Short USDCAD: Wolfe Wave + Crab + Long OIL

USDCAD may potentially complete a bearish crab pattern in the reversal zone of a bearish Wolfe wave setup. The Wolfe wave target line is confluent with the 50% retracement of the 2-5 impulse in addition to the XA terminus. To add to bearish bias, crude is nearing the completion of a series of bullish patterns (see related ideas). SL is placed at the 1.13 retracement of the crab XA leg with target at the Wolfe wave target line.

Confluence in the PRZ:

• Bearish crab pattern completion
  
• 1.786AB=CD completion
  
• 3.5BC projection
  
• Bearish Wolfe wave setup
  

Thanks for viewing and don't forget to click the thumbs up button and follow for future updates and more trade ideas!

Bullish Crude Setup:

İşlem aktif

Yorum:

NOTE: USDCAD currently trading at the Wolfe Wave 2-4 parallel extension.