As shown on the chart. Yesterday, I had to get out of my position as there was no Strength following the initial push and I was right to do so, as the prices went down right away. I almost broke even with this trade (almost 0 profit), but I preserved the capital. We seem to be in a 3rd wave down of a larger 5th wave. I still maintain my target (of at least a month ago) of 1.34 levels for USDCAD pair. From this point on, it must go up as there is a heavy cluster of support and as the wave counts are completing. Scalpers may go long if they see some blips of temporary up strength within this bear market, but longer term traders keep away from long positions at the moment. The risk is simply to high (at least for me). Good Trades.
