Hi Traders, USDCAD as expected is pushing down I have 2 area's of interest here.
We have a potential counter trend trade opportunity either at our 3rd AB=CD completion marked in pink lines, also with lower entry being an advanced BAT Pattern.
We would also look for a potential pullback into previous structure for another short entry, expecting the trend to continue to the downside.
if we break below the green zone I would expect price to pull back some and then continue further down, this green zone is a decision point and from analysis I feel we may see some action in this zone. Also if we violate our X leg on the BAT next counter trend would be nearing the 1.25000 mark.
Just sitting out on USDCAD at the moment until we get some clear signs on reversal at these levels.