USDCAD long idea: IF oil pulls back UC should should hit 1.34

Telah dikemas kini
UC has been following fib multiples pretty nicely.
I think this latest bounce wants to hit the 3.618.
The 4.236 Fib extension is a common wave-ender.

But that would require OIl to pullback some which I think it will.
Wednesday is US OIl Inventory report, which might spike price.
I am long now, hoping to have SL in profit before the news.
Komen
Looking good so far. syot kilat But I need to see it hit that blue 2.618 asap, then make progress to the 3.618 and 4.236. otherwise this bounce is not a very good impulse....

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Komen
Nice, UC clearing and confirming the blue 2.618 as support now syot kilat need it to hold strong if we are to make it to the 4.236

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Komen
nice, burst above the 2.618 and ready to attack the 3.236. syot kilat need it to hit the 3.618 before some pullback, but still hoping for the 4.236 before serious retrace

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Komen
TP hit, Nice! hit the 4.236 EXACTLY as hoped syot kilat now watching retrace but I expect not much of one, US CPI report was mostly positive, while all others have been trending down....

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Komen
UC hada perfect 4.236 wave up, where I closed my longs syot kilat but such a wave implies further upside, so have bought again

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Komen
UC making good progress towards first target, while still respecting each Fib syot kilat

Closer measurement of the move shows its Impulse and the ripples, just as ALL moves have syot kilat And, it shows why we bounced a little ABOVE the red fib at 1.23755. That red fib's repulsion was added to that of blue 5.618, allowing it to deflect price twice and launch it towards next energy band.

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FibonacciSupport and Resistance

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