Larger time-frame is a bearish setup so i am bearish. But short term i am bullish. I want to buy the green area and put a stop below targeting the red area.
the bears won... want to short it.. i have no exact price yet.
There could be a bounce from the 38.2 fib level since it was previous resistance.
Most people are bearish on the pair.. not me. Reason: expanding wedge. Looking to buy rowards blue line. Too early so say where. But for now i say green line. my strategy on the pair in the chart.
a small risk required for a huge reward.
First i look if this setup works out next week. then the other one.
I am bullish on the pair, looking to buy long term. This may be a good place.
This could be a turning-point.
Personally i wait till after the test and place a breakout order lower tf.
some news event broke my last usdcad setup with effort. this one may work.
could work, its worth the risk. technical target is point b.
If it happens. Again when i do the analysis with oanda i get different results.
When i draw it in metatrader with oanda i get other results.. There i have an ab=cd at this approximate level but the fib is at another level. Depending on how this setup works out i may switch broker.