Is USDCAD Ready to turn Bullish? Let's read our waves.
- Hit Resistance coming from Daily
- High Down Volume without the respective pip move - High Speed Index of 18.1 (nothing like that on the down waves in the entire chart)
Wait to hit the Fib with nice volume, wait for the retracement after the hit. If the retracement down have has a High Speed Index and then we have an up wave breaking the Fib upwards is the ideal entry Long. Another thing that could happen is that we start rangng for a while then we need to reexamine our waves.
to be continued...
***Don't
forget to "Like" this post if you like***
Update: 5/7/2019 16:00
Forecasted correct, after a few false breaks of about 15pips max of Daily Support. It did not retrace due to the High Impact News after the Fib break on the 1HR chart as expected but it did on the 5min. For one more time it is proven that this 18.1 Speed Index was Smart Prepositioning and we never broke the pin low located at 10.4 Speed Index.
