 2 and 3 main waves and 4 and 5 waves are incomplete.
We are now inside wave 4 and we assume that this wave will be completed in a zigzag pattern.
From this zigzag, wave a is over and wave b is probably complete, so we considered it completed and announced the beginning of wave c.
It consists of t-wave 1, 2 and 3 microwaves.
Wave 4, in our opinion, is at the end of its trend and at the end of wave 5, it has an ascending ratio of a equal to c.
If the bottom of the orange and fibo channel is broken for wave 4 that we have identified, wave c is probably already complete and wave 5 has started.
🙏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!❤️
Based on the wave count we had for this symbol and the survey we did, we came to the conclusion that we are in a leading downward cycle.
This cycle consists of 1, 2 and 3 main waves and 4 and 5 waves are incomplete.
We are now inside wave 4 and we assume that this wave will be completed in a zigzag pattern.
From this zigzag, wave a is over and wave b is probably complete, so we considered it completed and announced the beginning of wave c.
It consists of t-wave 1, 2 and 3 microwaves.
Wave 4, in our opinion, is at the end of its trend and at the end of wave 5, it has an ascending ratio of a equal to c.
If the bottom of the orange and fibo channel is broken for wave 4 that we have identified, wave c is probably already complete and wave 5 has started.
🙏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!❤️
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.