USDCAD - Wait for pullback before buying !

We have a completed leading diagonal in higher degree wave (1) after wich price fell in a complex WXY correction down to 1.278.
The fast move following this wave (2) and break of upper channel confirms the bottom is in place.

This might be a wave 1 of smaller degree and we are currently in wave 2 wich should find support near 1.291 to 1.300.


You can short this move down but I don't recommend it as corrections are really frustrating.
The profit potential is (if 61.8% retracement is reached) around 200pips.
Where as the profit potential of an upside move are more than 500pips and those moves are way faster and cleaner than corrections!

Kommentera:

4H count

Kommentera:

Join me on Telegram
t.me/em16trading

Kommentera:

I will to post my ideas here for easier access
t.me/em16public