EURCAD has completed a 5 wave impulse structure with an extended third wave. Waves 5 and 1 are similar in both time and price and wave 5 has completed near the top of the 2-4 channel. Bearish RSI divergence provides further indication of a potential top.
Sell on rallies with a stop above wave 5 peak
T1: In Wave 4 price territory - around 1.425
T2: Near .618 level - around 1.418
SL: Above wave 5 high - around 1.439
Sell on rallies with a stop above wave 5 peak
T1: In Wave 4 price territory - around 1.425
T2: Near .618 level - around 1.418
SL: Above wave 5 high - around 1.439
