30/07 – EURCAD another swing lower is coming

Hellow, fellow traders!

My previous EURCAD idea suggested that the market was doing a zig-zag correction.

approaching buy area by traderWgun on TradingView.com

 

Instead, the correction has extended to a complex one.

 

Now it looks like we have completed wave B of wave Y.

1h

Wave B was most likely a flat.

4h-MAIN

Now we should see a drop lower towards 1.43/41. After that we should see a wave XX correction or a continuation of the long-term uptrend.
For now, I’m short against 1.4950 invalidation level.

Good luck!

 

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