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Elliotical Approach to USDCAD Long.

Hello Traders!

1. We see an Expanding Leading Diagonal for Wave 1.

2. As per the guidelines, the most common level for retracement of a leading diagonal is 78.6%. That is exactly what happened here. We also have a support on the same level.

3. We have a clear invalidation level at the start of Wave 1.

4. The most expected target for Wave 3 would be 161.8% of Wave 1 as per the guidelines. The target could differ as per more development in price action.

5. There is a bit of a change when concerning the original idea. It has been attached.

Do use proper risk management.
Happy Trading!

Profits,
Market's Mechanic.


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