USDCAD -6 April 2020. A continuation of Elliot Wave, finally a good sell?

H1 USDCAD from continuation 3-5 April 2020. We detected a possible pattern.

H1 USDCAD

The pattern is developing into a nice pattern. We are on the right side, but we did not take any trades. We are waiting for a Quality Trades

H1 USDCAD – Price is developing into pattern Contracting Triangle

As market open by 6 April 2020, we did see the pattern still developing into our suggested movement. We are now waiting for a good sell. In fact, price already move due to some Absorption.Please refer FMIND on below chart

H1 – USDCAD

FMIND

FMIND can explain the Absorption that happened. FMIND already detect a small Absorption, that is among the reason why price move around 60 pips!

FMIND – USDCAD

BookMAP X-Ray

Based on BOOKMAP XRAY, we did see a bulk of limit order for CAD. It is a buy limit around 1099lot! Our early assumption, price may go here as the price is being advertise. We don’t know what is the intention of the big player/institution etc, please be very cautious.

BOOKMAP X-RAY – USDCAD

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